Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008 Section I: Taxonomy Section II: Venture Capital Investment Statistics Section III: Buyout Related Capital Investment Statistics Section IV: Venture and Buyout Related Capital Investment Statistics Data pulled: 01/21/2009. Source is Thomson Reuters VentureXpert unless otherwise noted.
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Illinois Venture Capital Association Quarterly Private Equity Monitor
Q4 2008
Section I: Taxonomy
Section II: Venture Capital Investment Statistics
Section III: Buyout Related Capital Investment Statistics
Section IV: Venture and Buyout Related Capital Investment Statistics
Data pulled: 01/21/2009. Source is Thomson Reuters VentureXpert unless otherwise noted.
2
Section I: Taxonomy
Illinois Venture Capital Association Quarterly Private Equity Monitor
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 1
Note: Company totals may not match other tables in this report because quarterly data may include deals with multiple rounds of financing. Yearly totals in the table above are calculated from quarterly data.
Quarterly
$511.090$55,439.45,3142008
$600.1105$41,890.75,2342007
$472.277$35,867.24,5752006
$484.872$30,056.73,9372005
$415.563$29,122.33,7972004
Yearly
$97.222 $10,920.81,1584Q '08
$195.430 $10,388.91,3613Q '08
$139.720 $23,931.21,4492Q '08
$78.718 $10,198.51,3461Q '08
$178.029 $13,240.11,4194Q '07
$124.220$9,618.81,143Qtr Avg
$2,483.7407$192,376.322,857Total '04-'08
Total Capital
(USD Mil)Number of Companies
Total Capital
(USD Mil)Number of Companies
Venture Capital - IllinoisVenture Capital - Nation
Quarterly
$511.090$55,439.45,3142008
$600.1105$41,890.75,2342007
$472.277$35,867.24,5752006
$484.872$30,056.73,9372005
$415.563$29,122.33,7972004
Yearly
$97.222 $10,920.81,1584Q '08
$195.430 $10,388.91,3613Q '08
$139.720 $23,931.21,4492Q '08
$78.718 $10,198.51,3461Q '08
$178.029 $13,240.11,4194Q '07
$124.220$9,618.81,143Qtr Avg
$2,483.7407$192,376.322,857Total '04-'08
Total Capital
(USD Mil)Number of Companies
Total Capital
(USD Mil)Number of Companies
Venture Capital - IllinoisVenture Capital - Nation
4
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 2a
Table 2b
$97.222Illinois 15
$170.715North Carolina 10
$187.337Colorado 9
$210.434Maryland 8
$353.861Pennsylvania 7
$387.211Tennessee 6
$635.947Texas 5
$676.775New York 4
$850.2122Massachusetts 3
$2,911.7390California 2
$3,279.549Washington 1
Investments (USD Mil) Number of Companies Fund Location Rank
Venture Capital Investments
State Rankings – Q4 '08
$97.222Illinois 15
$170.715North Carolina 10
$187.337Colorado 9
$210.434Maryland 8
$353.861Pennsylvania 7
$387.211Tennessee 6
$635.947Texas 5
$676.775New York 4
$850.2122Massachusetts 3
$2,911.7390California 2
$3,279.549Washington 1
Investments (USD Mil) Number of Companies Fund Location Rank
Venture Capital Investments
State Rankings – Q4 '08
$511.075Illinois 16
$981.1191 Pennsylvania 10
$1,026.191 Georgia 9
$1,054.5127 New Jersey 8
$1,141.4122 Colorado 7
$2,081.2258 New York 6
$3,369.8210 Texas 5
$3,728.3442 Massachusetts 4
$7,393.461 Ohio 3
$11,332.6161 Washington 2
$16,238.91,574 California 1
Investments (USD Mil) Number of Companies Fund Location Rank
Venture Capital Investments
State Rankings – Total 2008
$511.075Illinois 16
$981.1191 Pennsylvania 10
$1,026.191 Georgia 9
$1,054.5127 New Jersey 8
$1,141.4122 Colorado 7
$2,081.2258 New York 6
$3,369.8210 Texas 5
$3,728.3442 Massachusetts 4
$7,393.461 Ohio 3
$11,332.6161 Washington 2
$16,238.91,574 California 1
Investments (USD Mil) Number of Companies Fund Location Rank
Venture Capital Investments
State Rankings – Total 2008
5
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 3a
Note: Company total may be higher than in other tables because each state reports transactions separately, so double-counting of companies is possible (e.g. the same company may have received funding from Texas and Illinois).
