3 vc’s on Venture Capital in Kentucky
May 27, 2009
At the venture club in Lexington, Elizabeth Rounsavall, Steve Gailar and Murray Wilson gave overviews of their investment styles and the state of the market:
Elizabeth with Chrysalis: We closed our fund just in time, 6 months prior to the credit meltdown($175 million fund.) We invest in companies with early revenues and early customers IT, Healrthcare services, emerging technologies. Seeing signs of recovery, announced two acquisitions of portfolio companies during the down turn, both at excellent ROI.
Murray with River Cities: invests similar industries but later stage than Chrysalis. Looking for companies with at least $3 million in revenue. Sees terms getting tougher both from banks lending to companies and in the terms on the term sheet. companies are doing what it takes to get the money.
Steve with Kentucky Seed Capital: Invests in pharma, some biotech. only $5 million to invest so very early stage, just helping scientitst form and build the company. Downturn has hurt ability of these companies to get the follow on funding they need.
