|1.||Briovation drops Festival V, will instead draw on Health:Further|
as it pursues innovation advisory roles + investor entrée
Co-founders Gatto & Whitney keep tacking in healthcare's crosswinds, complete 6th capraise of $21MM, its largest to date.
By Milt Capps 0822 hrs. / Published Tuesday, January 22, 2019 8:00 am
|2.||State, Federal partnership spawns 24 grants for Tennessee tech companies|
LaunchTN matches have now supported 24 fledgling firms, mainly in energy, materials and health/biomedical.
By Milt Capps / Published Tuesday, January 15, 2019 4:45 pm
|3.||Milken Institute says Tennessee advances, yet struggles with tech commercialization and venture funding|
Biannual Science & Technology Index shows some TN gains, but weakspots among growth factors
By Milt Capps / Published Tuesday, December 18, 2018 11:42 am
|4.||Relevance Capital pursues Fund IV raise + regional tech-VC leadership|
Exits may be ahead for Brentwood-Tullahoma firm seeking stakes in early-stage coastal targets, but at Nashville valuations.
By Milt Capps / Published Thursday, October 25, 2018 3:18 pm
|5.||We asked TN Gubernatorial aspirants about State industry incentives, risk-capital formation, tech commercialization and more|
Many of these issues gained salience during the Haslam and Bredesen years.
By Milt Capps / Published Monday, August 13, 2018 10:29 am
|6.||LaunchTN CEO search draws 900 resumes, dozens of qualified candidates|
Rolfe and Brock doubtless plan a smooth transition to maintain momentum, but there are vagaries to ponder.
By Milt Capps / Published Tuesday, July 17, 2018 4:45 pm
|7.||Mountain Group affiliate targets raising $125MM in venture capital funds|
[updated] New fund may continue trend of Life Sciences and Technology investments.
By Milt Capps updated 2:37pm / Published Friday, July 13, 2018 8:12 am
|8.||PlayMakerCRM's backer Mainsail Partners ranks|
Nashville best for bootstrapping healthcare
Growth-equity firm says Music City, Austin, Atlanta and others each has a superniche.
By Milt Capps / Published Monday, April 16, 2018 2:15 pm
|9.||Headsup: LaunchTN may have to beard budget lion|
to fund Tennessee entrepreneurial leadership
CEO Charlie Brock unveils robust plan for LTN advancement, but may be facing budget headwinds.
By Milt Capps / Published Thursday, January 25, 2018 5:00 pm
|10.||Beacon Center poll says State incentive wasteful, while Entertainment, Blockchain, other industries mobilize for Capitol Hill action|
'Free-market' combatant of industry incentives may face new players pursuing legislated benefits.
Milt Capps / Published Tuesday, December 12, 2017 3:00 pm
|11.||Venture Notes - 6 December 2017|
27 short takes on Venture developments statewide, from robots and healthcare, to hair dye and video security.
By Milt Capps / Published Wednesday, December 6, 2017 4:00 pm
|12.||CEO: XMi Acquisition has $15MM dry powder, more M&A moves likely|
With access to funds that have total $50MM AUM, XMi believes it can complete 1-2 deals per year.
Milt Capps / Published Wednesday, October 25, 2017 4:55 pm
|13.||Venture Notes - 27 July 2017|
'Erosion' in TN investment? Major IT and software cos' raises, TN fund recruiting, startup updates and more.
Milt Capps / Published Thursday, July 27, 2017 11:30 am
|14.||Venture Notes - 18 May 2017|
10: VCs' visions, VU exec on healthtech morass, capital raises, startups, sage words from KaiserPerm CEO.
Milt Capps updated / Published Thursday, May 18, 2017 3:15 pm
|15.||VC Innova Memphis ignites $31MM RBIC fund,|
projects 20 transactions by year-end 2018
Robotics, analytics, decision-support tech -- it's not your Grandma's Ag anymore.
Milt Capps / Published Monday, May 15, 2017 11:11 am
|16.||Nashville's Saltvest Alto-IRA fintech startup enters LittleRock accelerator|
Satz, Tanner quietly target the needs of the 'mass affluent'.
Milt Capps updated 12 May 0625 / Published Thursday, May 11, 2017 11:45 am
|17.||Jim Phillips CEO of relaunched XMI backed by Engelbrecht's SCI of Evansville|
[updated] Former XMi executive holds minority stake, in wake of entrepreneur Shmerling's peel-off.
