Q1 Capital Partners

Venture capitalists, whose money provides fuel to technology start-ups, last year invested the lowest amount in such companies since 1997, according to a report from PricewaterhouseCoopers and the National Venture Capital Association released on Friday.

Every entrepreneur who has taken the risk to start and build a business is curious about what his or her business is worth and what is involved in selling it. These days, few business founders plan on running their businesses until retirement and, with the world awash in private equity and mega M&A deals taking up the headlines each day, selling your business is a very hot topic. While it is commonly known that sellers what to "sell smarter" (i.e., maximize their after-tax sale proceeds), what is not commonly known is what is involved in getting there.

To view the PowerPoint, please see the Wilson Vukelich website posting from September 8 of 2006

We know little  about  what  the most  critical  factors  are for the performance  of new  firms, whether  it be market  conditions,  ideas,  financial  capital,  or people.   I analyze the causal effect of the founder for firms in their infancy by using variation in the occurrence of founder death.  Both cross-sectional and within-firm estimates suggest that founder death has only a slight effect on firm performance, as measured by firm survival, profitability, or growth.  I  interpret this  as  the  founder  being substitutable even in a firm’s infancy and that  the main function  of the founder is to discover new opportunities and setting  up the firm rather  than  managing  it.

Nearly every deal these days will have an investment banker advising one or both parties. Sometimes there'll be an investment banker advising another investment banker.

This article was originally titled “10 Mistakes To Avoid When Seeking Venture Capital For Pharma/Bio” but the advice is applicable to companies raising capital across all sectors.

Here's a puzzler. Conventional wisdom says that successful companies have a vision.  And indeed, they often do.  But at the same time, lots of companies with carefully crafted mission and vision statements have gone down the tubes. What gives?

Too many Canadian technology firms are seeing an early demise because they lack the business skills to turn innovative ideas into marketplace success stories, according to a study released Wednesday.

In connection with the incorporation of your new business, this memorandum highlights a number of critical issues for you to consider with your legal, accounting and other professional advisors.....