Category: Private Equity
Changing policy, Y Combinator cuts its pro rata stake and makes investments case-by-case
In a message posted to its internal communications channel earlier this week, the massive startup accelerator Y Combinator said it will change the terms of its own PPP (the YC pro rata investment program) and investing in companies raising seed and Series A rounds on a case-by-case basis. The company…
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Punitive liquidation preferences return to VC — don’t do it
Emergency bridge convertible notes create severe disincentives for new investors Pascal Levensohn 7 hours Pascal Levensohn Contributor Pascal Levensohn is a San Francisco-based venture capitalist with over 22 years of VC experience through Levensohn Venture Partners and Dolby Family Ventures. He is a former director of the National Venture Capital…
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As stocks recover, private investors aren’t buying the hype
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Today we need to talk about what we’re hearing from the private markets and the public markets, and how different their messages seem to be. The public markets through yesterday…
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Airbnb ups its debt by $1BN amid the coronavirus travel crunch
Airbnb has secured commitments of $1 billion for a syndicated term loan from institutional investors, it said. The emergency cash injection comes as the coronavirus travel freeze continues to hammer vacation rentals, with holidaymakers locked down at home and global travel banned or heavily discouraged for public health reasons. Neither…
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Silicon Valley restructuring veteran says his firm is winding down up to 3 startups a day
‘It doesn’t matter what size they are; when they come to us, they’re all broke’ Connie Loizos @Cookie / 8 hours Marty Pichinson gets called a lot of things: Silicon Valley’s undertaker, its terminator, a grave digger. These aren’t meant as slights; Pichinson is the founder of Sherwood Partners, a…
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Frank raises $5M more in its quest to get students max financial aid
Frank, a New York-based student-facing startup, has raised $5 million in what the company described as an “interim strategic round” led by Chegg, a public edtech company. According to Frank founder and CEO Charlie Javice, previous investors Aleph and Marc Rowan took part in the round alongside new investor GingerBread…
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