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In non-VC speak, this means that, while Cervin would certainly love 10X+ exits from its portfolio, it's willing to meaningfully support companies that wind up a bit shy of those metrics.
On April 22nd the Corporate Library, a governance-research organisation, published a study that found significantly higher returns in 2003-10 when it excluded from its portfolio firms that according to its governance ratings system were of "high" or "very high" risk.
If the Fed truly wants to tighten, there's an easy, time-tested way to do it: sell bonds from its portfolio to mop up the excess money it's mistakenly spilled onto the financial markets for the past 18 months.
The company said it would remove from its portfolio and refrain from future investment in mining companies that derive more than half of their turnover from coal mining, and in electrical utilities that take more than half of their energy from thermal coal power plants.
However, it still makes money from its portfolio of 1,155 digital imaging patents which have been licensed to more than 30 companies.
Sequoia had been looking for a company in the video conferencing space when it heard about Zoom from its portfolio clients.
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The company said it had been planning for a 50-50 profability of a vote for the UK to leave, and had removed risks from its portfolios, for example by reducing its exposure to European banks' subordinated debt.
The financial services company said it had planned for a 50-50 profability of a vote for the UK to leave the EU, and had removed risks from its portfolios.
The firm began moving all of its clients into alternative strategies (such as its Pure Alpha and All Weather funds), thereby eliminating the traditional investment approach from its portfolios.
Such an issue is, in effect, a gamble that the fund can earn more from its investment portfolio than it pays on the bonds (as much as 6% for those maturing in 2019).
For instance, an A.I.G. property insurer might buy stock from an A.I.G. life insurer's portfolio, paying for them with high-quality bonds from its own portfolio.
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