Monday, December 27, 2010
What Mattered in 2010: Bruce Hallett, Miramar Venture Partners
All this week, we are sharing the opinions of some of the top influencers in Southern California's high tech community. We asked the same five questions of a variety of top technology entrepreneurs, investors, and others, to hear what they're thinking about, and are sharing it here over the next two weeks.
Last week, we asked with Jim Armstrong of Clearstone Ventures about his opinions, and today, we're featuring the thoughts of Bruce Hallett, a venture capitalist at Miramar Venture Partners.
1. What was the biggest news for you/your firm this year?
In each technology company in which Miramar invests, we are focused on supporting the management team’s successful execution of its plan. Every company in our portfolio grew revenues this year, and several crossed into profitability. None tanked. It was a good year (especially with a terrible economy), except no exits.
2. In your opinion, what events, companies, or people made the biggest impact on the technology world in 2010?
Today, successful entrepreneurs aren't buying big boats or building villas in Cabo after successful exits. Instead, they're going serial by returning to the market with revolutionary new companies. Examples: After successful sales of their prior companies to Google, Ryan and Chad Steelberg are back with BAT, while Gil Elbaz is making big news with Factual. Stuart Frost launched Predixion after selling DatAllegro to Microsoft. More are on their way...
3. What was the biggest lesson you learned over the past year (good or bad)?
The world is more interconnected than ever before and each company needs a global strategy from day one (even if it doesn't plan to execute on it for a while).
4. Who are the people here you think will most influence the technology world in the coming year?
Right here in Los Angeles, Gil Elbaz and his team at Factual are building a platform and pipe for structured datasets that can be accessed (and purchased) as an on-demand service by anyone who needs them. Facebook and Newsweek are already Factual's partners.
5. What are the technologies, companies, or things you think the community ought to pay the most attention to in 2011?
Exits. With some certainty for the next few years about capital gains rates, we are seeing heightened interest from buyers and sellers in completing M&A transactions. A good exit environment will mean a great 2011 for entrepreneurs and VCs.
See more insights from the Southern California high tech community in our continued series tomorrow!