Sarah's Feed
Jun 11, 2015

Kleiner Perkins partner Murphy leaves to join Menlo Ventures

SAN FRANCISCO (Reuters) – A Kleiner Perkins Caufield & Byers partner once viewed as a successor to firm leader John Doerr is leaving to join Menlo Ventures as a managing director.

Matt Murphy, who assumed notoriety earlier this year during the high-profile harassment and retaliation trial brought by former Kleiner partner Ellen Pao, will move next month to Menlo, both he and his new firm said. Menlo is known for investments including ride-on-demand service Uber, recently valued at $40 billion.

Jun 9, 2015

Intel pledges $125 million for start-ups that back women, minorities

SAN FRANCISCO (Reuters) – Following up on its earlier pledge to spend $300 million over the next five years to improve diversity, Intel Corp promised more on Tuesday, this time to back companies with women and minorities in leadership roles.

Intel Capital, the chipmaker’s venture capital arm, said it would allocate $125 million over the next few years to bring more management diversity to its start-up portfolio. Some of that sum will overlap with the previously announced $300 million, Intel said.

Jun 4, 2015

Madrona taps Amazon, Microsoft alumni for new 194 million pounds venture fund

SAN FRANCISCO (Reuters) – Seattle-based Madrona Venture Group said it has raised $300 million (194 million pounds) for a new fund, its sixth, drawing on the growing start-up community in the backyard it shares with Amazon.com Inc (AMZN.O: Quote, Profile, Research) and Microsoft Corp (MSFT.O: Quote, Profile, Research).

About half the entrepreneurs in its previous fund, raised three years ago, have worked at one of those two Seattle-area technology leaders, Madrona partner Tim Porter said. Those entrepreneurs benefit from Amazon’s and Microsoft’s diversification beyond their narrow beginnings.

Jun 4, 2015

Madrona taps Amazon, Microsoft alumni for new $300 million venture fund

SAN FRANCISCO (Reuters) – Seattle-based Madrona Venture Group said it has raised $300 million for a new fund, its sixth, drawing on the growing start-up community in the backyard it shares with Amazon.com Inc and Microsoft Corp.

About half the entrepreneurs in its previous fund, raised three years ago, have worked at one of those two Seattle-area technology leaders, Madrona partner Tim Porter said. Those entrepreneurs benefit from Amazon’s and Microsoft’s diversification beyond their narrow beginnings.

Jun 3, 2015

Clinton campaign snares Box CEO in courting young tech millionaires

SAN FRANCISCO (Reuters) – The last time Hillary Clinton ran for the White House in 2008, Aaron Levie was too busy building his start-up company to pay much attention to politics.

But earlier this year, the 30-year-old Levie led his company, Box, through an initial public offering, helping free a small portion of his time to support the frontrunner for the Democratic presidential nomination in 2016. A few weeks ago, Levie, whose company is worth more than $2 billion, agreed to host a fundraiser for Clinton.

Jun 1, 2015

Ellen Pao will appeal gender discrimination case against Kleiner

SAN FRANCISCO (Reuters) – Former Kleiner, Perkins, Caufield and Byers partner Ellen Pao will appeal the result of a gender discrimination she brought against the powerful Silicon Valley venture capital firm, according to a court document filed on Monday.

A San Francisco jury cleared Kleiner Perkins in March of claims it short-circuited Pao’s career because she is a woman, in a case that helped spark a wide discussion about gender at the center of the U.S. technology industry.

May 21, 2015

Ignition Partners raises $200 million for new venture fund

SAN FRANCISCO, May 21 (Reuters) – Ignition Partners said it
had raised $200 million for a new fund, two years after a major
restructuring that created a slimmed-down version of the
15-year-old firm.

The new fund, which Ignition said was oversubscribed, shows
how much a few good investment successes can do to restore
luster to a venture firm. In this case Ignition benefited from
some good bets on enterprise-software firms.

May 19, 2015

Airbnb faces setback as San Francisco may limit length of stays

SAN FRANCISCO (Reuters) – San Francisco may become the
second California city in a month to limit length of stays
arranged by accommodation services like Airbnb, which matches
people wishing to rent out all or part of their homes to
temporary guests.

A city committee late on Monday advanced a proposal that
would limit hosts to renting accommodation to no more than 60
days a year, down from 90 currently. Airbnb has grown quickly
and is valued at far more than $10 billion, with analysts
assuming it can overcome any major regulatory backlash.

May 12, 2015

Startup NerdWallet raises $64 million in first round of funding

SAN FRANCISCO (Reuters) – NerdWallet said it had raised $64 million in its first round of funding, far more cash than it needs to run the personal finance startup, in part to underscore its growth and show it has the potential to one day be valued at over $1 billion.

The cash, an outsized sum for initial funding, will serve as a signaling device as much as it will help NerdWallet expand, said founder and Chief Executive Officer Tim Chen.

May 8, 2015

Hillary Clinton woos technorati, draws comparison to Eleanor Roosevelt

SAN FRANCISCO (Reuters) – Hillary Clinton makes the final stop on Friday on a California fundraising tour where she has courted technology titans for her 2016 campaign and where one of her admirers tried comparing her to fellow former first lady Eleanor Roosevelt.

Clinton, the frontrunner for the Democratic presidential nomination, is gladhanding her way through the Bay Area’s establishment and the newer technology class that could serve as an important source of money, votes and credibility among the broader electorate.