Fund Management & Direct Investment Results
Prudential-Bache Capital Partners (PBCP) – New York, NY/San Francisco, CA
As President & CEO, John F. Mangan, Sr., was responsible for the management of two venture capital limited partnerships created exclusively for and restricted to the senior executive officers of Prudential-Bache Securities, Inc. The partnerships had total combined capital of $72,737,000 of which $14.5 million was funded by individuals and $58.2 million by the parent, Prudential Insurance Company.
Responsibilities included formulating investment criteria, supervising the internal procedures necessary for investment and disinvestment decisions, all necessary monitoring activities of portfolio investments, establishing offices in New York City and San Francisco, CA., staffing each office with senior professionals and appropriate support staff and establishment of co-investor relationships with other professional institutional venture capital investors.
LP I – returned 100% of investor capital ($37.4 million) and returned an additional 115% of investor profits ($43.1 million) from the sale of 17 investments. Remaining assets were then “merged” into LP II for administrative purposes.
LP II – returned 100% of investor capital ($35.3 million) and returned an additional 85% of investor profits ($30 million) from the sale or merger of 18 remaining investments.
(a complete description of LP I & LP II including a summary and financial results of the direct investments in each portfolio is available for download at: PBCP Summary & Results )
Rose Investment Company (RIC) – New York, NY/San Francisco, CA
As the Managing General Partner, John F. Mangan, Sr., was responsible for the management of a privately funded venture capital limited partnership for the purpose of achieving capital growth through a diversified investment portfolio consisting of a variety of industries, geographical balance and a range of investment sizes. Stage of investment was primarily confined to start-up or early stage companies including turnaround situations in need of capital and/or improved management capabilities.
Upon completion of the divestiture program, the average rate of return on investment was 4 times investment cost.
(a complete description of RIC including a summary and financial results of the direct investments in the portfolio is available for download at: RIC Summary & Results )