Although venture capital funding increased in the 4th quarter, fewer deals were made, reports Jason Brooks on KCBS radio’s “Money Watch.”
U.S. firms raised 13.8 billion dollars, a 44 percent increase over the same period a year earlier while the number of deals fell 20 percent.
“As you see companies move through the pipeline and companies raise capital at later stages, we are seeing that more and more,” says Jeff Grabow, U.S. venture capital leader for Ernst &Young.
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KCBS interview – EY’s Jeff Grabow – 2014 Year-End VC Report
Venture capital fundraising soared in 2014, spiking 62 percent to nearly $33 billion across 332 funds and highlighting a strong market for early-stage companies, reports Andrea Change, technology reporter for Los Angeles Times.
“Access to capital is available; we’re in a good market for innovation across a lot of different sectors. It’s a healthy fundraising environment, so people are saying, ‘Take advantage of that, make sure you have capital because it’s not always going to be there,’ ” says Jeff Grabow, U.S. venture capital leader for Ernst & Young.
Grabow also notes “that the funding landscape has ‘changed dramatically’ in recent years.” With the help of funding platforms like Kickstarter and Indiegogo, the cost of starting a company is lower than in the past.
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Venture capital funding soars to nearly $33 billion in 2014 (Los Angeles Times)
Other year-end VC articles:
2014 venture capital at $1.3B, most since before recession (The Seattle Times)
San Francisco pulls away as leader in venture money (San Jose Mercury News)
Venture investment in Oregon reaches 5-year high (Portland Business Journal)
EY announced nominations are open for the 29th Annual EY Entrepreneur Of The Year Awards, recognized as one of the most prestigious business award programs in the world.
“Through the Entrepreneur Of The Year program we have the opportunity to celebrate the risk-taking men and women whose tireless efforts are contributing to our thriving Greater Los Angeles community,” said April Spencer, Partner, Ernst & Young LLP, and Co-Director, EY Entrepreneur Of The Year Awards program in Greater Los Angeles. “Entrepreneurs are the bedrock of our economy and we are honored to help put a spotlight on them.”
The program celebrates innovative business leaders and game-changing entrepreneurs from more than 145 cities in 60 countries who found, strengthen or transform successful enterprises. In 2014, more than 34 entrepreneurs leading companies from Greater Los Angeles were selected as EY Entrepreneur Of The Year Award finalists and 13 were chosen as winners. Entrepreneurs may nominate themselves or be nominated by peers and other business leaders.
Applications are due by Friday, March 6, 2015 and can be accessed at www.ey.com/us/eoy/greaterla. The Greater Los Angeles Awards Gala is scheduled for Tuesday, June 16, 2015 at the Beverly Hilton Hotel in Beverly Hills, California.
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EY calls for nominations for the most innovative entrepreneurs
Patrick Niemann is the managing partner of Ernst & Young‘s Greater Los Angeles practice and his office provides audit, assurance, advisory, tax, transaction and other services for more than 1,000 clients, including most of the city’s 50 biggest companies. We get a glimpse into Niemann’s past and ideology in Ronald White’s article “Ernst & Young’s Patrick Niemann is not just a numbers guy” for the Los Angeles Times that shows Niemann is much more than just numbers.
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Ernst & Young’s Patrick Niemann is not just a numbers guy
Global IPO activity continues to strengthen with a 35 percent increase in volume and a 50 percent increase in value compared to 2013. Although 2014 was the best year for IPOs since 2010 in terms of proceeds and volume, volatility on global stock markets in October meant Q4’14 failed to meet expectations, making 2014 a good, rather than record-breaking year.
“We expect a strong start to 2015 for U.S. IPOs. Driven by a combination of low market volatility investor confidence and robust pipeline of more than 100 company getting ready to list,” said Jeff Grabow, partner at Ernst & Young, a global accounting and consulting firm.
Listen to the full KCBS radio interview:
Jason Brooks talks with EY’s Jeff Grabow on IPO
Jason Brooks, KCBS Money Watch Host, interviews Doug Regnier, EY’s West Region IPO Leader, on Global IPO Trends. IPO activity continues to climb with 851 IPOs raising $186.6 billion in the first nine months of the year, a 49% increase in volume and 94% increase in proceeds compared to the same period in 2013. After a quiet August, in which some U.S.-bound companies waited in anticipation of the Alibaba listing, the third quarter posted 260 IPOs, raising $67.1 billion, up 29% and 162% respectively on Q3’13.
