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There is still some rotation left in the US markets: Santosh Rao

on September 9, 2020

I do not think that we are done with the market and there is no recession. It is kind of disconnected and does not need to carry over to other countries. It is more specific to the US. The US markets after pulling back will consolidate and go back up.

Judges, more details announced for Summerfest Tech pitch competition

on August 5, 2020

Representatives from some of the largest venture capital funds in the Midwest and the U.S. have been assembled to judge Startup Wisconsin Pitch at Summerfest Tech in September.

The judges selected for the competition are Rashaun Williams, general partner at Manhattan Venture Partners; Allison Weil of Chicago’s Hyde Park Venture Partners; Craig Schedler of Northwestern Mutual Future Ventures, the venture arm of Milwaukee-based Northwestern Mutual, and Girish Ramachandra of Wipfli and Hyde Park Angels in Chicago.

IPOs Are Soaring. What That Means for the Broader Market.

on June 15, 2020

Santosh Rao, head of research at Manhattan Venture Partners, which focuses on pre-IPO companies, says the recent flurry shows pent-up demand for new offerings. He thinks that the appetite is likely to remain strong for enterprise software firms like Databricks, Datastax, and Palantir, which he says could come public in the next 12 to 18 months.

One note of caution: Rao warns that the IPO market tends to shut down when the VIX —a measure of market volatility—goes north of 20 or 30. On Thursday, the indicator spiked above 40 for the first time since late April.

There is definitely a demand shock from coronavirus outbreak: Santosh Rao

on March 13, 2020

It is just starting to get worse as Trump is now addressing the coronavirus situation. We do not have New York in full-fledged lockdown yet, but it looks like it is on its way there and the markets are reeling with uncertainty.
There is definitely a demand shock. There is a lot of news flow also and WHO has announced that it is a pandemic even though we knew that it was there. The market took another leg down. There is so much cross-current.

Small pre-holiday moves on Wall Street

on February 18, 2020

“One of the big fears is we don’t know how bad the China coronavirus effects are. Is it going to be beyond China, the impact? So we don’t know that at this point. Every time it looks like it is contained, we get more news that it’s not. So I think that’s what’s causing some confusion there and that could be one of the reasons why the bond market is doing so well because people are saying we don’t want to take the risk.”

A Reuters poll of economists predicts the world’s second-biggest economy will slow to its weakest quarterly growth since the financial crisis over a decade ago.

Coronavirus is ruining the wedding industry: bridal boutique owner

on February 18, 2020

Coronavirus is infecting businesses.

It’s not just the wedding industry at risk. Electronics supply could be hit as well, including iPhone production.

“It’s everything: consoles, laptops, phones,” Santosh Rao, head of research at Manhattan Venture Partners, told Marketplace.

TV production could be next, Rao adds, as well as video game releases, since China supplies a significant amount of game development.

The impact of coronavirus is being felt across the global economy

on February 13, 2020

It’s been a month since China announced the death of the first victim of the new coronavirus. The outbreak has since infected more than 44,000 people and spread far beyond China.

Federal Reserve Chairman Jay Powell told lawmakers on Capitol Hill this week that he’ll be watching for the virus’s impact on the U.S. economy.

Santosh Rao, head of research at Manhattan Venture Partners, said coronavirus has the potential to disrupt the electronics supply chain.

Wall Street Breakfast: Trade Comes Back Into Focus

on February 7, 2020

Planning to list on the NYSE today under ticker “CSPR,” Casper has priced its initial public stock offering at $12 a share, down from an earlier range of $17 to $19. That values the company at around $500M, down from the $705M it valued itself at last week, and a significant hit for the mattress company that once prided itself as a unicorn. “The days of growth at any cost are over,” said Santosh Rao, who researches IPOs for Manhattan Venture Research. “You either have to be profitable, or take a haircut.”

Casper IPO reflects investor sentiment toward money-losing companies

on February 6, 2020

“The days of growth at any cost are over,” said Santosh Rao, who researches IPOs for Manhattan Venture Research. “You either have to be profitable, or take a haircut.”

Turo Adds Another $30M To Series E

on February 5, 2020

The new round of funding brings Turo’s total funding to $500 million, and adds Manhattan Venture Partners and Allen & Co as investors in the company. Through Manhattan Venture Partners, Fitzgerald, 2 Chainz, NBA players Victor Oladipo, Langston Galloway, and Thad Young, and NFL players Dee Ford, Tyrod Taylor, Malcolm Jenkins, and Clint McDonald are now shareholders in the company.

Manhattan Venture Partners is somewhat known for bringing a celebrity touch to private company funding rounds. The VC firm has an “All-Star Fund,” that helps celebrities and athletes invest in private companies.

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