Venture capital activity in the low-earth orbit sector

In research commissioned and published by NASA, Bella Research takes a penetrating look at venture capital investment in low-Earth orbit (LEO) space companies. We not only quantify the amount invested and number of deals over time, but also identify the most prevalent areas of investment (launch vehicles and miniature earth observation/remote sensing satellites) and examine the performance of VC-backed LEO firms to date.

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The impact of early stage equity funds in Latin America

This report, commissioned by the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, examined the direct and indirect social impacts of three early stage investment funds: Vox Impact Investing Fund I, a Brazilian impact investment fund headquartered in São Paulo; Progresa, a classic VC fund located in Medellín, Colombia and focused on healthcare and technology companies; and NXTP Labs, a LatAm regional seed fund managed by an investment firm that runs an accelerator modeled on Silicon Valley’s Y Combinator. Through a deep examination of the history and strategies of each fund, as well as detailed analysis of the investments in their portfolios, we found that the funds were effective in supporting the region’s economic development and contributed to improving the VC ecosystems in which the funds operated.

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The impact of the America Invents Act on small businesses

The Small Business Administration Office of Advocacy contracted the Bella team to evaluate the impact on small businesses of the 2011 Leahy-Smith America Invents Act, the most substantive change to U.S. patent law since the 1950s. To rigorously assess the legislation’s impact, we performed three quantitative analyses: a public company event study, a venture capital financing analysis, and an investigation of a similar patent law shift in Canada in 1989. We complement the empirical findings with an extensive literature review and insights from interviews with various industry experts.

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