CB Insights has published summary data regarding recent venture capital trends, together with a full report available to paid subscribers.  In terms of investments by VCs, the report indicates that US$7.0B was invested in 807 deals in the second quarter of 2013, representing a small increase in dollars invested (versus US$6.9B in first quarter) but a decrease in the number of deals of approximately 4%. The chart below shows quarterly dollars invested and deal volume going back to fourth quarter of 2010.  See the full release by CB Insights
Continue Reading Recent Venture Capital Trends: CB Insights Q2 2013 Data

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Megan Muir

As a quick follow up on this topic from a few months ago (prior post can be read here), the SEC has approved alternatives to Nasdaq’s historical $4 minimum bid price listing standard.  Under the new alternative listing standards, a security may qualify for listing on the Nasdaq Capital Market if:

$3/share price — for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $3 per share and the issuer has either:

  • Equity Standard:  (A) stockholders’ equity of at least $5M; (B) market value of publicly held shares of at least $15M; and (C) a two year operating history; or
  • Net Income Standard:  (A) net income from continuing operations of $750,000 in the most recently completed fiscal year or in two of the three most recently completed fiscal years; (B) stockholders’ equity of at least $4M; and (C) market value of publicly held shares of at least $5 million; or

$2/share price — for at least five consecutive business days prior to approval, the security has a minimum closing price of at least $2 per share and the issuer has (A) market value of listed securities of at least $50M; (B) stockholders’ equity of at least $4M; and (C) market value of publicly held shares of at least $15M.

In addition, the issuer must also demonstrate that it has:

  • Net tangible assets in excess of $2M if it has been in continuous operation for at least three years;
  • Net tangible assets in excess of $5M if it has been in continuous operation for less than three years; or
  • Average revenue of at least $6M for the last three years.

Continue Reading New Nasdaq $2 / $3 Initial Price Listing Standards

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Megan Muir

Thomson Reuters and the National Venture Capital Association issued their “Exit Poll” report for Q3 2011 today, showing a marked slowdown in venture-backed IPOs compared to Q2 2011.  According to the report, only 5 venture-backed companies went public in the third quarter (compared to 22 in Q2 2011), while M&A activity among companies with VC investors was down slightly in volume (33 in Q3 versus 35 in Q2) but up 8% in aggregate deal value ($6.3B) relative to Q2 2011 ($5.8B).  John Cook of Geekwire has 
Continue Reading No Surprise: IPO Activity Slow in Q3 2011