Archive for the ‘VentureCapital’ Category

KIRENAGA OBSERVATIONS: Lyft Off?

Posted on: April 15th, 2019 by Kirenaga Partners

Two weeks ago, the ride-sharing company Lyft had its IPO – raising more than $2 billion with a $20+ billion market cap. Since then, Lyft’s stock price has declined by 16% while the overall market has risen.

But here’s the deal: investors who think Lyft has been a failure are Missing the Game. Quite simply, investment alpha is no longer being generated by the public markets. Rather, investment alpha is being generated and captured in the private markets, and those investors who fail to realize that the game has changed are suffering poor portfolio returns as a result.

In this newsletter, we dissect trends in the overall marketplace and the specifics of the Lyft transaction. We focus on who gets paid and the implications for individual investors and their investment portfolios.

Click on the link below and read away. We think you’ll enjoy it, and may even give some serious consideration to re-positioning your portfolio.

Kirenaga Observations: Lyft Off?

Yale Endowment Allocation to Venture Capital Approaches 20%

Posted on: March 11th, 2019 by Kirenaga Partners

The Yale endowment, one of the largest of its kind and pioneer of the alternative investment heavy strategy now so popular across the industry, has increased its allocation to venture capital to 19% as of June 2018. This continues a trend of increased emphasis on venture capital strategies. The allocation to venture capital has risen sharply from the 13.7% weighting seen in 2014.

Perhaps unsurprisingly, we share the endowment’s bullish assessment of venture capital as an asset class. Therefore, we hope this development encourages more investors to consider venture capital allocations for their portfolios.

Finally, you can read a Bloomberg News Network piece on the changes to the Yale portfolio at the link below.

Full Article