Finance community trading angels for saints - San Francisco Business Times:

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It's a practice that'sw gaining acceptance amid an anemic marketg for initial public offerings that is forcint venture capitalists to be more creative when lookingto sell. San Francisco-based , along with of New are among the few players acquiringvventure capitalists' stakes in portfolil companies. The firms then continue to work closely with management to build the company and providd additional financing as Saints did in December when it participates ina $5.4 million round for . The firm'xs other holdings include stakes inthe , Mountaib View's and Redwood City-based Last year, Saints made 112 investmentse in companies backed by VCs.
Of those, 80 representec significant ownership stakes. The firm made just 44 investmentsin "Our exponential growth in activity signifies substantialp validation for the firm's activity as a leadefr in the direct secondary market," said Kenneth managing director at Saints Capital. Sawyer believeds it will one day be as common for a venturs capitalist to sell to another VC as it is for a privats equity firm to sell a portfolio company to another private equity The firm's name is a play on angel who are at the earliesyt stages of a startup' life while Saints comes marching in later.
speaking at his offices in a San Franciscoi financialdistrict highrise, said the firm didn'tt set out to break new groun in the venture arena when it was founded in 2000. But it was apparenr the market was turning against venture investingy amidthe tech-and-telecom bust, so the firm shiftes gears.