Washington state and San Diego both strong in VC funding despite overall decline

EY Nationally, venture capital funding is down in 2015, although investments are up in Washington state where the first quarter was the best one since before the Great Recession. San Diego also posted an investment increase of $100 million year over year.

Jeff Grabow, U.S. venture-capital leader at global accounting and consulting firm Ernst & Young, said in the Seattle Times that Washington has created a good ecosystem of talent, money and advisers through companies having successful initial public offerings, which in turn brings in more venture-capital funding. Seattle cancer-immunotherapy company Juno Therapeutics raised hundreds of millions in 2014 and went public on Dec. 19, 2014, raising $264.5 million.

“It creates an ecosystem of people who have been through it, who like to build things, and they go on and do other things,” Grabow said. “Capital flows to that. … If there is no ability to innovate, there is no need for venture capital.”

Read the full articles:

Rise of late stage VC investment shows in Q1 numbers (San Diego Daily Transcript)

Robust VC funding in state reaches pre-recession levels (Seattle Times)

More articles about VC deals:

Tech companies continue to land mega VC deals (San Jose Mercury News)

San Diego start-ups net more venture capital (San Diego Union Tribune)

EY names regional judges for Entrepreneur Of The Year in Northern California

EY Ernst & Young announced the following judges for the EY Entrepreneur Of The Year Award in the Northern California. The independent judging panel includes previous award winners, leading CEOs, private capital investors and other regional business leaders. The winners will be revealed at a on June 11, 2015, at The Fairmont in San Francisco.

  • Geoffrey Barker, Executive Director & Co-Founder, RPX Corporations, 2012 Award Recipient
  • Joseph Bronson, Principal & CEO, The Bronson Group, LLC
  • Douglas Chu, Head of Western Regions Listings, NYSE
  • Ken Coleman, Special Advisors, Andreesen Horowitz & Chairman, Caama Technologies
  • Chris Harris, Director, Friedman, Fleischer & Lowe, LLC
  • Maha Ibrahim, General Partner, Canaan Partners
  • Lisa Im, CEO, Performant Financial Corporation, 2012 Award Recipient
  • Jon Kossow, General Partner, Norwest Venture Partners
  • Tarkan Maner, Chairman & CEO, Nexenta, 2012 Award Recipient
  • Tod Sacerdoti, CEO & Founder, BrightRoll, Inc., 2013 Award Recipient, 2014 National Award Recipient
  • Scott Tierney, Google Capital Partner, Google Capital
  • Peter Van Deventer, Managing Partner, Integrity Global Management
  • Michael Bartels, VP New Listing & Capital Market, NADAQ

Read the full announcement:

EY announces regional judges for the EY Entrepreneur Of The Year® 2015 Northern California Award

More about the judges:

2015 Judges panel

EY announces Entrepreneur Of The Year semifinalists

EYErnst & Young announced the semifinalists for the EY Entrepreneur Of The Year 2015 Award in the Northern California region which recognizes success in innovation, financial performance, and personal commitment to their businesses and communities.