2%2%$1.71 Minnesota 10
100%100%$97.347 TOTAL
21%6%$5.410 Other
2%2%$1.81 Michigan 9
2%2%$2.31 Virginia 8
4%3%$2.52 Non-US 7
6%3%$2.73 Texas 6
6%10%$9.83 New York 5
23%13%$12.411 Illinois 4
15%14%$14.07 California 3
6%18%$17.53 Undisclosed 2
11%28%$27.25 Massachusetts 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Venture Capital
Geographic Sources of Funding For Illinois Companies Q4 '08
2%2%$1.71 Minnesota 10
100%100%$97.347 TOTAL
21%6%$5.410 Other
2%2%$1.81 Michigan 9
2%2%$2.31 Virginia 8
4%3%$2.52 Non-US 7
6%3%$2.73 Texas 6
6%10%$9.83 New York 5
23%13%$12.411 Illinois 4
15%14%$14.07 California 3
6%18%$17.53 Undisclosed 2
11%28%$27.25 Massachusetts 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Venture Capital
Geographic Sources of Funding For Illinois Companies Q4 '08
6
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 3b
Note: Company total may be higher than in other tables because each state reports transactions separately, so double-counting of companies is possible (e.g. the same company may have received funding from Texas and Illinois).
1.0%0.1%$0.21 Georgia 22
1.0%0.1%$0.21 Pennsylvania 23
1.0%--1 Alabama 24
1.0%0.3%$0.91 New Jersey 21
2.0%0.3%$1.12 Connecticut 20
1.0%0.5%$1.71 Rhode Island 19
2.0%0.6%$2.02 Wisconsin 18
2.0%0.6%$2.32 Minnesota 17
2.0%0.7%$2.52 Indiana 16
1.0%1.0%$3.71 D. of Columbia 15
3.1%1.3%$4.53 Colorado 14
3.1%1.5%$5.33 Michigan 13
2.0%1.5%$5.52 Ontario, (CA) 12
100%100%$358.298 TOTAL
2.0%2.1%$7.42 Ohio 11
5.1%2.5%$9.15 Non-US 10
5.1%3.1%$11.05 Texas 9
1.0%3.1%$11.01 Florida 8
1.0%3.1%$11.01 Virginia 7
5.1%3.8%$13.65 New York 6
3.1%10.4%$37.33 Maryland 5
19.4%18.3%$65.619 California 4
27.6%19.0%$68.027 Illinois 3
9.2%26.3%$94.39 Massachusetts 2
5.1%42.7%$153.15 Undisclosed 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Venture Capital
Geographic Sources of Funding For Illinois Companies Total 2008
1.0%0.1%$0.21 Georgia 22
1.0%0.1%$0.21 Pennsylvania 23
1.0%--1 Alabama 24
1.0%0.3%$0.91 New Jersey 21
2.0%0.3%$1.12 Connecticut 20
1.0%0.5%$1.71 Rhode Island 19
2.0%0.6%$2.02 Wisconsin 18
2.0%0.6%$2.32 Minnesota 17
2.0%0.7%$2.52 Indiana 16
1.0%1.0%$3.71 D. of Columbia 15
3.1%1.3%$4.53 Colorado 14
3.1%1.5%$5.33 Michigan 13
2.0%1.5%$5.52 Ontario, (CA) 12
100%100%$358.298 TOTAL
2.0%2.1%$7.42 Ohio 11
5.1%2.5%$9.15 Non-US 10
5.1%3.1%$11.05 Texas 9
1.0%3.1%$11.01 Florida 8
1.0%3.1%$11.01 Virginia 7
5.1%3.8%$13.65 New York 6
3.1%10.4%$37.33 Maryland 5
19.4%18.3%$65.619 California 4
27.6%19.0%$68.027 Illinois 3
9.2%26.3%$94.39 Massachusetts 2
5.1%42.7%$153.15 Undisclosed 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Venture Capital
Geographic Sources of Funding For Illinois Companies Total 2008
7
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 4a
Note: IT (Information Technology) industries include the following: communications equipment, computer hardware and software, internet, computers and semiconductor companies. Healthcare industries include the following: biotechnology, medical diagnostics, therapeutics, medical products, medical and health services and pharmaceuticals. “Other” industries include the following: consumer related, industrial/energy, transportation, financial services, manufacturing, agricultures, forestry, fishing, construction, utilities and others..
