Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
The close contact that venture capitalists have with companies they fund can be uncomfortable, at least according to two panelists at the 17th Annual Minnesota Venture Finance Conference in October.
“By and large, venture capitalists are lazy,” said panelist Steve Oesterle, M.D., a Medtronic Inc. senior vice president. “They like to start firms up 15 miles from their office, because they like to keep their thumb in the eye of the companies they’re controlling, if you know what I’m talking about.”
“I know what you’re talking about,” replied fellow panelist Bonnie Baskin, as the crowd of entrepreneurs and financiers roared. She’s CEO of AppTec Laboratory Services in St. Paul, and raised $14 million in February 2003 from venture capitalists to finance a new facility.
Oesterle began his remark with an “apology” to moderator Pete McNerney, managing partner of venture capital firm Thomas, McNerney and Partners and an AppTec board member. McNerney responded that he believes it’s a shortage of experienced biotech entrepreneurs, rather than dispirited venture capital funding, that limits the growth of the industry in Minnesota.
The Collaborative and the Minnesota Venture Capital Association sponsored the conference.
Bonnie Baskin, AppTec Laboratory Services: 651.675.2000