  • Rob Hull, Founder & Chairman – Adaptive Insights, Palo Alto, CA
  • John Foraker, CEO – Annie’s, Inc., Berkeley, CA
  • Jyoti Bansal, Founder & CEO – AppDynamics, San Francisco, CA
  • Kirk Krappe, CEO & Founder – Apttus, San Mateo, CA
  • Jayshree Ullal, President & CEO, Andy Bechtolsheim, Founder, CDO & Chairman – Arista Networks, Santa Clara, CA
  • Thomas Harman, Founder & CEO – Balsam Brands, Redwood City, CA
  • Richard Norgrove, President & CEO – Bear Republic Brewing Company, Cloverdale, CA
  • René Lacerte, CEO/Founder – Bill.com, Palo Alto, CA
  • Jean-Jacques Bienaime, Chairman & CEO – BioMarin Pharmaceutical, Novato, CA
  • Dylan Smith, Chief Financial Officer – Box, Los Altos, CA
  • Jim Yu, Founder & CEO – BrightEdge, San Mateo, CA
  • Howard Rosenberg, CEO – B-Stock Solutions, Redwood City, CA
  • Tom Kemp, CEO & Co-Founder – Centrify, Santa Clara, CA
  • Al Lieb, CEO & Co-Founder – ClearSlide, San Francisco, CA
  • Rob Bernshteyn, CEO – Coupa, San Mateo, CA
  • Kenneth Lin, CEO & Founder – Credit Karma, San Francisco, CA
  • Billy Bosworth, CEO – DataStax, Santa Clara, CA
  • Michael Fitzsimmons, CEO – Delivery Agent, San Francisco, CA
  • James Schoeneck, President & CEO – Depomed, Inc., Newark, CA
  • Keith Krach, Chairman & CEO – DocuSign, San Francisco, CA
  • Paul Nahi, President & CEO – Enphase Energy, Petaluma, CA
  • John Hahn, Co-Founder & CEO – EPIC Insurance Brokers & Consultants, San Francisco, CA
  • Jeremy Roche, President & CEO – FinancialForce.com, San Francisco, CA
  • Meera Kaul, Managing Partner – Germanium Ventures, Mountain View, CA
  • Shashank Samant, President & CEO – GlobalLogic, San Jose, CA
  • Marcus Ryu, CEO ,President & Co-Founder- Guidewire Software, Inc., Foster City, CA
  • Dr. Kathy Johnson, CEO – Home Care Assistance, Palo Alto , CA
  • Rob Bearden, Chairman & CEO – Hortonworks, Inc., Santa Clara , CA
  • Jahangir Mohammed, CEO & Founder – Jasper, Santa Clara, CA
  • Conor Madigan, President – Kateeva, Menlo Park, CA
  • James Osgood, President & CEO – Klean Kanteen, Chico , CA
  • Fred Hsu, President & CEO– Manage, San Francisco, CA
  • Mary Kariotis, President & CEO – Merrimak Capital Company LLC, Novato, CA
  • Suhail Doshi, CEO – Mixpanel, San Francisco, CA
  • Jason Hartlove, CEO – Nanosys, Inc., Milpitas, CA
  • Gautam Gupta, Co-Founder & CEO – NatureBox, San Carlos, CA
  • Howard Robine, President & CEO – Nektar Therapeutics, San Francisco, CA
  • Dheeraj Pandey, President & CEO – Nutanix, Inc., San Jose, CA
  • Todd McKinnon, Co-Founder & CEO – Okta, San Francisco, CA
  • Eric Stang, Chairman, President & CEO – Ooma, Inc., Palo Alto, CA
  • David Ulevitch, Founder & CEO – OpenDNS, San Francisco, CA
  • Peter Arvai, CEO – Prezi, San Francisco, CA
  • Konrad Feldman, Co-Founder & CEO – Quantcast, San Francisco, CA
  • Lisa Falzone, CEO – Revel Systems, San Francisco, CA
  • Selina Lo, President & CEO – Ruckus Wireless, Sunnyvale, CA
  • Edward Lanphier, President & CEO – Sangamo BioSciences, Inc., Richmond, CA
  • Mark Rabe, CEO – Sojern, San Francisco, CA
  • Rohit Kshetrapal, CEO – Tegile System, Newark, CA
  • Peter Gassner, Founder & CEO – Veeva, Pleasanton, CA
  • Thomas Villante, Chairman/CEO/Co-Founder, Matt Golis, Co-Chairman & Co-Founder – YapStone, Walnut Creek, CA
  • Mark Foley – President & CEO – Zeltiq Aesthetics, Inc., Pleasanton, CA

Read the full announcement:

EY Announces EY Entrepreneur Of The Year® 2015 Award Semifinalists in Northern California 

More about regional program for Northern California:

EY Entrepreneur Of The Year®

EY report: IPOs in a ‘natural pause’ after 2014

EYLast year, 291 companies had public stock offerings in the U.S., and as the IPO market catches its breath following a blockbuster 12 months, fewer companies are launching public stock offerings, reports U-T San Diego’s Mike Freeman.

“I think one of the key drivers of the slowdown in the first quarter was bankers pushed companies to go public in the fourth quarter of 2014 to get out while the market was good,” said Doug Regnier, a partner with Ernst & Young in San Diego, in the article. “So the pipeline was fairly well depleted.
EY’s Global IPO Trends report forecasts 38 companies would raise $5.6 billion in U.S. IPOs when the first quarter ends March 31. That’s down 46 percent from the first quarter last year. The firm called the decline a “natural pause.”