Quarterly
$174.834 $71.821 $264.435 2008
$120.044 $258.025 $222.136 2007
$190.824 $145.919 $135.634 2006
$165.416 $67.612 $251.844 2005
$187.712 $50.616 $177.235 2004
Yearly
$52.59$17.56$27.274Q '08
$61.89$46.09$87.5123Q '08
$8.26$7.04$124.5102Q '08
$52.310$1.32 $25.161Q '08
$60.714$103.56$13.794Q '07
$41.97$31.35$52.69Qtr Avg
$838.7130 $593.993 $1,051.1184 Total '04-'08
Capital Invested
(USD Mil)
Number of
Companies
Capital Invested
(USD Mil)
Number of
Companies
Capital Invested
(USD Mil)
Number of
Companies
OtherHealthcareIT
Venture Capital Invested in Illinois by Industry
Quarterly
$174.834 $71.821 $264.435 2008
$120.044 $258.025 $222.136 2007
$190.824 $145.919 $135.634 2006
$165.416 $67.612 $251.844 2005
$187.712 $50.616 $177.235 2004
Yearly
$52.59$17.56$27.274Q '08
$61.89$46.09$87.5123Q '08
$8.26$7.04$124.5102Q '08
$52.310$1.32 $25.161Q '08
$60.714$103.56$13.794Q '07
$41.97$31.35$52.69Qtr Avg
$838.7130 $593.993 $1,051.1184 Total '04-'08
Capital Invested
(USD Mil)
Number of
Companies
Capital Invested
(USD Mil)
Number of
Companies
Capital Invested
(USD Mil)
Number of
Companies
OtherHealthcareIT
Venture Capital Invested in Illinois by Industry
8
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Chart 1
Venture Capital Invested in Illinois
by Industry
$13.7$25.1
$124.5
$87.5
$27.2
$103.5
$1.3
$7.0
$46.0
$17.5
$60.7
$52.3
$8.2
$61.8
$52.5
$0
$50
$100
$150
$200
4Q '07 1Q '08 2Q '08 3Q '08 4Q '08
US
$ M
illio
n
IT Dollars Healthcare Dollars Other Dollars
96
1012
7
6
2
4
9
6
14
10
6
9
9
0
10
20
30
4Q '07 1Q '08 2Q '08 3Q '08 4Q '08
Num
ber
of
Com
panie
s F
unded
IT Companies Healthcare Companies Other Companies
9
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 4b
Note: Results in the table may be either higher or lower than totals in prior IVCA Monitors because of reclassification of results in the Thomson-Reuter Venture Expert database. Green company investments include, but are not limited to, investments in companies involved in the following industries: batteries, power supplies, alternative energy sources, coal, energy conservation, pollution and recycling, biotech processes for pollution, toxic waste control and oil recovery.
Quarterly
$96.3$80.61242008
$7.5$7.9732007
$32.2$21.01552006
$7.0$2.0632005
$8.3$4.0512004
Yearly
$12.7$46.3224Q '08
$31.2$0.0303Q '08
$32.0$14.8412Q '08
$20.5$19.5311Q '08
$0.4$0.0304Q '07
$151.3$115.54516Total '04 - '08
Illinois Firms' Investment in
U.S. "Green” Companies
(USD Mil)
Investment in Illinois
"Green" Companies
(USD Mil)
Illinois Firms Making
"Green" Venture Capital
Investments
Illinois "Green" Companies
receiving Venture Capital
Investments
"Green" Venture Capital Investments
Quarterly
$96.3$80.61242008
$7.5$7.9732007
$32.2$21.01552006
$7.0$2.0632005
$8.3$4.0512004
Yearly
$12.7$46.3224Q '08
$31.2$0.0303Q '08
$32.0$14.8412Q '08
$20.5$19.5311Q '08
$0.4$0.0304Q '07
$151.3$115.54516Total '04 - '08
Illinois Firms' Investment in
U.S. "Green” Companies
(USD Mil)
Investment in Illinois
"Green" Companies
(USD Mil)
Illinois Firms Making
"Green" Venture Capital
Investments
Illinois "Green" Companies
receiving Venture Capital
Investments
"Green" Venture Capital Investments
10
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 4b1
Table 4b2
Note: Investor firms listed are only those located in Illinois. Deals may have included other investor firms outside of Illinois and therefore may not match other tables.
Blackstone Group, L.P.,Khosla Ventures, Globespan
Capital Partners (FKA: JAFCO America Ventures),
GreatPoint Ventures, Advanced Technology Ventures
(AKA: ATV)
$40.0Coskata, Inc.
Investor FirmsInvestment (USD Mil)Company Name
VC Investments in Illinois "Green" Companies - Q4 '08
Blackstone Group, L.P.,Khosla Ventures, Globespan
Capital Partners (FKA: JAFCO America Ventures),
GreatPoint Ventures, Advanced Technology Ventures
(AKA: ATV)
$40.0Coskata, Inc.