Milt Capps updated 4:55pm 2 May 2017 / Published Tuesday, May 2, 2017 9:56 am
|18.||As General Assembly grinds along, some notes on TNInvestco and more|
Resources that might provide refreshment for those looking to advance Tennessee innovation.
Milt Capps / Published Monday, April 17, 2017 4:15 pm
|19.||Accelerate Health? With EC & Jumpstart Foundry out of the game,|
some mull the need for a Healthcare accelerator in Nashville
[Updated] The best thinking at EC & JSF led to killing their cohort accelerators. Should we care?
Milt Capps / Published Monday, March 6, 2017 3:15 pm
|20.||Venture Notes - 28 November 2016|
A fresh dozen items from around the state of interest to the venture sector.
Milt Capps / Published Monday, November 28, 2016 8:30 am
|21.||TN Comptroller: TNInvestco program 'doesn't appear successful'|
Based on criteria set in place at the outset, the capital-formation experiment now formally has a cloud over it.
Submitted / Published Thursday, November 10, 2016 1:00 pm
|22.||Reporter's Notebook: Nashville Capital Network could play a broader role|
[updated] NCN is most concerned about the Series A hurdle for startups in the Nashville area.
Milt Capps updated 10 July 2017 / Published Thursday, October 27, 2016 5:15 pm
|23.||Venture Notes - 23 September 2016|
More than a dozen nuggets from around the state.
Milt Capps / Published Friday, September 23, 2016 5:15 pm
|24.||TriStar Health Partners eyes $100MM fund for healthIT, medtech and more|
TriStar and Innovation Institute leaders 'get along well as human beings'
Milt Capps / Published Monday, September 12, 2016 3:07 pm
|25.||Venture Notes - 12 September 2016|
[Updated] 11 items from around the state of interest to techies, investors, entrepreneurs, et al.
Milt Capps updated November 2017 / Published Monday, September 12, 2016 3:00 pm
|26.||Idea: Curt Hahn presses case for Nashville Film & TV Investment Fund|
That old chestnut, Film-TV industry production incentives, gets a fresh take.
Milt Capps / Published Monday, July 11, 2016 4:45 pm
|27.||Venture Notes, 17 June 2016|
[updated] Nashville entrepreneurship 2.0? Capraises, possible startup trouble, Krajicek venture tips and more.
Milt Capps updated 18 June 2016 1110 / Published Friday, June 17, 2016 4:32 pm
|28.||Overdog sale was assets deal; buyer Odd Networks mulls capraise|
New York-based principals shed a bit more light on the deal and its origins.
Milt Capps / Published Monday, May 16, 2016 10:30 am
|29.||OverDog sale rumor afloat, some announcement said imminent|
[Sale confirmed] New money, strategic inflection, or much hubbub about nothing? Time will tell.
Milt Capps 3:38pm 9 May 2016 / Published Friday, April 29, 2016 3:00 pm
|30.||Their Take on Capital: Grant Jackson, Council Capital managing partner|
Managing General Partners gives fresh view of region's Healthcare sector.
Milt Capps / Published Wednesday, April 27, 2016 3:00 pm
|31.||Venture Notes - 12 April 2016|
This roundup features Amplion, HCCA, CouncilCapital, John Murdock, Joe Kustelski, Proton and more.
Milt Capps / Published Tuesday, April 12, 2016 4:15 pm
|32.||Venture Notes - March 17, 2016|
Updates on VU venture staff, raises by SmartFurniture and RelevanceCapital and more.
Milt Capps / Published Thursday, March 17, 2016 4:15 pm
|33.||LaunchTN details INCITE investment tallies, investors, portfolio companies|
As INCITE comes to halt, we take at look at the ground that's been covered.
Milt Capps / Published Wednesday, February 17, 2016 3:00 pm
|34.||Life ScienceTN seeks General Assembly support for readying commercialization program, opts to defer $40MM ask|
[updated] Treading carefully to 'get program right', industry aims for step-by-step progress.
By Milt Capps updated with ECD comments 4pm 17 February 2016 / Published Tuesday, February 16, 2016 4:30 pm
|35.||Jumpstart Foundry creates Healthcare fund, knocks accelerator model|
Vic Gatto and Marcus Whitney are creating an important fund, and exit accelerator universe.
