The PE Data Center Buzz
Private Company Valuations: Nanotech
Posted by Justin Byers, Lead Business Intelligence Analyst on May 29, 2008
Nanotechnology is a field that is getting a lot of attention these days. We have uncovered a few of the top Nanotechnology deals for Q4 2007, and here is what we found.
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BioScale, Inc. out of Cambridge, Massachusetts received just over $20 MM. Blackfin Capital and Kendall Investments were two of the investors participating in this Series C offering. The Conventional Convertible preferred stock included Weighted Average anti-dilution protection. The post-money valuation following this round was $58,520,017.
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BIND Biosciences, Inc. raised an additional $16MM in a Series B offering. The Conventional Convertible preferred shares included a Pari Passu liquidation preference with the Series A shares. The investors in this round were Polaris Venture Partners, ARCH Venture Partners, Flagship Ventures, and NanoDimension Management Limited. After this boost from investors, the post-money valuation was $37,606,026.
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Did you see that CardioMEMS, Inc. completed a Series E round with approximately $9.7MM being raised in Q4 2007? Some of the participants in this round included Arcapita Ventures, Medtronics, Inc, Boston Millennia Partners, and Easton Capital Partners. The shares of preferred stock were Participating Preferred and there were 6% cumulative dividends. We found the post-money valuation to be $165,990,209.
After inputting the data into our Cost of Capital Benchmark tool, we see that BIND Biosciences and CardioMEMS came out with slightly better "company-friendly" capital.
Keep in mind, the lower you are on the chart, the more company-friendly the money, the higher you go on the chart, the more investor-friendly the money. If you are a company raising money, you want be lower on the chart. This is a time when it is not best to be on top if you are the company raising money.
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