Read the full article:

U.S. IPOs off to a slow start

Listen to KCBS “Money Watch” interview with EY’s Jeff Grabow

KCBS Money Watch

Tom Bernard presents on Affordable Care Act in Portland March 17

EY EY’s Tom Bernard presents on the Affordable Care Act’s tax and financial implications, risk areas and potential penalties at the American Payroll Association’s Portland chapter meeting. Bernard sees the ACA as going beyond a benefits issue to become a business issue that needs to be addressed from multiple perspectives – from HR and employee communications to the board of directors and external auditors.

Learn more:

March 2015 Chapter Meeting

Affordable Care Act goes beyond benefits issues

EYEY’s Tom Bernard presents on the Affordable Care Act’s tax and financial implications, risk areas and potential penalties at today’s American Payroll Association’s Silicon Valley chapter meeting. Bernard sees the ACA as going beyond a benefits issue to become a business issue that needs to be addressed from multiple perspectives – from HR and employee communications to the board of directors and external auditors.

Learn more:

February 2015 Chapter Meeting


You’re invited to the Black History Month Executive Roundtable hosted by EY

EYAfrican American executive business leaders will join together to share knowledge, discuss diversity, inclusion strategies and provide insight to their career progression at 6 p.m. on Thursday February 19 at The L.A. Hotel Downtown, 333 South Figueroa Street Los Angeles, CA 90071. You are invited to attend the free Black History Month Executive Roundtable event which is hosted by Ernst & Young. Pre-event networking includes appetizers, refreshments and entertainment. This is a free community event and all are welcome.

More information:

Black History Month Executive Roundtable

San Jose Mayor kicks off 29th annual EY Entrepreneur Of The Year™ Awards

Sylvia Flores, Kailesh Karavadra, Mayor Sam Liccardo and Edward Avila take a selfie.

Sylvia Flores, Kailesh Karavadra, Mayor Sam Liccardo and Edward Avila take a selfie.

San Jose Mayor Sam Liccardo teamed with Kailesh Karavadra, Managing Principal of Ernst & Young’s San Jose office, and Ernie Cortes, EY partner, to kick off the top business awards program in the country — the 29th Annual EY Entrepreneur Of The Year™ Awards – Friday at The Fairmont, San Jose.

“The San José/Silicon Valley region is the birthplace for innovations that drive the global economy. The EY Entrepreneur Of The Year™ award celebrates the vision and passion needed for the long-term success of our region,” says Mayor Liccardo. “I thank Ernst & Young LLP for its decades-long support of entrepreneurs.”

Each year, Ernst & Young showcases successful entrepreneurs from more than 145 cities in 60 countries in their annual EOY Program. Past winners include: Reid Hoffman and Jeff Weiner (LinkedIn Corporation), Sergey Brin and Larry Page (Google, Inc), Nick Woodman (GoPro), Lisa Im (Performant Financial), Hamid Moghadam (Prologis), and David Hung, MD (Medivation). This year, past award recipients, future nominees, program sponsors, and other business leaders joined Mayor Liccardo and EY professionals for the 2015 kickoff.

To apply or nominate someone today, visit: www.ey.com/us/eoy/norcal.

Read the full announcement:

Mayor Liccardo and EY Kick off the 29th Annual EY Entrepreneur Of The Year™ Program

Entrepreneur of the Year Award winner and Curacao founder tells LA Times ‘How I Made It’

EYEntrepreneur of the Year Award winner and Curacao founder tells LA Times ‘How I Made It’ Body: Jerry Azarkman earned an EY Entrepreneur of the Year Award for his successful department store chain Curacao which opened in 1983. Through word of mouth, extended customer credit and customer loyalty, Curacao now boasts more than 2 million customers paying through the chain’s credit card. He tells the Los Angeles Times in the latest “How I Made It” about his success and how he decided to concentrate on what he saw as a neglected and underserved market — Latinos. He shares his thoughts on the power of credit, his leadership style and greatest pet peeve: “People who only know how to say ‘I’ and ‘me.’ If it’s never about ‘us’ or ‘ours,’ then there is something wrong.”

Read the full article:

How I Made It: Jerry Azarkman