Milt Capps last edited 0815 23 Jan. 2016 / Published Friday, January 22, 2016 3:00 pm
|36.||Haslam Admin asks GenAssembly for Angel Tax Credit to mobilize early-stage investors and energize Tennessee 'Angel ecosystem'|
[updated] ECD Commissioner Randy Boyd expresses strong support for bill enrolled this week.
Milt Capps updated 14 April 2016 0721 / Published Friday, January 15, 2016 4:15 pm
|37.||Nashville entrepreneur Mike Shmerling offers Seed Capital reality-check|
State-backed programs like TNInvestco 'have a place', but capital complaints seem exaggerated.
Milt Capps / Published Monday, January 11, 2016 5:00 pm
|38.||ECD's Boyd prepping ideas for stimulating TN entrepreneurship, investment|
Within Haslam Cabinet, ECD Commissioner shapes policy-program options for Chief.
Milt Capps / Published Tuesday, January 5, 2016 2:45 pm
|39.||VentureNotes 17 December 2015|
TNInvestco, Bill Frist, Accolade, eClinic, Clayton Associates, Pharos Capital, Infusense, Celgentek and more.
Milt Capps / Published Thursday, December 17, 2015 5:15 pm
|40.||SMTEC accelerator's Marcum retires, LaunchTN Rural plans nears debut|
The state's accelerator-linked ecosystem continues to evolve, it seems.
Milt Capps / Published Tuesday, October 20, 2015 11:45 am
|41.||VentureNotes: McWhorter, Ingram, Bredesen touch on venture investment|
Three leaders' separate comments illuminate a common thread of concern.
Milt Capps last edited 6:25pm / Published Tuesday, September 15, 2015 5:00 pm
|42.||iCitizen gets Sen. Corker visit; iCitizen app nears V2.0 launch|
Rapid, but selective hiring, while software development runs apace toward V2 debut.
Milt Capps updated 14 October 2015 / Published Tuesday, September 15, 2015 4:45 pm
|43.||After Ipreo, Maxwell will shift to raising a Nashville-based FinTech fund|
Serial entrepreneur says he's preparing to 'chase his passion' for venture.
Milt Capps edit 1:15pm / Published Thursday, July 23, 2015 11:45 am
|44.||Update: LaunchTN continues to refine strategy and priorities|
Charlie Brock shares his topmost objectives, and we review a bit of the agenda.
Milt Capps / Published Monday, July 20, 2015 3:00 pm
|45.||Amplion Clinical Comms builds value before considering capital or exit|
[Updated] David Condra and investors bide their time, to catch the wave they see building.
Milt Capps Updated 12 April 2016 12:28p / Published Monday, May 18, 2015 12:45 pm
|46.||NuSirt BioPharma has $6MM commitment from Hatteras, other investors|
[updated] Financing spurs Type 2 diabetes, non-alcoholic fatty liver programs
submitted updated 14 October 2015 / Published Wednesday, May 13, 2015 11:45 am
|47.||XMi Holdings' XMi High Growth & Opportunity Fund sets $20MM fund raise|
XMi unit is sector agnostic, but expects to see plenty of healthcare.
Milt Capps / Published Thursday, April 30, 2015 4:00 pm
|48.||Citizengine eyes capital raise, sees 2016 election cycle as inflection point|
New CEO and founding chairman are apparently planning an aggressive push.
Milt Capps / Published Thursday, April 30, 2015 1:30 pm
|49.||CEO: Edgenet doubles-down on NVille as Tech 'beehive', but has concerns|
Exec sees new digs, job growth, sales - plus cultural + media challenges.
Milt Capps edits 9:39 a.m. / Published Friday, April 3, 2015 8:00 am
|50.||Sometimes its a grind, but LaunchTN CEO|
optimistic about Tech Commercialization
Entrepreneurship, events and attracting capital may have revved-up. Tech transfer? Not so much.
Milt Capps edits 6:42pm / Published Monday, March 16, 2015 3:45 pm
|51.||Life Science TN 'ups its game' on Capitol Hill in pursuit of funding|
[Updated] When it's representatives hit the General Assembly, they'll bring a clear agenda.
