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New Venture Investments

new venture investments
  • (invest) make an investment; "Put money into bonds"
  • (invest) endow: give qualities or abilities to
  • (invest) furnish with power or authority; of kings or emperors
  • A thing that is worth buying because it may be profitable or useful in the future
  • An act of devoting time, effort, or energy to a particular undertaking with the expectation of a worthwhile result
  • The action or process of investing money for profit or material result
  • Dare to do something or go somewhere that may be dangerous or unpleasant
  • Expose (something) to the risk of loss
  • any venturesome undertaking especially one with an uncertain outcome
  • proceed somewhere despite the risk of possible dangers; "We ventured into the world of high-tech and bought a supercomputer"
  • Dare to do or say something that may be considered audacious (often used as a polite expression of hesitation or apology)
  • guess: put forward, of a guess, in spite of possible refutation; "I am guessing that the price of real estate will rise again"; "I cannot pretend to say that you are wrong"
new venture investments - New Venture
New Venture Investment
New Venture Investment
New venture founders and their sponsors seek to create economic value by finding and commercializing new and better ways of doing things. Their common goal, which also defines the purpose of the entrepreneurial process itself, requires a better grasp of the key elements that influence the choices involved in attempting to create economic value under highly uncertain conditions. It also requires a deeper understanding of the consequences of new venture investment as well as the various contextual factors that influence investment decisions and venture outcomes. When confronted with a particular decision making problem faced by entrepreneurs and new venture investors, academic scholars analyze how and why the problem in question is a special case of some theory or model which they know. In seeking to detect generalities and to make abstracted sense of observed realities, academics generally classify the problem in a way that is a natural consequence of the specific discipline- or field-based knowledge they possess (Davidsson, 2002). The explanations that academic researchers provide and the predictions they make are therefore likely to be framed in terms of the types of variables, theoretical perspectives, levels of analysis, and research methodologies with which they are familiar. In seeking to explore the intellectual underpinnings of new venture investment, we have gathered and organized a set of papers that provide scholarly analysis of the choices involved in new venture investment as well as the various contextual factors that influence investment outcomes. To insure a more robust and hopefully interesting scholarly treatment of such problems, we sought to include a variety of interdisciplinary and international perspectives that reflect a broad range of theoretical and empirical approaches.

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The New York Palace Hotel (formerly The Helmsley Palace)
The New York Palace Hotel (formerly The Helmsley Palace)
The New York Palace Hotel (formerly The Helmsley Palace) 455 Madison Avenue at 50th Street New York, NY 10022 Entering The Villard Courtyard through tall iron gates. -------------------- The Villard Houses were brownstone residences built by Henry Villard in 1884. Villard was a railway promoter and financier, who took over the Northern Pacific Railroad in 1881. The architect was McKim, Mead & White. The firm also designed the Pennsylvania Hotel in Manhattan. The six residence building was clad in quarried brownstone and wrapped around a u-shaped courtyard representative of a 15th century Italian palazzo. Four homes opened onto the courtyard while two had entrances on 51st Street. Villard moved into the corner residence at 451 Madison, at the corner of 50th Street for just a short while before declaring bankruptcy. Much of the interior decoration is still visible today in the restaurant Gilt (formerly Le Cirque 2000). In the 1940’s the Villard House was known as Women's Military Services Club. It served women in the military that could stay there for .50 cents a night. By the late 60’s the Archdiocese of New York owned the complex. In the early 70’s Harry Helmsley found the perfect location in which to build his dream hotel. The Villard House was located on New York's Madison Avenue, across the street from St. Patrick's Cathedral. Helmsley negotiated a 99 year lease on the site from the the Archdiocese of New York and proposed gutting the interiors of the Villard and putting a 51-story hotel on top of it. The preservationists prevailed and Helmsley’s plan was changed to save most of the interiors of the Villard houses, though the buildings' rear facades were demolished and incorporated in to the new 51-story hotel. long-term ground lease, which runs for decades. The