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Insights

The Weight, Part III - The Final Chapter?

// Jim Anderson

August 22, 2013 - With a string of profitable quarters on the books, it seems that the fiscal weight of Fannie Mae and Freddie Mac peaked at $187.5 billion. These government-sponsored enterprises (GSEs) became wholly-owned subsidiaries of the U.S. Treasury in 2008.  Fannie and Freddie are the only part of the financial sector bailout that hasn’t yet shown a profit for taxpayers, but that milestone will be reached later this year.
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Quantitative Easing and Foreign Exchange

// Darren Going

August 21, 2013 - In our last edition of Foreign Exchange Insights, we discussed how Central Bank Policies have impacted Foreign Exchange rates.  We discussed the recent measures the European Central Bank took, as well as those taken by the Japanese Central Bank. In this edition we are going to continue with our Central Bank focus, but we will focus on the steps the US Federal Reserve Bank is taking. We will discuss the impact that it is having on the FX Markets.
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Understanding Venture Debt

// Zack Mansfield

August 20, 2013 - There are several different forms of venture debt, and stepping back and viewing the issue at a high level makes sense in helping to understand the whole.  Venture debt ostensibly refers to debt financing which is offered to companies who have a professional investor as a significant equity-holder in the company.
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Bernanke's Bear Baiting

// Jim Anderson

August 6, 2013 - Bear baiting was a favorite of both Henry VIII and Elizabeth I. They even built a specialized pit, the Bear Garden, at Bankside in London that could seat up to 1,000 bettors. The bear was attached to a post in the pit and several English bulldogs were tossed in to carry out the “worrying” cited above.
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Q2 2013 Venture Exits Update

// Wiley Becker

June 30, 2013 - In Q2 2013, there were 84 venture backed M&A transactions with $3.0B in disclosed deal value.  Number of transactions continued to decline by 8% on a rolling four quarter basis, while disclosed value also fell by 17%.  The fall in disclosed value may partly be due to a decline in the percentage of deals with disclosed value from 24% to 22% over the same time period.

 

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Q2 2013 Venture Investments Update

// Wiley Becker

June 30, 2013 - There were 913 venture capital deals in the US in Q2 2013 totaling $6.7B. This represents an increase over Q1 2013, but continues a slight decline of 3% in dollars raised on a rolling four quarter basis. 302 of the deals in Q2 2013 were first time financings, which totaled $1.1B. First time financings as a percentage of all venture deals increased slightly from Q1 2013 to represent 33% of deals and 17% of dollars raised.
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