Milt Capps legislation updated 0800 10 March 2015 / Published Monday, March 9, 2015 3:42 pm
|52.||LaunchTN: McWhorter board resignation adds to agency's to-do's|
[updated] Litigation, uncertainty over INCITE funding, turnover and more.
Milt Capps Updated 10:02 a.m. 28 January 2015 / Published Tuesday, January 27, 2015 1:15 pm
|53.||LaunchTN: Randy Boyd accepts baton from Hagerty, who returns to PE firm|
Commissioner now also presides over board of Tennessee Technology Development Corp.
Milt Capps / Published Tuesday, January 27, 2015 1:30 pm
|54.||Owners of TNInvestco-backed Hubble Telemedical exit in sale to Welch Ally|
VTC First exit for the fund affiliated with Memphis-based MB Venture Partners.
VTC Larisa Brass / Published Wednesday, January 21, 2015 6:00 am
|55.||Posited: FinTech accelerator idea meets entrepreneurial interest in Nashville|
Serial entrepreneur Joe Maxwell among those enthusiastic about new FinTech focus.
Milt Capps / Published Monday, January 12, 2015 9:30 am
|56.||PE-backed Aegis Sciences acquires startup Diagnovus' assets|
Two Tennessee-born science-centered companies are united
Milt Capps / Published Tuesday, January 6, 2015 9:00 am
|57.||Strategy for gauging 'transformative' TNInvestco value yet to be determined|
[updated] Only rudimentary financial and compliance reporting was explicitly called for by law
Milt Capps updated 8:51 a.m. 30 December 2014 / Published Wednesday, December 10, 2014 9:37 am
|58.||PEOPLE: Anand Sanwal's CB Insights has eyes on Nashville + Tennessee|
A keen observer of America's startup and Venture landscape took a few minutes with VNC.
Milt Capps / Published Monday, December 8, 2014 1:30 pm
|59.||NVille's InCrowd Capital adds Angels + investments, seeks SE partners|
[Updated 15 June 2015] With nearly 40 investors aboard, Shmerling's Angel network gains traction.
Milt Capps updated 6:36 a.m. 15 June 2015 / Published Monday, November 10, 2014 12:00 pm
|60.||Council & Enhanced Tennessee Fund hasn't exhausted TNInvestco capital|
There's a least one TNInvestco that isn't yet exhausted, and is still looking for investible deals
Milt Capps / Published Friday, October 24, 2014 3:15 pm
|61.||TNInvestco 2.0 prospects uncertain, entrepreneurs|
and investors begin charting path forward
Since opinions are hard to monetize, leaders statewide seek new sources of momentum
Milt Capps addendum 8:18 a.m. Oct. 17, 2014 / Published Wednesday, October 15, 2014 2:03 pm
|62.||Nashville pioneer Pathfinder Technologies moving to sell to Analogic|
After a decade widening Nashville's lifesciences entrepreneurship, a strategic move.
Milt Capps edits 10:07 a.m. Oct. 4, 2014 / Published Friday, October 3, 2014 3:00 pm
|63.||Reporter's notebook: TNInvestco 2.0|
Sharing our perspective on the challenges associated with covering the next potential TNInvestco debate.
Milt Capps edited 12:11 p.m. / Published Thursday, September 25, 2014 11:00 am
|64.||VentureNotes: Jumpstart Foundry, TNovation initiative|
[Yes is answer] Might JSF become a single-vertical startup accelerator? TN HiMSS unveils new program identity.
Milt Capps updated 27 Oct. 2014 / Published Friday, September 19, 2014 11:15 am
|65.||M&A ahead: Fetherling's Perception Health|
teams with PYA Analytics, XSolis/Advent
Serial entrepreneur doesn't understand why the Tech sector consolidation is so hesitant.
Milt Capps / Published Friday, September 19, 2014 11:30 am
|66.||Startup: Arcivr finds Nashville Tech talent issue manageable, sets 2.0 launch|
Founder doesn't need a lot of help with staff or funding, but seems to know where to find both.
Milt Capps edit 12:05 p.m. / Published Friday, September 19, 2014 11:15 am
|67.||HealthTech: Stratasan sharpens messages ahead of capital-raise decision|
With products defined, this startup aims to cut through the 'Big Data' hype.
