Wednesday, February 25, 2009

reuters: lehman selling vc unit - Teneya Capital

"Lehman Brothers Holdings Inc said on Tuesday it struck a deal to sell its venture capital business to a group led by the unit's management team and investment firm HarbourVest Partners. The price was not disclosed.

The unit will be renamed Tenaya Capital and will have $750 million under management and about 45 portfolio companies.

Lehman Brothers filed for bankruptcy protection in September after trying to finance too many risky assets with too little capital. It has been selling various assets since then, including December's sale of its prized asset management unit Neuberger Berman to a team consisting of Neuberger's management."

2 comments:

Carole Geronimo said...

I'm not very savvy about Wall Street, but Lehman and the banks and others make me believe that what they are playing (some of it with unions, states, etc.'s money) is a uber large, uber prive shell game. The plan is to make us think that there are nuts under each shell or that we are bright enough to figure which shell is not hollow. But just like that trickster in Times Square, they pocketed the nuts. I am disgusted with Wall Street, greed and corruption. I'm just afraid that the regulators are too few, too enchanted with the non-speak, non-disclosure of investment firms and too hooked into the mantra that the firms will police themselves to do anything about it.

Anand said...

Wanted to share some insights on Lehman Brothers Venture Partners (LBVP) portfolio from our startup/investor information platform, ChubbyBrain. (Please note that our information on the composition of their portfolio may not be complete although it appears to be)

- 48 portfolio companies on ChubbyBrain
- The portfolio mix for these 48 companies breaks down as follows: 25.0% in Consumer Products & Services, 25.0% in Business Products & Services, 47.9% in Technology and 2.1% in Industrial
- They’ve regularly co-invested alongside Benchmark Capital, Sequoia, DFJ, Intel Capital, Kleiner Perkins, Austin Ventures and Mayfield
- The portfolio's rating is just shy of 5-stars (based on only 3 reviews for TeleNav, MyShape and Kayak)

LBVP's full investor profile is visible here:
Lehman Brothers Venture Partners Profile on ChubbyBrain

Thanks,
Anand