Centralized online access to the private capital markets.

Fueling American Entrepreneurship

A recap of last year’s Milken Institute panel on Entrepreneurship and job creation that still rings true today. The panel features ACE Portal’s CEO, Peter Williams.

In the post-financial crisis economy, start-ups and small businesses have struggled to access the capital necessary to create jobs. Credit markets have tightened, traditional early-stage equity investors are risk-averse and public market IPO activity has contracted. What can we do to improve the financial landscape for launching businesses? What changes to securities laws and innovative approaches, whether technology, government, or investor-based, will free up capital, and what can be done to develop entrepreneurial hubs and ecosystems across the country?

An Introduction to the Global Start-Up

Start-Ups have been around for a long time. Traditionally, they have been local enterprises run by small business entrepreneurs. Today, however, thanks to the Internet’s global reach, entrepreneurs have the ability to tap networks and establish Start-Up operations all across the world.

Recognizing the potential of international markets, global IT development teams and other types of human capital, Start-Ups are emerging in areas beyond the typical US breeding grounds of Silicon Valley, Boston, New York, Washington, D.C. and Dallas. An increase in technical innovation and start-up activity is now also being seen in cities such as Bangalore, Helsinki, London, Shanghai, Singapore, Sydney, Tel Aviv, Toronto and Zurich.

No matter what the geographic origin, decisions made by Start-Ups at their earliest stages are likely to be among the most critical – as these decisions will impact their future ability to raise funds, engage in mergers or other business transactions, as well as impact their tax position and that of their outside investors.
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Crowd Capital and Online Finance

This is a replay of a Milken Institute thought leadership panel from last year focusing on the role of online platforms in the capital raising platform–both in terms of institutional capital raising, crowdfunding, and P2P. It features ACE Portal’s CEO, Peter Williams, in addition to Angel List, Prosper, Indiegogo, & Guggenheim Venture Partners.

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Placement Agent Indemnification Agreements & Their Effect on PE & VC Funds

Joe Bartlett, of VC Experts, weighs in on indemnification provisions within the role of placement agents raising capital for alternative funds and speculates that they really just foster a circular flow of funds when exercised. This logic begs the question: Does the way these provisions are constructed render them meaningless?

The fund raising process for most of the private equity funds…venture, leveraged buyout, secondary and others…is an arduous business. Alan Patricoff remarked several years ago that after he split from Apax to form Greycroft it took him, a Hall of Fame venture capitalist, three years (as I recall) to reach a final closing on the fund he was sponsoring. Accordingly, it is customary for funds to employ experienced placement agents to assist in the fund raising process.
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Everything You Want to Know about Private Equity

This is a comprehensive set of answers to many of the typical questions investors have regarding private equity. The answers are roughly organized into sections along these lines: General questions/background, legal questions, performance questions, due diligence questions, and exit questions. That said, there is overlap between the answers.  The author’s originally published this article for VC Experts, while most of the information is current (and all of it is informative) there have been some changes with the Dodd Frank Act. In particular this is true of the information related to the investment adviser registration. We will add some updated information to that section in the near future. Read More

Valuation Intangibles – Influencing Risk and Exit Strategy

Effects of the Financing Environment and Intangibles

The supply of and demand for capital play an important but measured role in the valuation a company is likely to command. Capital is most restricted or expensive and valuations under greatest pressure during and following a period involving a sudden market correction or a downturn in the economy. None of us has a crystal ball for future economic growth; pricing is therefore more a function of the current or most recent nature of the marketplace.

During periods of economic softening or market correction, the public markets, as well as the market for mergers and acquisitions, are in flux and directly affect venture investors’ valuation analyses. Venture investors look to the prices established in the marketplace to put a prospective exit value on their investments. The values investors are willing to pay in a public offering and the values corporations are willing to pay to make acquisitions come under pressure and typically decline during a market correction or economic downturn. There is consequential downward pressure on valuations during these periods and, at times, a disconnect between a company’s expectations with respect to valuation and those of investors. As a result, the feeling in the marketplace is a tightening of sources of capital.
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The Renewed Family Office Interest in Direct Investing

In this interview Michael Zeuner, a Managing Partner at WE Family Offices, discusses the renewed appetite among family offices for direct investing. Michael’s discussion with ACE Portal’s CEO, Peter Williams, is wide-ranging yet succinct. They cover why families are gravitating from private equity into direct investing, fee arrangements within transactions, sourcing deal flow, conducting expert due diligence, and organizing amongst families.

 

About WE Family Offices

WE Family Offices is a different kind of wealth advisor. WE stands for Wealth Enterprise and the core of their work is based on the simple tenet that families who are able to successfully manage their wealth do so as they would a business. They build Wealth Enterprises.

Founded on a set of core beliefs, their mission is to work with each client – each different, each complex in their own way – to offer them insight into their wealth management, give them the information they need to make critical decisions, and support to manage their wealth successfully.  It’s about control. It’s about clarity. It’s about knowing where you are in relation to your goals. At your level of wealth they understand it can be overwhelming, but WE Family offices is here to help.

Discover how ACE can work with you.

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