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Love and Venture Capital

Feld Thoughts

eThread was acquired by Melita International in 1999  after a crazy ride that included a midnight negotiating session on the 173rd floor of some building in midtown Manhattan to try to merge with iChat. Welcome to 1999. The post Love and Venture Capital appeared first on Feld Thoughts.

A Venture Capital History Perspective From Jack Tankersley

Feld Thoughts

In January, Jerry Neumann wrote a long and detailed analysis of his view of the VC industry in the 1980’s titled Heat Death:  Venture Capital in the 1980’s. So contrary to the piece, it wasn’t VC were good at early stage technology, it was that they had newfound capital and a big exit window. Total. 1,250,000.     Total.

It’s Morning in Venture Capital

Both Sides of the Table

Many observers of the venture capital industry have questioned whether its best days are behind it.  Thank you, Aaron Sorkin!

Are Things Moving Faster Than In 1999?

Feld Thoughts

After I sold my first company, I started a company called Intensity Ventures to make all my personal investments from. When I started making venture capital investments in 1997, the pace of things, and the amount of work I did, was massive. In 1999 things were moving so theoretically quickly that everything was a total blur.

The Great Internet Stock Correction of 1997, or 1999, or …

Feld Thoughts

We were in the middle of fundraising for Softbank Venture Capital (which became Mobius Venture Capital.) It was the first VC fund I’d helped raise. In 1999 we filed an S-1 to take Sage Networks public. I was a co-founder and co-chairman. The Truth Is Nobody Knows.  It’s great. No phones, no email.

Stock 77

Why Venture Capital No Longer Defines Innovation

ReadWriteStart

Today’s venture capital deal flow to innovative new companies looks a lot like a fat man trying to squeeze into a slim Italian suit.

What if it’s 1996, not 1999?

Seeing Both Sides

billion market capitalization.  We had recorded $1.8 million in revenue the year before. . But what if it’s actually more akin to 1996?

IRR 31

Bubble watch: a comparison of 1999 and 2013

The Equity Kicker

The data points below show that in terms of the IPO market at least the heat is nothing like what it was in 1999. Median sales of company at time of IPO — $12m in 1999 vs. $106m in 2013. Median price/sales ratio at time of IPO — 26.5x in 1999 vs. 5.5x in 2013. Total # of tech IPOs — 369 in 1999 vs 45 in 2013.

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Why Venture Capital No Longer Defines Innovation

ReadWriteStart

Today’s venture capital deal flow to innovative new companies looks a lot like a fat man trying to squeeze into a slim Italian suit.

More Advice from Class of 1999 MBA Entrepreneurs

Launching Tech Ventures

In 1999, Joel Silve r launched SalesDriver.com, which provided incentive programs for sales reps. The first is sales. It is exhausting. Take it.

Lean 18

Founders – Use Your Down Round To Clean Up Your Cap Table

Feld Thoughts

started investing in 1994 and while there was some bumpiness in 1997 and again in 1999, the real pain happened between 2000 and 2005. First, make sure you know where the capital is going to come from to fully fund your business. Second, keep your capital structure simple. Venture Capital cap table down round Financing VC

History Doesn’t Repeat Itself, But It Does Rhyme

Feld Thoughts

The questions were great, but some of what they were hearing about venture capital was scary as s**t. handful of them had jobs in venture capital firms and we talked about how to be effective as a freshly minted associated. Venture Investing Just Had Its Biggest Q1 in 15 Years, Says PwC Report. It’s New York.

I’m joining ff Venture Capital

David Teten

I am delighted to announce that I’m joining ff Venture Capital as a Partner. Career Venture Capital

When VCs Don’t B t You

Feld Thoughts

This LP is also a long time investor in Union Square Ventures and was one of the first people Fred introduced us to when we started raising the first Foundry Group fund in 2007. The prior fund that I had co-founded – Mobius Venture Capital – had blown up after having a very successful first fund in 1997.

LP 109

The State of Cleantech Venture Capital, Part 1: The Money

Secret Formula

During each, cleantech start-up investment had a different driver: 1995 to 1999: Baseline. (A version of this post also appeared at GigaOM.).

On the Road to Recap:

abovethecrowd.com

In February of last year, Fortune magazine writers Erin Griffith and Dan Primack declared 2015 “ The Age of the Unicorns ” noting — “Fortune counts more than 80 startups that have been valued at $1 billion or more by venture capitalists.” By January of 2016, that number had ballooned to 229. Competition also has access to capital.

Stock Market Bubble? Venture Capital Numbers Tell Another Story

Fresh Inc.: The Staff Blog

Venture capital investment helped drive the last stock market bubble. Broadly, the stock market is influenced by monetary policy," John Backus, founder and managing partner at venture capital firm New Atlantic Ventures, says. But venture capital investment tells another story entirely.

Andreessen Horowitz: No bubble but rebalancing from IPO to late stage venture

The Equity Kicker

Firstly this table comparing 1999 and 2014 on key bubble-related metrics. Venture Capitalthink that’s largely true.