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From left to right: Rick Haux,Mor Furniture For Less Inc.; Peter Martini and Paul Martini, iboss Network Security; Mike Grey, Lumena Pharmaceuticals; Ted Schroeder, Cadence Pharmaceuticals; Kathleen Sellick, Rady Children’s Hospital; and Sean Gailey, J!NX.
EY announced the winners of the EY Entrepreneur Of The Year™ Award at The Grand Del Mar in San Diego.
The winners are:
Paul Martini, CEO & CTO and Peter Martini, President & COO, iboss Network Security, San Diego
- Consumer Services
Sean Gailey, President & Co-Founder, J!NX, Poway
Mike Grey, President & CEO, Lumena Pharmaceuticals, San Diego
- Life Science
Ted Schroeder, President & CEO, Cadence Pharmaceuticals, San Diego
- Family Business
Rick Haux, President & CEO, Mor Furniture For Less, Inc., San Diego
- Social Responsibility (non-profit)
Kathleen Sellick, President & CEO, Rady Children’s Hospital, San Diego
EY and Los Angeles Mayor Eric Garcetti have partnered to launch the Entrepreneur in Residence Program, appointing two experienced entrepreneurs to spend a year developing ideas to boost the economy and create jobs in Los Angeles, as reported by the Los Angeles Register.
“This program is distinct because of the caliber and level of experience of the entrepreneurs in residence,” said Patrick Niemann, managing partner at EY’s Los Angeles practice, which is sponsoring the program.
EY is a global leader in assurance, tax, transaction and advisory services.
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L.A. hires its first entrepreneur
The finalists for EY’s Entrepreneur of the Year 2014 in the Pacific Northwest as reported by the Puget Sound Business Journal are:
- Majdi Daher and Mohamad Daher, 3MD dba Denali Advanced Integration, Redmond, Washington
- Ryo Kubota, MD, PhD, Acucela, Seattle, Washington
- Joseph Micallef, Allegro Corporation, Portland, Oregon
- Ben Billups, Billups Worldwide, Lake Oswego, Oregon
- Heather Franklin, Blaze Bioscience, Seattle, Washington
- Leslie Freytag, butter LONDON, Seattle, Washington
- Forest Key, buuteeq, Seattle, Washington
- Kathleen Myers, MD, Essia Health, Portland, Oregon
- Josh Neblett, etailz, Spokane, Washington
- Raja Mukerji and Jesse Rothstein, ExtraHop Networks, Seattle, Washington
- Dan Price, Gravity Payments, Seattle, Washington
- Kyle Stavig, Myers Container, Portland, Oregon
- Matt Ehrlichman, Porch, Seattle, Washington
- Luke Kanies, Puppet Labs, Portland, Oregon
- Glenn Kelman, Redfin, Seattle, Washington
- Aaron Easterly, Rover.com, Seattle, Washington
- Mark Zoske, SaltWorks, Inc., Woodinville, Washington
- Monty Montoya, SightLife, Seattle, Washington
- Kevin Klock, TalkingRain, Preston, Washington
- Joe Whinney, Theo Chocolate, Seattle, Washington
- Darrell Cavens, zulily, Seattle, Washington
The awards program recognizes entrepreneurial leaders who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities. Award winners will be announced at a gala on June 20 at the Hyatt Regency Bellevue in Bellevue, Wash.
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Which entrepreneur might be partying in Palm Springs?
Rami Rostami, founder and CEO of Technocel Wireless Products in Simi Valley, and Jeff Green, CEO and co-founder of The Trade Desk Inc. in Ventura, are among those hoping to clinch the title of EY Entrepreneur of the Year in the greater Los Angeles region, as reported by the Ventura County Star.
The EY Entrepreneur of the Year was founded by Ernst & Young LLP 28 years ago and awards entrepreneurs who demonstrate excellence and extraordinary success in areas such as innovation, financial performance and personal commitment to their businesses and communities.
Business founders in more than 145 cities and 60 countries are recognized in the contest.
Read the full article below:
Local business founders named semifinalists in regional business contest