September 17, 2006 |
The Pennsylvania Public School Employees Retirement System credits foreign stocks, real estate and private investments for its strong returns last year. All three investment categories did better than U.S. stocks and bonds during the year ended June 30. But in two of those categories - real estate and private investments - PSERS says its returns were roughly twice what other investors collected from the same kinds of investments. PSERS said its private real estate investments gained 41 percent, more than double the performance of the National Council of Real Estate Investment Fiduciaries Index, the measure PSERS uses to judge the performance of the properties it buys.
August 25, 2005 |
Protez Pharmaceuticals Inc., a Malvern start-up working on new antibiotics, has raised $15 million in venture capital. The company is developing antibiotics to treat drug-resistant and life-threatening infections. Protez said it would use the financing for its lead compound, SMP-601, a potent injectable antibiotic to fight infections in hospital patients. "This financing represents a significant milestone for Protez," said its president and chief executive officer, Christopher Cashman.
May 9, 2005 |
Sorry, Philadelphia, but China is going to be the next Silicon Valley. The Internet is back. Health-care innovation will bring the next wave of big profits. Nanotechnology's still a speck. The chatter last week at the year's largest gathering of venture-capital investors sounded like a version of going back to the future - with some modifications. The annual conference of the National Venture Capital Association, at New York's Waldorf-Astoria hotel, drew more than 700 of these investors, who help manage money for wealthy individuals and institutions such as public and private pension funds.
May 2, 2005 |
Biotechnology, the new new thing among venture-capital investors after the dot-com bubble burst, suddenly looks old. Venture investors pulled back sharply on placing money in private biotech companies in the first three months of 2005. They invested $632 million, down nearly $400 million from the same quarter last year. It was the smallest quarterly flow of private-equity money to this drug-industry sector in two years, according to the MoneyTree Survey by PricewaterhouseCoopers L.L.P.
December 6, 2004 |
Guy Maestre is chairman and chief executive officer of PhenoTech Inc., a Philadelphia biopharmaceutical company that is trying to develop a more efficient method of blood typing. But without a $500,000 investment the company was awarded last year by the state-funded BioAdvance, "there would not be a company," Maestre said. The PhenoTech scenario is typical of such venture-capital investments: The money has brought the promise of commercialization to research that is being conducted at the University of Pennsylvania, where it was initiated with a $235,000 grant from the National Institutes of Health.
October 29, 2004 |
Vis.align Inc., of West Chester, could be a poster child for the state of the venture-capital industry. The information-technology company, built by private investors, is on the comeback trail from severe setbacks four years ago when the technology boom collapsed and it had to lay off hundreds of employees. It received $400,000 in the quarter ended Sept. 30, bringing to $9 million the amount it has raised over the last five years. Earlier this week, it was making a pitch at the Mid-Atlantic Venture Conference in Philadelphia for $5 million more, to buy smaller companies next year.
September 8, 2004 |
Quaker BioVentures Inc., a Philadelphia venture-capital firm, said yesterday that it had raised $280 million from investors, including $115 million from state and city pension funds. The firm, founded in 2002, focuses on biotechnology investments and already has made commitments to six small companies, most of them in the Philadelphia region. The amount is unusually large, especially for a first-time venture fund, said John Taylor, head of research at the National Venture Capital Association.
July 30, 2004 |
In an encouraging sign for cash-hungry entrepreneurs, venture-capital firms are starting to invest more money in start-up companies. One big beneficiary is a Philadelphia specialty pharmaceutical company developing new treatments for congestive heart failure. Cardiokine Inc. received $37 million in venture financing to begin Phase 3 clinical trials on a drug, Lixivaptan, licensed from Wyeth. It is one of 27 companies in the region that received a total of $127.4 million during the second quarter of the year, according to the quarterly MoneyTree Survey released this week by PricewaterhouseCoopers L.L.P.
April 30, 2004 |
Private investors in new technology companies, who were staggered by losses from the collapse of many Internet-based ventures just a few years ago, have regained their footing, largely by turning to health-care firms, an industry survey reports. These investors have been heartened by a surge in both initial public offerings and acquisitions. These two methods of selling companies in their portfolios had virtually dried up in recent years, discouraging investors from making commitments.
March 1, 2004 |
Want to know what's happened to technology investing? Follow Steven D. Hobman. The peripatetic financier has come home, so to speak, to NewSpring Ventures L.P., of King of Prussia. He helped found the private-equity fund 4 1/2 years ago but then served only on its advisory and investment panels, as he set up shop at a series of area banks. But now he is at NewSpring full time, helping to launch a $100 million "mezzanine" fund. These are funds that invest in companies that have grown out of their infancy, need capital to expand, and have the revenues to take on some debt.