Paul English, Kayak, Sequoia, and the Triple-Digit Club

My most recent Globe column focused on what I call the "Triple Digit Club" -- companies that have raised $100 million or more in venture capital funding.

The club includes Boston-area companies like E Ink, Kayak, A123 Systems, GreatPoint Energy, and Luminus Devices. (Kayak is the current club president, having raised $223 million.)

My favorite tidbit from the column is that Sequoia, one of the investors behind Kayak, apparently used them at the famous "RIP Good Times" presentation in October as an example of a company that already operates lean and mean. From the column:

The entire start-up world...took notice last month when several partners of Sequoia Capital, the venture firm that funded companies like Google, PayPal, and Electronic Arts, called a meeting to warn its companies about the coming recession. The text on the opening slide? "R.I.P. Good Times." Spending cuts, the firm advised, are a must, and acquirers will gravitate to profitable companies.

Sequoia, as it happens, is an investor in Kayak (A123Systems, too). According to [Kayak co-founder Paul] English, people who were at Sequoia's cautionary meeting say that partner Michael Moritz mentioned Kayak several times.

"They were talking about us as a company with a lean profile," he says. "In their portfolio, we are the skinniest as far as costs." That frugal posture will be an asset if even gloomier times are ahead.

The video features English talking about his approach to hiring and firing engineers.

The A123 Systems IPO: Signed, Sealed ... But Not Yet Delivered

Two unnamed sources with close ties to A123 Systems, the Watertown maker of next-gen lithium ion batteries for Black and Decker cordless tools and plug-in hybrid cars, tell me that the company's IPO filing is essentially complete. Once the first quarter numbers are finalized, an S-1 is likely to arrive in the SEC's inbox sometime in the next month or so. The offering could value the company at more than $1 billion. Road show is planned for September; Goldman, JP Morgan, and Merrill are underwriting, I'm told.

A123 Systems has raised more than $150 million since it was founded in 2001. Among the biggest winners from a successful IPO would be North Bridge Venture Partners and Sycamore Networks chairman Desh Deshpande. (North Bridge has a cool video case study on A123.) Sequoia Capital and General Electric are also investors.

Will Wall Street have an appetite for a battery IPO in September? We'll see...

A123 Systems' PR rep, Keith Watson, says, "The company can't comment on anything related to an IPO."

(In the photo is George W. Bush with A123 CEO David Vieau, standing next to a plug-in hybrid Prius that A123's Hymotion division converted. White House photo by Paul Morse.)