Milt Capps update 9:15 a.m. / Published Thursday, September 11, 2014 8:00 am
|68.||MedCenterDisplay advances Series B raise, sharpens digital-comm role|
[Updated] President Aylward said he believes the market is now coming more in MedCenterDisplay's direction
Milt Capps Updated June 28, 2017 / Published Monday, September 1, 2014 10:10 am
|69.||Dan Hammond's American Hometown Media cooks-up $5MM Series B raise|
[updated] Serial media entrepreneur Dan Hammond knows way 'round venture kitchen.
Milt Capps Updated 20 Oct. 2015 / Published Monday, August 4, 2014 2:30 pm
|70.||CEO says Medalogix's Series A journey|
brings Nashville investment issues into focus
[updated] Dan Hogan earned his stripes in healthcare delivery, aims to win stars in predictive analytics
Milt Capps Updated 11:51a 6 Nov. 2015 / Published Thursday, July 31, 2014 6:30 am
|71.||Entrepreneurs, Investors, Advisors comment|
on Nashville deal dynamics, traditions
Capital vs Culture may be the main event when entrepreneurs, investors go head to head
Staff / Published Thursday, July 31, 2014 6:15 am
|72.||LaunchTN WIP: Exploring state Angel network, policy options and rankings|
Tennessee Technology Development Corporation, TTDC, lays-out its priorities.
Milt Capps / Published Monday, July 21, 2014 1:30 pm
|73.||Some TN entrepreneurs, investors focus anew on policy agenda|
It remains to be seen what Tennessee investors, entrepreneurs act upon, if anything
Milt Capps / Published Monday, July 14, 2014 1:13 pm
|74.||'New Economy' analysis shows Tennessee lagging 39 other states|
Index delivers composite image of state's economic development, innovation status
Milt Capps Updated 12:51pm Oct. 27, 2016 / Published Monday, July 7, 2014 11:28 am
|75.||Tennessee CRS private-equity Venrock play|
weighted toward Technology, Healthcare
The state retirement fund's venture capital allocations seem to be gaining momentum
Milt Capps updated 3:25 p.m. 2 July 2014 / Published Monday, June 30, 2014 1:29 pm
|76.||Angels on Safari: Gatto, Burcham target startups via Selous Venture Society|
Collaboration leverages VC Solidus, Jumpstart, CapitalTN and other allies
Milt Capps updated 7:56 p.m. 26 June / Published Wednesday, June 25, 2014 2:21 pm
|77.||High on Nashville, tech startups 24/7 Sports,|
Comicbook.com mull growth strategies
[updated] CBS Sports Digital buys 24/7 Sports, led by Shannon Terry.
Milt Capps updated 8:05pm Dec. 16, 2015 / Published Monday, June 23, 2014 12:55 pm
|78.||CEO: Angel Capital Group ready to strengthen Nashville ties, U.S. footprint|
Eric Dobson plans to recapitalize, scale-up the Angel network born in Music City
By Milt Capps / Published Wednesday, June 18, 2014 10:49 am
|79.||LifeScience: TNInvestco-funded Diagnovus' growth may lie in hands of East/West coastal investors|
President James Stover says company has good talks with potential strategic partners
Milt Capps updated Jan. 6, 2015 / Published Monday, December 9, 2013 11:39 am
|80.||Shareable Ink names McGraw CEO, succeeding Founder Steve Hau|
[update 15 May 2015] Hal Andrews new CEO. A company drawn here by the healthcare magnet gets a new leader.
