Posts Tagged "SoCal"


Montgomery & Co Projects Deal Volume to Grow by 167% in Just 2 Years with No End to Growth in Sight

On the third Wednesday of every month I co-chair a meeting called the SoCal VCA (venture capital alliance), which represents participants from all of the top venture capital firms in Southern California as well as prominent members of the Tech Coast Angels (TCA).  We meet to discuss trends in the industry and to find ways to work together to help with SoCal deal syndication – somethings that happens automatically on Sand Hill Road in NorCal due to proximity.

We feature a prominent speaker at every event.  This morning we heard from Jamie Montgomery, CEO of the venerable Montgomery & Co investment bank who is at the heart of what is going on in M&A for venture backed companies.  They do around 7% of the total VC-backed deals in the US per year or just under 40 deals / year on average (present year excluded!)

I have to admit that I was greatly encouraged by Jamie’s outlook for venture backed companies, which if true will be a welcome relief for our industry.  No doubt a tech M&A banker would have a bias to say that the world ahead looks rosy, but however you want to put a spin on the next 2 years I think you’ll find this data very interesting and useful.  Where I add commentary from myself or my fellow VC colleagues from our discussion after Jamie left I’ll put in red.

Summary of Montgomery & Co’s views on the road ahead for tech M&A of venture backed companies:   (the whole presentation is later in the post, which I suggest you look at because it has insightful data.  If you want to download the document I’ve made it available at my favorite document sharing site DocStoc).

1. 2009 has been the worst year for M&A in a decade.

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Twiistup 6 Highlights


Posted on Aug 3, 2009 | 5 comments

ExpenseBay Wins Showoff

Twiistup 6 has come to an end.  It proved to be a great transitional year.  Out is the “cocktail only” Twiistup and in is the new format of a conference that should take its rightful place on the national technology calendar.  I believe that Twiistup is now a platform from which to grow and highlight what is uniquely LA.  We are a city unique in merging the world’s best content with digital media and technology expertise.  Much of this was highlighted at Twiistup.

LA not only produced the obvious – MySpace – but also created the whole category of sponsored search (Overture), AdSense (Applied Semantics), Local Search (City Search), comparison shopping (PriceGrabber, Shopzilla) and lead generation (LowerMyBills).  In SoCal we are also leaders in affiliate marketing (Commission Junction), Internet video (Hulu) and bringing local businesses online (ReachLocal).  We are also home to DemandMedia (Richard Rosenblatt) and Mahalo (Jason Calacanis).

We have accomplished much yet have much work to do.

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