[linux-elitists] [SCO] Integral Capital Management?

John Beimler john@radiomind.com
Fri Aug 29 08:28:48 PDT 2003


Jonathan Corbet wrote:
> Amongst today's pile of regularly scheduled 10b-5 share dumps by SCO execs
> is this interesting document:
> 
>   http://www.sec.gov/Archives/edgar/data/1102542/000095000503000879/p17611_sc13g.txt
> 
> It describes the acquisition of 324,550 shares (price unspecified) by a
> twisted maze of companies with names like Integral Capital Management V,
> LLC, ICP Management V, LLC, Integral Capital Partners V, L.P., Integral
> Capital Partners V Side Fund, L.P., and several others. 
> 
> ICP appears to be some sort of venture fund; they are at
> http://www.integralcapital.com/.  They don't list SCO in their portfolio,
> though that might just be a matter of time.
> 
> One wonders if this group just fed $5m into SCO, and, if so, why?  
> 


Groklaw (http://radio.weblogs.com/0120124/) had an idea on why, but the 
post has dissapeared, here's what I had of it:

 > Small World Dept.-- Or a MS Connection?
 >
 > There's more than one way to fund a company, it seems. An alert reader
 > noticed that "Integral Capital Management/Partners companies by 22
 >  August owned a total of 1,360,000 shares in SCO. 22 Aug was the date
 > their total went over 5% and hence required filing." Here's their SEC
 > filing. I thought I'd just check and see who thinks SCO is worth
 > buying right along about now. I was particularly interested because
 > last Friday was when I noticed a surge in buying. So I went digging.
 >
 > Yahoo lists them as one of the "Top Institutional Holders" of
 > Drugstore.com, the top holder, as a matter of fact. And you can read
 > the stock purchase agreement the parties signed on Findlaw. Here's how
 > they describe themselves in the SEC filing:
 >
 > "This statement is being filed by Integral Capital Management V, LLC,
 > a Delaware limited liability company ('ICM5'), ICP Management V, LLC,
 > a Delaware limited liability company ('ICP Management 5') and 
Integral > Capital Management VI, LLC, a Delaware limited liability company
 > ('ICM6'). The principal business address of ICM5, ICP Management 5 and
 >  ICM6 is 3000 Sand Hill Road, Building 3, Suite 240, Menlo Park,
 > California 94025.
 >
 > "ICM5 is the general partner of Integral Capital Partners V, L.P., a
 > Delaware limited partnership ('ICP5'). ICP Management 5 is the 
general > partner of Integral Capital Partners V Side Fund, L.P. ("Side 
Fund")
 > and the Manager of Integral Capital Partners V SLP Side Fund, LLC
 > ('SLP Side Fund'). ICM6 is the general partner of Integral Capital
 > Partners VI, L.P., a Delaware limited partnership ('ICP6'). With
 > respect to ICM5, ICP Management 5 and ICM6, this statement relates
 > only to ICM5's, ICP Management 5's and ICM6's indirect, beneficial
 > ownership of shares of Common Stock of the Issuer (the 'Shares'). The 
 > Shares have been purchased by ICP5, Side Fund, SLP Side Fund and ICP6,
 > and none of ICM5, ICP Management 5 or ICM6 directly or otherwise hold
 > any Shares. Management of the business affairs of ICM5, ICP Management
 > 5 and ICM6, including decisions respecting disposition and/or voting
 > of the Shares, resides in a majority of the managers of ICM5, ICP
 > Management 5 and ICM6, respectively, such that no single manager of
 > ICM5, ICP Management 5, or ICM6 has voting and/or dispositive power of
 >  the Shares. "
 >
 > Google had almost nothing listed for this investment entity. Why, I
 > asked myself, would they be buying now? Maybe a golf buddy or
 > something like that, trying to help out? Here's a list of some of the
 > other companies they have invested in.
 >
 > Just when I thought I'd hit a dead end, I started to read
 > Drugstore.com's 10Q, their most recent, just filed this month. Because
 >  this is the other company Integral has invested in heavily, maybe I'd
 >  find something there.
 >
 > And lo and behold, guess who was just elected a director of
 > Drugstore.com? Melinda French Gates. Yes, that Mrs. Gates.
 >
 > As of last December, Integral Capital Management didn't own any SCO
 > stock, according to this SEC filing, just Drugstore.com and the other
 > companies you see on the list. They didn't own any Microsoft stock
 > back in December either. Now they have invested in all three
 > companies.
 >
 > Small world, isn't it?



Peace.

john




More information about the linux-elitists mailing list