Monday links: incredible perks


This post is by abnormalreturns from Abnormal Returns


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Resist Trump’s Return to Cruelty


This post is by Continuations by Albert Wenger from Continuations by Albert Wenger


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Humanity has a long and sad history of cruelty to other sentient beings including fellow humans. This is one of the darkest and saddest aspects of our selves and one we have struggled to overcome. Much progress has been made since the Middle Ages when public torture was common. And yet our progress comes from a relatively thin veneer of culture, barely restraining what remains a deep capacity for cruelty.

Among Trump’s worst influences is his embrace of cruelty as a means of politics. It is the most regressive part of his regressive Presidency, outstripping even the dismantling of science. Examples of Trump’s cruelty abound, from mocking people with disabilities to detaining immigrants in concentration camps. As always when it has been used historically, cruelty serves a dual purpose: to deny the humanity of the other and to rally and bond the supporters.

It is a mad and dangerous way Continue reading “Resist Trump’s Return to Cruelty”

VC-backed Phreesia files to go public


This post is by Iris Dorbian from PE Hub Blog: PE-Backed IPOs


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New York-based Phreesia, a healthcare software company, has filed for an IPO. The number of shares that will be sold as well as the stock’s pricing terms have yet to be set. The company plans on trading the stock on the New York Stock Exchange under the ticker symbol “PHR.” J.P. Morgan, Wells Fargo Securities and William Blair are the lead underwriters. Phreesia’s backers include LLR Partners, HLM Venture Partners, Polaris Partners, Ascension Ventures, Echo Health Venture and Blue Cross Blue Shield Venture Partners.

PRESS RELEASE

NEW YORK, June 24, 2019 /PRNewswire/ — Phreesia announced it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of shares of its common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined. The

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TPG to invest in Harlem Capital Partners


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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TPG has agree to acquire make an investment in Harlem Capital Partners, an early-stage venture firm. No financial terms were disclosed.

PRESS RELEASE

San Francisco and Fort Worth, Texas – June 24, 2019 – TPG, a global alternative asset firm, today announced it has signed a definitive agreement to make a non-controlling strategic investment in Harlem Capital Partners (HCP), an early-stage venture capital firm. In connection with its investment in the company, TPG will commit capital to HCP Fund I. The investment will provide HCP access to resources to help scale its business, enhance operating capabilities, and support its portfolio. Terms of the investment were not disclosed.

Led by Managing Partners Henri Pierre-Jacques and Jarrid Tingle, HCP is committed to backing minority and women founders across industries in the United States. The firm is on a mission to change the face of entrepreneurship by investing in 1,000 diverse founders over

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Book: Reboot: Leadership and the Art of Growing Up


This post is by Brad Feld from Feld Thoughts


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Jerry Colonna has written a “must read for everyone on planet earth book” titled Reboot: Leadership and the Art of Growing Up.

Seriously, go by it right now. I’ll be here when you return.

Regular readers of this blog know that Jerry and I are extremely close friends and have been for 23 years. I first met Jerry when he was beginning his partnership with Fred Wilson at Flatiron Partners. But, I didn’t meet him through Fred. I met him through NetGenesis, a company I was chairman of at the time that had been started by Rajat Bhargava (who we still work with as CEO of JumpCloud), Matt Cutler (who we still work with as CEO of Blocknative). I won’t repeat the story of Brad, Jerry, eShare, and NetGenesis, but it makes me incredibly happy to reflect on 23 years of friendship, which nicely lines up with

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Aurora acquires Petroleum Service Corporation


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Aurora Capital Partners has acquired Petroleum Service Corporation, a provider of product handling and site logistics services for the petrochemical, refining, midstream and marine transportation sectors. No financial terms were disclosed. Rothschild & Co. served as financial adviser to SGS and PSC, while Piper Jaffray & Co. did likewise for Aurora.

