This summer is turning into a profitable one for venture capital firms, as they notched a steady stream of exits from portfolio companies in July.
During what is typically a slow season on Wall Street, initial public offering activity moved at a steady pace all month with five venture capital portfolio companies making it onto the public markets with mixed results. The offerings for Airvana Inc.
stumbled, and Voltaire Ltd.
slipped lower in its first days, while BladeLogic Inc.
soared 47% out of the gate. Also performing well were Netezza Corp. and Shoretel Inc., which have both advanced higher since going public.
On the other end of the spectrum, M&A showed no signs of abating in July, as strategic acquirers spent more $2 billion on portfolio companies, led by Google Inc.'s $625 million
purchase of Postini Inc. The San Carlos, Calif., Internet security provider had
received $36 million in funding from AltoTech Ventures, August Capital, Bessemer Venture Partners, Mobius Venture Capital, Pacifica Fund, Summit Partners and Sun Microsystems Inc.
—George White Tags:
venture capital,
M&A,
IPO, Voltaire and BladeLogic
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