Recent Posts

Pune (India): A Perfect Symbiosis of Culture and Start-Ups

Pune , the cultural capital of Maharashtra (India) and a large-scale educational and industrial hub, has been selected for development as a Smart City under the Indian Smart Cities Mission. Today it boasts an emerging start-up ecosystem and ranks next to Delhi, Bangalore, and Mumbai in terms of the number of deals and VC funding. The start-up ecosystem of Pune is evolving rapidly. The presence of international corporations and the development of IT industry in the last decade have promoted migration into the city, heavy real estate development and shooting property prices. Read a new CIV City Case on Pune by Dr. Ambuj Gupta. 

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A New Year’s Message From Prof. Moshe Zviran, Dean of the Coller School of Management

Dear friends and members of the CIV community, Since the inception of the Coller Institute of Venture (CIV) in 2013, the Institute has developed into a globally recognized powerhouse for the research and understanding of venture, generating new and valuable insights for scholars and practitioners alike. Jeremy Coller’s deep appreciation for the work of CIV has helped to cement his …

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A Farewell Message From Prof. Yesha Sivan, Executive Director of CIV

Dear friends and members of the CIV community, I’m writing today to reflect with pleasure on a journey that started four years and a half ago, as I conclude my role as the Executive Director of the Coller Institute of Venture (CIV) at Tel Aviv University. CIV was conceived by Jeremy Coller, Eli Talmor, Asher Tishler and Moshe Zviran – the …

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Fair Value Accounting Improves the Quality of Portfolio Company Valuations

In a recent study, partially funded by a CIV Research Grant (2014), Kelvin Law and Nicholas G. Crain delve into the impact of fair value accounting on the valuation of individual private equity investments. The evidence gathered suggests that accounting standards matter for the valuation of private equity investments. Prior to implementation of fair value accounting, the discounted value of cash flows from realized portfolio companies exceeded their valuation by roughly 26%, yet the implementation of fair value accounting appears to eliminate nearly half of this bias, and resulted in a significant improvement in the quality of portfolio company valuations. Read more in a guest post by Nicholas G. Crain.

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Structured Exits: A Potential New Source of Funding for Life Science Startups

Structured exits are an important funding structure for new ventures. Rather than relying solely on the upside from an exit, structured exits can rely on the venture’s anticipated cash flow, or percentage of milestone payments, to repay the investor. For investors, they can offer reduced risk with the possibility of an upside; for ventures, they provide a new source of growth capital and less dilution. For life-sciences companies caught in the “death valley” between seed grants and venture capital eligibility, structured exits - carefully adapted and applied - can be a new alternative or complement to bridge loans, incubators, strategic investors, and non-dilutive funding from government sources. Read more in a guest post by Leslie Mitts, featuring Att. David Gitlin, on the CIV website.

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