PRESS RELEASE

LOS ANGELES, June 24, 2019 /PRNewswire/ — Aurora Capital Partners (“Aurora”), a leading middle-market private equity firm, today announced the acquisition of Petroleum Service Corporation (“PSC” or the “Company”). PSC is the North American leader in product handling and site logistics services for the petrochemical, refining, midstream and marine transportation end markets. PSC is a subsidiary of SGS (SGSN:SW), the world’s largest inspection, verification, testing and certification company.

“PSC is an excellent fit with Aurora’s investment strategy. Over the past 65+ years, PSC has become the established leader in product handling and site logistics across a

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Adviser links: confusing and misleading


This post is by abnormalreturns from Abnormal Returns


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L Catterton to buy Del Frisco’s for about $650 mln


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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L Catterton has agreed to acquire Irving, Texas-based Del Frisco’s Restaurant Group, a restaurant operator, for about $650 million. Piper Jaffray & Co served as financial adviser to Del Frisco’s and its board of directors with Kirkland & Ellis LLP providing legal counsel. And, Credit Suisse served as financial adviser to L Catterton while Gibson Dunn LLP served as legal adviser.

PRESS RELEASE

IRVING, Texas, June 24, 2019 — Del Frisco’s Restaurant Group, Inc. (the “Company” or “Del Frisco’s”) (NASDAQ: DFRG) and L Catterton, the largest and most global consumer-focused private equity firm, today announced that they have entered into a definitive agreement under which affiliates of L Catterton (the “Purchaser”) will acquire the Company in an all cash transaction valued at approximately $650 million. Del Frisco’s stockholders will receive $8.00 per share, representing a 22% percent premium to the closing share price on December 19, 2018, the last

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Watt It Takes: Creating a Battery Unicorn by Learning From Previous Cleantech Busts


This post is by info@greentechmedia.com from Greentech Media: Headlines


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This week on&nbsp;<em>Watt It Takes</em>: How a Ukrainian immigrant quietly toiled away on a new battery chemistry and created a cleantech unicorn.


Powerhouse CEO Emily Kirsch sits down with Gene Berdichevsky, the CEO of Sila Nanotechnologies, to talk about building a battery company by applying lessons learned from other failures.


Sila is developing a new lithium-ion battery chemistry that uses silicon in place of graphite, leading to an improvement in battery density by 20 percent. This spring, Daimler led a $170 million round in Sila, valuing the startup at $1 billion.


Berdichevsky was the seventh employee at Tesla, where he developed the Roadster&rsquo;s battery. For the last eight years, Berdichevsky&rsquo;s team at Sila has been working on a drop-in replacement for today&rsquo;s lithium-ion batteries. What will it take to scale over the next decade?


This conversation was recorded live at Powerhouse&rsquo;s headquarters.&nbsp;<a href="http://powerhouse.fund/events/" >Buy tickets</a>&nbsp;for upcoming events.


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BBRG: SEC’s New ‘Best Interest’ Rule Is Far From Best for Investors


This post is by Barry Ritholtz from The Big Picture


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SEC’s New ‘Best Interest’ Rule Is Far From Best for Investors The brokerage industry has again skirted the need to put investors first. Bloomberg, June 24, 2019.         The past decade has seen a big shift in how investors put their capital to work. The rise of indexing has gone through several…

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Understanding Gender Bias In Venture Funding


This post is by Fred Wilson from AVC


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USV portfolio company goTenna‘s founder and CEO Daniela Perdomo and USV analyst Dani Grant did some number crunching on VC funding and published the info last week.

The good news is that in business sectors where women are well represented in the customer set, women founders are raising more (on a pro-rata basis) than their male counterparts.

The bad news is in the rest of the business sectors, women founders raise a lot less (on a pro-rata basis) and in “deep tech” the numbers are particularly bad.

These conclusions ring true to me based

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10 Monday AM Reads


This post is by Barry Ritholtz from The Big Picture


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Welcome to Summer! Kick it iff with our morning train reads: • Interest Rates Around the World Are Coming Down. What Investors Need to Know. (Barron’s) • Welcome to the Age of Surveillance Capitalism (Bloomberg) • The Boomers Ruined Everything: The mistakes of the past are fast creating a crisis for younger Americans. (Atlantic) •…

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