By Milt Capps posted June 12, 2013, 6:12 a.m. - updated 31 March 2015 8:41 a.m. / Published Tuesday, June 11, 2013 12:20 pm
|81.||No leg-up? TCRS pension-assets 'Set-aside' for TN firms uncertain|
Chief Investment Officer Michael Brakebill reiterates his open-door policy
By Milt Capps / Published Monday, May 13, 2013 6:44 am
|82.||Consultant PYA doubles-down with U.S. healthcare data startup|
Brentwood sister company is among allies for Oak Ridge-linked startup
By Milt Capps updated 9:01 p.m. / Published Monday, May 6, 2013 9:59 am
|83.||Mentor Capitalist: Gary Peat reboots after Council Capital |
VC opens new chapter amid a climate of lingering dread and anticipation
By Milt Capps Originally published 10:51 a.m. 9 April 2013 / Published Tuesday, April 9, 2013 5:10 pm
|84.||LaunchTN appoints commercialization director from Nashville startup ranks|
TTDC now seems to be fully staffed to further pro-venture programs
By Milt Capps / Published Tuesday, March 5, 2013 9:54 am
|85.||Chattanooga's Charlie Brock rumored likely to become LaunchTN CEO|
The deal may not yet be done, but CEO search may be nearing its end
By Milt Capps updated 2:32 p.m. 13 December / Published Wednesday, December 12, 2012 8:44 am
|86.||Venture Exit: Jim Cumbee united Metova-A4, drawing on M&A experience|
Founder Ross stepping-aside; a trusted advisor helped make strategic merger happen
By Milt Capps Updated 10:35 a.m. 13 December / Published Wednesday, December 12, 2012 6:16 am
|87.||Series A: Holland hopes Populr shows Nashville techies can be 'global players' |
Founder Holland provides update for Bullpen & Solidus-backed venture
By Milt Capps Updated June 12, 2013 11:35 a.m. / Published Monday, December 3, 2012 11:18 am
|88.||Tennessee Comptroller reports flaws in TNInvestco|
The State's Comptroller today issued a report citing elevated risk of fraud and inadequate administration.
Milt Capps updated 14 November 12:51 p.m. / Published Tuesday, November 13, 2012 11:03 am
|89.||This week's LifeScienceTN program lineup is likely to spark venture ideas|
Here's a rundown on this week's venture pitches during LST's annual meeting
By Milt Capps / Published Tuesday, November 13, 2012 9:10 am
|90.||VentureNotes: Tennessee Venture Council moving to starting-blocks?|
Key investment and legislative issues could get a new advocate, after simmering years
By Milt Capps updated 12:30 p.m. / Published Thursday, November 1, 2012 12:14 pm
|91.||INCITE's latest co-investments announced|
A former Jacobson associate, TNInvestco's and others in social media, healthcare and transport secxtors
by VNC Staff / Published Monday, October 8, 2012 11:49 am
|92.||Anthem Healthcare Intelligence capital raise underway with NEST-TN aboard|
[Updated] Agilum, fka Anthem Health Intelligence, updated its $5.5MM capital raise.
By Milt Capps updated 7:53 a.m. 21 Sept. 2012 / Published Thursday, September 20, 2012 6:46 pm
|93.||VentureNotes: Council Capital, Solidus at Work|
Council doubles-down on mail-order institutional pharmacy startup
By Milt Capps updated 31 August 0719 / Published Monday, August 27, 2012 12:54 pm
|94.||TNInvestco funds still had $84 Million dry powder at year-end 2011, ECD says|
ECD's more robust reporting site provides easier access to TNInvestco filings
By Milt Capps updated 10:02 a.m. / Published Tuesday, August 21, 2012 8:11 am
Fred Goad, Eric Satz, Beth Seigenthaler: entrepreneurs older and newer are hard at-work
By Milt Capps updated 9 July 2014 10:52 a.m. / Published Thursday, August 16, 2012 10:36 am
|96.||Council Capital: Rick Apple spreads TNInvestco seeds for Nashville moneytree|
One of 10 TNInvestco's is now being led by a VU/Princeton product
By Milt Capps updated 9:22 a.m. / Published Thursday, August 9, 2012 8:28 am
|97.||NCN-NHCC reports Startup surge and growing venture-capital gap for Nashville|
Sparkling report illustrates startup boom, healthcare appetite
By Milt Capps updated 8:54 a.m. / Published Thursday, August 9, 2012 8:31 am
|98.||LaunchTN seeks traction on many fronts as it seeks to close deal for a CEO|
Re-launch puzzle coming into focus; filling the CEO chair is priority
By Milt Capps corrected 3:24 p.m. / Published Monday, August 6, 2012 11:25 am
|99.||Briefly: TriStar Technology Ventures invests in Cerebrotech|
Another bet in medical devices is m ade by Jacobson-led venture firm
By VNC Staff edits 4:42 p.m. / Published Thursday, June 7, 2012 3:03 pm
|100.||TTDC-as-LaunchTN gets vital runway extension from Haslam Administration|
With fingers crossed and funds in-hand, the tech-centric nonprofit forges ahead
By Milt Capps edits June 9, 2012 8:50 a.m. / Published Thursday, June 7, 2012 2:55 pm