Week 11/01/2004 through 11/07/2004

Prepared by: Dante Fichera, CPA

What’s Hot this reporting period are venture backed companies based in California operating in the Business Services industry and that have raised their Series A round of financing.

On Wall Street CapitalHunter.com identified the following IPO’s and Secondary Offerings:

1. Arlington Tankers had its initial public offering this week for $229 million and trades under the ticker ATB.
2. MarketAxess Holdings had its initial public offering this week for $55 million and trades under the ticker MKTX.
3. Kinder Morgan Energy Partners raised additional capital through a secondary offering for $253 million and trades under the ticker KMP.
4. Top Tankers raised additional capital through a secondary offering for $116.5 million and trades under the ticker TOPT.
5. Incyte raised additional capital through a secondary offering for $87.8 million and trades under the ticker INCY.

CapitalHunter.com was able to verify that $380 million of venture capital was invested in 23 U.S.-based companies during this week’s reporting period. The average deal size was approximately $16.52 million. The amount of venture capital invested this period increased by 51% from last week’s $251 million.

Geographically,10 California companies raised $175.7 million in venture financings. The largest private venture financing in California this period was into FastClick.com who raised $75 million. FastClick.com is a Santa Barbara based company that provides advertising and publishing services.

The business services sector raised 24% of the venture capital this period. Three business services companies raised $94.3 million in venture financing. FastClick.com was the largest financing in this sector.

Companies raising their Series A round of financing led this week’s venture capital activity. Series A financings represented 35% of the total venture capital deployed this period. The largest Series A financing was into FastClick.com.

The three largest venture deals this period are as follows:

The following eleven and other unnamed investors funded the above mentioned top three venture capital investments for $140.7 million:

A total of 48 worldwide equity financings of private and public companies occurred during this reporting period. Each of the 48 equity financings are profiled in a weekly report which include venture financings, private placements, secondary offerings, PIPE’s, and IPO’s.

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