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April 24, 2006
Red Herring’s List Turns Into Shopping List
Since June of last year 9 out of 25 companies identified by Red Herring as "European companies and technologies that will change our world by 2010" have been exited by their VCs. We picked up this nugget in a newsletter published by the UK's Library House, which is a new corporate finance advisory firm in London.
In total, nine of the 25 companies have exited, six since the initial HBS publication. Arakis, Kudos and Skype went for trade sales, CMR Fuel Cells had an IPO on AIM, Esmertec did its IPO on SWX, and Q-cells went for an IPO in Frankfurt. ..The largest return multiples earned were approximately 100 times for Bessemer and Index Venture's investment into Skype which was sold to Ebay, for an initial £1.4bn in September 2005. The largest capital gain was from the sale of Q-cells, Apax claims a return of £190m. Disclosed investment into the HBS companies since June 2005 exceeds £56m.
Both Red Herring and Library House, which subsequently tracked the 25 companies, were commissioned by Harvard Business School Alumni to do the work. The complete list is apparently not publicly available.
Despite the title of this post, we don’t really think that strategic buyers and capital market investors used it as a shopping list, but we do think that Red Herring's research and selection process was good.
Read - Library House March Newsletter
Posted on April 24, 2006 06:25 AM | Posted to News And Updates | Permalink
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