Word: vc
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...Latypov brothers hope to follow Cybiko's model: manufacture in Asia, set up a management team in the U.S. and keep development in Russia. To start, they need $3 million in first-round funding. If they can make the right VC connections, and bring in the right management - and if more Russian scientists follow that example - then the country will have a shot at developing not only world-class technology but world-class technology companies...
Even growing companies have shut down in the face of VC disdain and looming cash shortages. Three weeks ago, Kibu.com a start-up that had made healthy inroads in the teen-girl market by building a cyberchat "hangout," shocked analysts by closing while it still had a healthy bank balance. The reason? Kibu was unlikely to be "valued appropriately"--in other words, stupefyingly overvalued--by a market that has lost its appetite for IPOs. So it gave investors some of their money back. Indeed, the shell-shocked look on the faces of dotcomers who only yesterday had dreamed of Maseratis...
...through Yale School of Medicine before deciding that a financial career would be more to his liking. He was determined to "democratize venture capital" and teamed up with Andy Singer, a colleague from San Francisco's Robertson Stephens investment firm. They finally corralled Tim Draper, a veteran VC, who wrote them a check for $4.5 million...
...commerce firm Auctionwatch. Much like shares in a regular, closed-end mutual fund, meVC shares trade on the New York Stock Exchange (symbol: MVC). Unfortunately, because of this year's groggy market, meVC shares closed at $12.88 last week, down 36% from their initial price of $20. Since VC bets are notoriously risky, many critics think small-time investors shouldn't be fooling around with this business. Freudenthal counters that as long as you're betting only a small portion of your portfolio, 2% to 4%, "a professionally managed, diversified venture-capital fund is less risky than any single NASDAQ...
That means sitting down at 10 a.m. to pitch meetings like this one with his VC partners and competitors--Brook Byers of Kleiner Perkins, Steven Merrill of Benchmark Capital and CEOs Matt Glickman of BabyCenter.com and Dave Whorton of Springthings.com--to listen to the latest ideas from the world of philanthropy and interrogate the presenters, picking apart their Powerpoint presentations as aggressively as they would a B2B start...