|1996 , a total of 865
initial public offerings in all industries raised $48.9 . $115 billion
raised in total.
|$800 million in S/W in Q3
|†Morgan Stanley with total proceeds of $206.6
million from 17 deals. The largest deal the firm completed in 1996 was the
$2.6 billion IPO of Lucent Technologies ( Morgan Stanley earned $102.9
million in proceeds from the deal.
|Goldman Sachs posted $203.5
million in proceeds from 24 deals and slid from the No. 1. Alex Brown was
investments in 1996, Silicon Valley remained No. 1 in terms of both dollars
invested ($2.1 billion) and number of companies (492), according to Price
Waterhouse. The Valley accounted for 35.8 percent of high-tech investments in
1996; New England came in second, with 13.4 percent.
|1993 when 707 IPOs raised
|Seed: Generally covers
payroll through to first working proto or proof of concept. Risk in this has
resulted in specialists doing only this round. Incomplete management etc not
really a problem. Not enough can end up with expensive bridge funding
|First round generally $2-$5m
or 5-10 times the amount raised in the seed round. Incomplete management a
problem at this stage. May be more funding stages. This is wherestatistically
the founder exits as CEO.
|Mezzanine: Last round before
IPO -usually an unplanned funding to keep payroll going before an IPO