Archdiocese of New York receives $10 million annually in ground rent. Helmsley commissioned architects Emery Roth & Sons and Hardy Holzman Pfeiffer to design the modern structure and integrate the 1884 houses. The tower’s facade is a dark bronze reflective glass that was to blend with the Villard Houses. Started in 1977, the 905-room hotel project was completed in 1980. Leona Helmsley spent a great deal of time and energy managing the decorating and staffing of the hotel. Leona took seriously her role as President of Helmsley Hotels and was determined to give her guests unprecedented service. On September 15, 1980, the opulent Helmsley Palace Hotel opened. At the time The Helmsley Palace had the highest hotel rates in the city. An early print advertisement featuring Leona had the by-line: “It’s the only palace in the world where the Queen stands guard” The hotel has four Triplex Suites. Situated at the top of the tower and occupying the four corners, each 2-bedroom suite is spread over three floors and include a private roof terrace. In 1982, the limited partners in the Helmsley Palace Hotel partnership forced an arbitration proceeding after Harry Helmsley, in his role as general partner demanded more money from the limited partners for cost overruns in building the hotel. The limited partners said the Helmsley’s had mismanaged the business and had hurt the partnership through several self-dealing transactions. The arbitrators ruled in favor of the limited partners and forced the Helmsley’s to pay the cost overruns and an additional $3.5 million to the partnership. Leona Helmsley, was convicted of income tax fraud in August 1989 - (“We don’t pay taxes … only the little people do”). Leona was convicted of 33 felony counts of trying to defraud the government and IRS, including mail fraud, tax evasion and filing false tax returns (essentially running millions of dollars of personal expenses through the Helmsley Palace and Park Lane books) Harry Helmsley was indicted on similar charges in 1988, but was found too ill to stand trial. He died in 1997. Following appeals Leona Helmsley was imprisoned from 1992-1993. The limited partners in the Palace partnership were rightfully concerned during the Helmsley’s legal mess that the hotel was in desperate need for another general partner. The limited partners contended Helmsley Enterprises breached its fiduciary duties in managing and operating the partnership. They sought through the courts to remove the Helmsleys as general partner, and to appoint a receiver until a new general partner and manager can be found or the hotel be sold. They also sought restoration of any money the Helmsleys may have diverted to their affiliates through self-dealing. Helmsley operated the Helmsley Palace hotel until 1992. She was known to fire managers from her jail cell. Interstate Hotels was appointed by the court as the hotel’s receiver. The hotel changed its name to The New York Palace Hotel. The receiver received 6 qualified bids for the hotel. In November 1993 The Royal Family of Brunei agreed to buy the New York Palace for $202 million (the highest offer). The agreement to buy the Palace is wit
The Ritz-Carlton New York, Central Park
The Ritz-Carlton New York, Central Park
The Ritz-Carlton New York, Central Park South 50 Central Park South, New York, New York 10019 According to the NY Times Donald Trump bought the St. Moritz for $72 million in 1985 from a syndicate led by Harry B. Helmsley. He intended to renovate the property, but instead sold it in 1988 to Alan Bond, an Australian entrepreneur, for $180 million. Mr. Bond eventually gave up the St. Moritz to his lender, F.A.I. Insurances. F.A.I. bought the land beneath the St. Moritz and ran the hotel for much of the 1990's. In April 1998 Ian Schrager, in partnership with NorthStar Capital Investment Corp. acquired the St. Moritz Hotel. The seller was FAI Insurance, an Australian Insurance Company. Credit Suisse First Boston provided acquisition financing. FAI Insurance reported in its 1998 Year End Report that it sold the St. Moritz Hotel in New York for U.S.$185 million and leasing of the fee simple (freehold land) to Ian Schrager Hotels LLC. FAI retained the fee simple deed valued at U.S.$115 million as part of the transaction. Analysts reported that the value of the land alone exceeds the market capitalization of the entire Company. Schrager planned to call upon Philippe Starck to design and redevelop the St. Moritz as a world-class property. Starck was responsible for the design of four of Mr. Schrager's other properties: Royalton and Paramount in New York, Delano in Miami Beach and Mondrian in West Hollywood. A month before selling to Ian Schrager F.A.I. was planning to participate in a $110 million reconstruction of the St Moritz with Donald Trump and Bankers Trust. Trump was planning to strip the 35-story limestone and brick building down to its steel girders and build condominiums under the skin of a new facade. The NY Times reported in November 1999 that Christopher M. Jeffries of