Investor FirmsInvestment (USD Mil)Company Name
VC Investments in Illinois "Green" Companies - Q4 '08
Illinois Ventures LLC$1.0TetraVitae Bioscience, Inc.
CIVC Partners LP (FKA: Continental Illinois Venture Corp.)$11.7Jinko Solar Energy Company, Ltd.
Investor FirmsInvestment (USD Mil)Company Name
Illinois Firms Making VC Investments in "Green" Companies – Q4 '08
Illinois Ventures LLC$1.0TetraVitae Bioscience, Inc.
CIVC Partners LP (FKA: Continental Illinois Venture Corp.)$11.7Jinko Solar Energy Company, Ltd.
Investor FirmsInvestment (USD Mil)Company Name
Illinois Firms Making VC Investments in "Green" Companies – Q4 '08
11
Section II: Venture Capital Investment Statistics
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Table 5 (part 1 of 3)
$40.0TPG; Texas Pacific Group GrowthElevance Renewable Sciences, Inc.28
Venture Capital Investments by Illinois Firms in Illinois Companies - 2008
Table 5 (part 3 of 3)
Note: Unlike the rest of the data in the Monitor, this table and table 9 are derived from two sources, Thomson Reuters Financial and Capital IQ. The IVCA Monitor accepts the categories (venture or buyout) provided by Thomson & Capital IQ. Table totals may differ from other tables in this report because private equity reporting is continuous and therefore changes from day to day for all data sources. Also, some companies may appear in both Venture Capital and Buyout lists because both the type of financing round and the investing firm are considered when compiling the list. For example, if a buyout fund made an investment in a venture capital round of financing it would be considered under both Venture Capital and Buyout lists. .
14
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Section III: Buyout Related Capital Investment Statistics
Table 6
Note: Company totals may not match other tables in this report because quarterly data may include deals with multiple rounds of financing. Yearly totals in the table above are calculated from quarterly data.
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Section III: Buyout Related Capital Investment Statistics
Table 7a
Table 7b
$174.416 Colorado 10
$215.125 Florida 9
$10.511 Illinois 25
$249.918 Massachusetts 8
$259.57 Wisconsin 7
$272.318 Ohio 6
$372.115 Pennsylvania 5
$451.681 California 4
$480.040 Texas 3
$713.410 Tennessee 2
$1,170.224 New York 1
Investments (USD Mil) Number of Companies Fund Location Rank
Buyout Related Investments
State Rankings – Q4 '08
$174.416 Colorado 10
$215.125 Florida 9
$10.511 Illinois 25
$249.918 Massachusetts 8
$259.57 Wisconsin 7
$272.318 Ohio 6
$372.115 Pennsylvania 5
$451.681 California 4
$480.040 Texas 3
$713.410 Tennessee 2
$1,170.224 New York 1
Investments (USD Mil) Number of Companies Fund Location Rank
Buyout Related Investments
State Rankings – Q4 '08
$1,492.820 Utah 9
$787.165Illinois 15
$1,467.532 Tennessee 10
$1,557.355 Virginia 8
$1,721.688 Florida 7
$2,079.157 Georgia 6
$2,215.410 Nebraska 5
$2,845.7116 Massachusetts 4
$4,197.5173 Texas 3
$5,356.9421 California 2
$7,093.8155 New York 1
Investments (USD Mil) Number of Companies Fund Location Rank
Buyout Related Investments
State Rankings – Total 2008
$1,492.820 Utah 9
$787.165Illinois 15
$1,467.532 Tennessee 10
$1,557.355 Virginia 8
$1,721.688 Florida 7
$2,079.157 Georgia 6
$2,215.410 Nebraska 5
$2,845.7116 Massachusetts 4
$4,197.5173 Texas 3
$5,356.9421 California 2
$7,093.8155 New York 1
Investments (USD Mil) Number of Companies Fund Location Rank
Buyout Related Investments
State Rankings – Total 2008
16
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Section III: Buyout Related Capital Investment Statistics
Table 8a
Note: Company totals may be higher than in other tables because each state reports transactions separately, so double-counting of companies is possible (e.g. the same company may have received funding from Texas and Illinois).
