Qualcomm Sells Some Wireless Spectrum, Report Predicts Cleantech Job Growth in San Diego, JMI’s Paul Barber Talks About Investment Strategy, & More San Diego BizTech News
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the performance of JMI’s previous investments. Barber told me there is “plenty of capital out there, but you have to demonstrate a consistency in your team, your focus, and your performance.” Barber also credits JMI’s performance to the firm’s narrow focus on software, Internet, business services, and healthcare IT.
—Xconomy gathered some of San Diego’s best business minds for an “on the record” dinner discussion in early December, and the experts agreed that access to capital remains the single biggest issue for seed-stage startups in San Diego. Hand in hand with the decline in local venture investing has been the shrinking size of the area’s indigenous venture industry.
—San Diego’s EMN8 has raised $12.2 million of a targeted $18.2 million equity round, after signing an agreement with IBM in September in which IBM is taking on EMN8’s manufacturing, services, and sales responsibilities. EMN8 makes transaction kiosks with touchscreen displays to accelerate customer orders at fast-food restaurants and other retailers.
—Two-thirds of VCs say they expect to see more venture-backed companies going public in 2011, according to a pre-holiday survey released by the National Venture Capital Association and Dow Jones VentureSource. The venture capitalists also predict that venture firms will invest more capital in the coming year.