Millennium Partners struck a deal to buy the 69-year-old hotel from Ian Schrager's hotel company, which had bought it 18 months earlier. Millennium intends to provide The once stylish hotel a full makeover and become a 300-room Ritz-Carlton Hotel. Under the terms of the deal, Millennium adnd Schrager's company would form a joint venture to convert the top 12 floors of the 35-story building into 14 luxury condominiums and selling for more than $10 million each. Millennium agreed to payoff Schrager Hotels $95 million mortgage with Credit Suisse First Boston and to spend about $150 million renovating the St. Moritz. To build the condominiums Millennium would be required to buy at least a portion of the land under the hotel owned by F.A.I. Insurances. The Ritz-Carlton Hotel Company removed its flags and severed its agreement to manage a nearby hotel at 112 Central Park South in May 1998 The NY Post reported in December 2001 that eight of the 11 condos at 50 Central Park South have sold at prices ranging from $16 million to $50 million. In August 2008 Real estate developer Christopher Jeffries, whose Millennium Partners turned the St. Moritz into a Ritz-Carlton with 277 rooms and 11 full-floor condos, has sold his 29th floor, 5,954-square-foot condo in the building for $28.5 million. Millennium Partners opened the 277-room Ritz-Carlton New York, Central Park in May 2002 along with the French restaurant, Atelier. In 2006 Laurent Tourondel took over the Atelier space on the corner of Sixth Avenue and Central Park South with BLT Market. Earlier History In 1928 the New York Athletic Club was moving into its new clubhouse, a 21 story structure on the East side of Seventh Avenue between 58th Street and Central Park South (where it remains today), and the Uris brothers (Harris and Percy) contracted to buy the old clubhouse at the corner of Sixth Avenue and Central Park South for $2,500,000. They planned to build a 35 story 900 room hotel at a cost of $10,000,000. The architect was Emery Roth. The hotel was to be managed by S. Gregory Taylor (born: Soterios Gregorios Tavoulares). On November 1, 1928, Taylor opened the Montclair Hotel, between 49th and 50th streets on Lexington Avenue. It was designed by Emory Roth with a facade in Spanish style and built by the Harper organization. Taylor was president, Oscar W. Richardson, resident manager and Gaston Lauryssen, associate manager. Harris H. and Percy Uris were also the developers, and the mortgage was for $2,500,000. In 1930 Taylor opened the Hotel St. Moritz, (named after St. Moritz, Switzerland) which had been under construction for two years, with great fanfare. The hotel was 38 stories with 1,000 rooms in units of one room to large suites, with many terrace apartments, and three penthouses. A dinner and dancing salon was on the 31st floor, with Omar Khayyam murals done by David Karfunkel, as well as commanding panoramic views of New York City. Emory Roth was the architect and Laurence Emmons designed the interior. The Rumpelmayer pastry and tea shop was on the 59th Street side of the building - in later years the Cafe de la Paix. In October 1931, the St. Mortiz and the Hot

new venture investments
new venture investments
Raising Venture Capital for the Serious Entrepreneur
Have the negotiating edge when getting your new business off the ground
Written by Dermot Berkery, an internationally known venture capitalist with Delta Partners, this complete toolbook thoroughly details how venture capitalists arrange the financing for a company; what they look for in a business plan; how they value a business; and how they structure the terms of an agreement. Within its pages, you'll find everything you need to successfully raise new business capital with the most attractive terms possible.
Using informative case studies, detailed charts, and term sheet exercises, Raising Venture Capital for the Serious Entrepreneur discusses the basic principles of the venture capital method, strategies for raising capital, methods of valuing the early-stage venture, and proven techniques for negotiating the deal. The author leads you step-by-step through:
Developing a Financing Map
Getting to the First Stepping Stone
Understanding the Unique Cash Flow and Risk Dynamics of Early Stage Ventures
Determining the Amount of Capital to Raise and What to Spend It on
Learning How Venture Capital Firms Think
Creating a Winning Business Plan
Funding Early-Stage Companies
Agreeing on a Term Sheet with a Venture Capitalist
Setting Terms for Splitting the Rewards
Allocating Control between Founders/Management and Investors
Aligning the Interests of Founders/Management and Investors
This invaluable guide also includes term sheet exercises that test your understanding of various financing situations facing companies. In addition, the book features three extensive case studies: the first covering a fictional start-up company used throughout the book, the second offering a stepping stone map, and the third presenting a term sheet used in practice by venture capitalists.