The Consequences of Entrepreneurial Finance: Evidence from Angel Financings by Josh Lerner

Josh Lerner, Jacob H Schiff Professor of Investment Banking at Harvard Business School, is one of our special guest speakers at SuperReturn International 2012 this year. His presentation will take place on Thursday 1st March, and is entitled: “Transparent, Opaque or Translucent? Information & The Private Equity Industry.”

He will follow this with an in-depth panel discussion on Transparency In Private Equity: Perspectives From Major Industry Players. He will be joined by the following pre – eminent panellists to discuss this topic in detail:

Wouter Pelser, CIO, MN SERVICES

Steve LeBlanc, Senior Managing Director, Private Markets, TEACHERS RETIREMENT SYSTEM OF TEXAS

Tom Rotherham, Director, Private Markets, HERMES EQUITY OWNERSHIP SERVICES

Robert van Schaik, Portfolio Manager, Private Equity, SHELL ASSET MANAGEMENT COMPANY 

Here we present the abstract of the first of two of his recent academic papers, entitled “The Consequences of Entrepreneurial Finance: Evidence from Angel Financings.”
This paper documents that ventures that are funded by two successful angel groups experience superior outcomes to those that are
rejected: they have improved survival, exits, employment levels, patenting, web traffic, and financing. We use strong discontinuities in the funding behavior of angels over small changes in their collective interest levels to implement a regression discontinuity approach. We confirm the positive effect of angel financing on most operations of the venture, with qualitative support for a higher likelihood of successful exits. On the other hand, there is no difference in access to additional financing around the discontinuity. This might suggest that financing is not a central input of angel groups.
To download this paper please click here

SuperInvestor U.S. Interview with Shawn T. Carolan, Managing Director, Menlo Ventures.

Ahead of SuperInvestor U.S. 2012 we interviewed Shawn T. Carolan, Managing Director, Menlo Ventures to get his thoughts on social media, super angels and whether it is still cool to be a venture capitalist. Shawn will be taking part in an expert panel session which will focus on how realistic and sustainable the recent extraordinary valuations…

Interview with Antonia Henbest, Conference Director for SuperInvestor U.S. 2012

Ahead of SuperInvestor U.S 2012, we spoke to Antonia Henbest who is responsible for organising the inaugural event in San Francisco. In this interview she takes us through her role as well as outlining what delegates can look forward to at next week’s conference. Take us through your role as a conference producer for the SuperReturn…

Investor Nomenclature and the Venture Spiral by Manu Kumar, Chief Firestarter at K9 Ventures

Manu Kumar, Chief Firestarter, K9 Ventures

Manu Kumar, Chief Firestarter at K9 Ventures will be taking part in an expert panel session at the upcoming SuperInvestor U.S. event in San Francisco. This session will be focusing on how the challenge from Super Angel investing is going to impact the traditional venture capital industry as well as exploring what unique elements Super…

The SuperReturn 2011 Annual Roundup

It has been a very busy and successful year for the SuperReturn Global Series. Kate Roberts, Portfolio Director for the SuperReturn events looks back on the events of this year and discusses what you can expect to see in 2012. What have been the key topics discussed within private equity at the events this year?…

Looking back on SuperReturn Africa 2011

For more information, visit the SuperReturn Africa website here Thank you to everyone who attended SuperReturn Africa in 2011.  The overwhelming feedback we received was that it was a hugely enjoyable event for all our delegates and speakers. We are already looking ahead to 2012, and with over 300 delegates, and more than 100 expert…

SuperInvestor 2011: Round-Up

By: Kalpana Fitzpatrick   This year’s SuperInvestor was in its most popular year yet, with over 800 attendees,  including over 250 LPs, packed sessions and high profile speakers. The private equity event, which took place in Paris at The Westin Hotel, saw speeches from over 230 industry professionals, including investors, academics, and GPs/LPs with tremendous networking…

Impact Investing: Passing Buzz or Paradigm Shift?

The impact market distinguishes ‘impact-first investors’, who seek optimized social and environmental impact with a financial floor, from ‘finance-first investors’, who seek to optimize financial returns with a floor for impact.

LPs take charge of their destiny

By Kalpana Fitzpatrick The private equity industry is going through a transformation where LPs want to be in charge of their destiny and are not interested in pre-packaged products, according to the chief investment officer of Wellcome Trust. Speaking at the SuperInvestor event in Paris, Danny Truell told delegates that although some investors were happy…

Hands: kick the bad habits of the “woodstock” years

By Kalpana Fitzpatrick Transforming businesses and creating value is what the private industry does best and it should not forget that, Guy Hands, Chairman and CIO of Terra Firma, said. Speaking at SuperInvestor 2011 in Paris, Hands told private equity investors to stop wasting time on continuous fundraising and instead invest time in creating value….