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Finaventures

October 1999

We founded the firm in October 1999. We sent out our Fund I subscriptions on March 13, 2000 to prospective investors who had pledged $120M. The next day and during the next 4 weeks, Nasdaq dropped 1,600 points from a high of 4,906. Facing melting portfolios, our prospective investors started rescinding their pledges. We stuck to our beliefs and pushed our fundraising to the limit, and through Grit & Determination still managed to close our Fund I at $20M by October 19, 2000.

2003-2005

We invested in optical component startups, fabless chip companies, domain name portfolios. Valuations were attractive, building them was hard work. Surviving the Telecom nuclear winter of 2003-2005, we managed to have 11 successful M&As, 2 IPOs (a $700M IPO on Nasdaq and a $200M IPO on the Taiwan TSE), and 2 write-offs, out of a total of 15 investments, but not without pivoting and restructuring many of them before their exit.

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