The hits just keep on coming for Elevation Partners, the one-time digital media, private equity dream team that has reconfigured itself as an investor in late stage Web 2.0 treasures. Earlier this summer, Elevation requested an extension on investing its $1.9 billion fund, and TechCrunch has learned that that request was denied—a move that came as surprise to us and to Elevation, we hear.
So… → Read More
Elevation Partners has quietly amassed another huge chunk of Facebook shares on the secondary market, according to a recent letter to its limited partners. Elevation spent $120 million for five million more Facebook shares. This is on top of Elevation’s $90 million, 2.5 million share purchase back in November.
That November deal has already gone up 2.5 times in value in a short eight months… → Read More
Avadis “Avie” Tevanian, a former chief software technology officer at Apple, has jumped ship to Elevation Partners, where he will be a Managing Director.
Tevanian joins Fred Anderson, Apple’s former CFO who is a managing director at Elevation. Elevation is also the largest investor in Palm, and brought in Apple exec Jon Rubinstein as CEO of the mobile company. Tevanian will help Elevation… → Read More
Can Palm’s upcoming operating system, Nova, revive the fortunes of the flagging company? Palm’s biggest investor, Elevation Partners, is putting $100 million into that Nova, after already spending $325 million for 25 percent of the company last year. Maybe all Palm needs is a really good tune-up, but it is going to be tough to go up against all the newly-polished goodness coming from… → Read More