7%--1 Pennsylvania 5
20%--3 Undisclosed 6
7%--1 Florida 7
7%--1 D. of Columbia 8
100%100%$10.515TOTAL
7%--1 Minnesota 10
7%--1 Connecticut 9
7%3%$0.31 Ohio 4
7%4%$0.41 Texas 3
20%17%$1.83 Illinois 2
13%76%$8.02 New York 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Buyout Related Capital
Geographic Sources of Funding For Illinois Companies Q4 '08
7%--1 Pennsylvania 5
20%--3 Undisclosed 6
7%--1 Florida 7
7%--1 D. of Columbia 8
100%100%$10.515TOTAL
7%--1 Minnesota 10
7%--1 Connecticut 9
7%3%$0.31 Ohio 4
7%4%$0.41 Texas 3
20%17%$1.83 Illinois 2
13%76%$8.02 New York 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Buyout Related Capital
Geographic Sources of Funding For Illinois Companies Q4 '08
17
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Section III: Buyout Related Capital Investment Statistics
Table 8b
Note: Company totals may be higher than in other tables because each state reports transactions separately, so double-counting of companies is possible (e.g. the same company may have received funding from Texas and Illinois).
1.5%--1 Indiana 18
3.0%--2 Pennsylvania 17
1.5%--1 Colorado 16
3.0%--2 Connecticut 15
4.5%--3 D. of Columbia 14
1.5%0.1%$0.71 Wisconsin 13
4.5%0.1%$1.13 California 12
3.0%1.0%$7.52 Ohio 10
100%100%$786.966 TOTAL
4.5%0.3%$2.33 Texas 11
1.5%1.4%$11.01 Maryland 9
7.6%2.7%$21.05 Massachusetts 8
4.5%2.7%$21.23 Undisclosed 7
3.0%4.9%$38.32 Missouri 6
6.1%5.6%$43.84 Michigan 5
6.1%9.5%$75.04 Minnesota 4
1.5%10.9%$85.51 Florida 3
16.7%14.9%$117.111 New York 2
25.8%46.1%$362.417 Illinois 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Buyout Related Capital
Geographic Sources of Funding For Illinois Companies Total 2008
1.5%--1 Indiana 18
3.0%--2 Pennsylvania 17
1.5%--1 Colorado 16
3.0%--2 Connecticut 15
4.5%--3 D. of Columbia 14
1.5%0.1%$0.71 Wisconsin 13
4.5%0.1%$1.13 California 12
3.0%1.0%$7.52 Ohio 10
100%100%$786.966 TOTAL
4.5%0.3%$2.33 Texas 11
1.5%1.4%$11.01 Maryland 9
7.6%2.7%$21.05 Massachusetts 8
4.5%2.7%$21.23 Undisclosed 7
3.0%4.9%$38.32 Missouri 6
6.1%5.6%$43.84 Michigan 5
6.1%9.5%$75.04 Minnesota 4
1.5%10.9%$85.51 Florida 3
16.7%14.9%$117.111 New York 2
25.8%46.1%$362.417 Illinois 1
% of All Companies
% of Total
Investment
Amount
Invested
(USD Mil)Number of CompaniesFund LocationRank
Buyout Related Capital
Geographic Sources of Funding For Illinois Companies Total 2008
18
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Section III: Buyout Related Capital Investment Statistics
Table 9 (part 1 of 3)
-Richard L. Scott Investments, LLC, Northstar Capital, LLC (FKA: Seidler
Capital, Ltd.),Undisclosed Firm
Drives, Incorporated28
$0.4-Econometrics, Inc. (OTCBB:EOMI)29
-Beecken, Petty & Company LLCEDP Investment Holdings LLC30
Buyout Capital Investments by Illinois Firms in Illinois Companies 2008
20
Illinois Venture Capital Association Quarterly Private Equity Monitor Q4 2008
Section III: Buyout Related Capital Investment Statistics
Table 9 (part 3 of 3)
Note: Unlike the rest of the data in the Monitor, this table and table 5 are derived from two sources, Thomson Reuters Financial and Capital IQ. The IVCA Monitor accepts the categories (venture or buyout) provided by Thomson & Capital IQ. Table totals may differ from other tables in this report because private equity reporting is continuous and therefore changes from day to day for all data sources. Also, some companies may appear in both Venture Capital and Buyout lists because both the type of financing round and the investing firm are considered when compiling the list. For example, if a buyout fund made an investment in a venture capital round of financing it would be considered under both Venture Capital and Buyout lists. .
-KRG Capital Partners, LLCTri-County Petroleum, Inc.98
$91.4H.I.G. Capital, LLCUniqema Americas, Inc.99
$6.5-Unison Maximus, Inc.100
-Milestone Partners,Allied Capital CorporationUnited Road Towing, Inc.101
$37.8Thompson Street Capital Partners Universal Air Filter Company102