On Bubbles …

abovethecrowd.com

And the venture capital firms that pulled back in 1996 missed the best three years of return in the history of venture capital industry.

No Regrets (Mostly): Reflections from Class of 1999 MBA Entrepreneurs

Launching Tech Ventures

One is searching for a role in a new venture after a hiatus to start a family. Venture Hacks VentureBeat Watching Websites Simple template.

Lean 12

China’s Torch Program – the glow that can light the world (Part 2 of 5)

Steve Blank

Torch has four major parts:  Innovation Clusters , Technology Business Incubators (TBIs), Seed Funding (Innofund) and Venture Guiding Fund.

China 89

Partners Forever (or close to it)

A VC : Venture Capital and Technology

Mitt Romney is taking some flack for continuing to have ongoing involvement in Bain Capital well after he supposedly left the firm for good in 1999. I am not supporting Romney for President as I can't get comfortable with his party's views on social issues that matter a lot to me. Politics Venture Capital and Technology

Lean

A VC : Venture Capital and Technology

Later on in our conversation on wednesday night, I got a question about lean and venture capital. Brad and I set it up that way because we talked about all the things we didn't like about venture capital firms when we were setting USV up in late 2003. Venture Capital and Technology Web/TechThat's it.

Lean 61

Want to Know How VC’s Calculate Valuation Differently from Founders?

Both Sides of the Table

Back in 1999 when I first raised venture capital I had zero knowledge of what a fair term sheet looked like or how to value my company.

How to Develop Your Fund Raising Strategy

Both Sides of the Table

There is all sorts of advice on the Internet about how to raise capital. So why would raising venture capital be any different.

How Do VCs Mitigate Risk In Their Investment Portfolios?

Ask The VC

Most VCs who have been investing since the mid-1990′s understand this well as many funds raised in 1999 and 2000 were fully committed in one year. As a result, the funds were invested during the rapid rise and peak of the Internet bubble, resulting in horrible performance for 1999 vintage funds due to their lack of time diversity.

Worthless Stock Certificates

A VC : Venture Capital and Technology

They are a reminder that we make mistakes in the venture business. Venture Capital and Technology

Stock 57

Tonight We're Going To Party Like It's 1999

Launching Tech Ventures

The firms had an aggregate market value of $99 billion at the end of 2001, and they had raised $85 billion of capital. and WebMD. Valuations.

Lean 14

New Book by Professor Mannie Manhong Liu and Pascal Levensohn– Venture Capital: Theory and Practice, published by the University of International Business and Economics Press, Beijing

Pascal's View

I never expected to have my first book published in China, much less in Mandarin, but that goes to show how much the world continues to change.  My contributions to this undergraduate textbook, Venture Capital: Theory & Practice , are the result of two important collaborations.  Venture Capital is a popular buzzword in China.

Venture Capital 2.1 = Venture Capital 1.0 Redux, with a Twitter Account

Fred Destin

As with all mega-trends, you overestimate the impact in the short-term (1999, year of the eyeballs) and underestimate the impact in the long-term.

Stitch Fix: Reinventing Retail Through Personalization

abovethecrowd.com

In addition to market concerns, I had the unique experience of working with Dan Nordstrom and the team at Nordstrom.com in August of 1999.

FuturePerfect Ventures: A 2015 Recap

thebarefootvc

New York City : NYC is growing as a startup hub; yet early stage (seed, small A rounds) institutional capital has not kept up with the local growth. This global reach is a new model of early stage venture, one that we believe we will see more of in the future. “Be the change you want to see in the world”.  . Below is a recap.

The Word Bubble

A VC : Venture Capital and Technology

For me Bubble will always be inexorably linked to what went down in 1999 and 2000 in the internet sector. But deals are actually companies and most venture investments are held for five to seven years. I've likened them to marriages over the years. Venture Capital and TechnologyIt is intentional. Because it will rain.

Governance Models That Don’t Scale: The World According to Charles T. Munger and Jean Jacques Rousseau

Pascal's View

The disgraced former directors of Tyco International (vintage 1999) , seemingly highly trustworthy and accomplished men and women, also come to mind.

How Many Investors are Too Many?

Both Sides of the Table

There are ones I’ve worked with like True Ventures, First Round Capital, Greycroft, Rincon Ventures … just to name a few.

Tonight We're Going to Party Like It's 1999

Platforms and Networks

The firms had an aggregate market value of $99 billion at the end of 2001, and they had raised $85 billion of capital. and WebMD. Valuations.

Connecting the Dots: How New Job Creation, IPO’s, and Venture Capital in America Are Intimately Linked

Pascal's View

Consistent with this success, venture capital has fueled many of the most successful start-ups of the last thirty years. Census Bureau.

Where are the Deals? How VCs Identify the Next Generation of Startups

David Teten

You’ve probably read dozens of articles about how to  raise capital  from venture capitalists. Prior to joining  ff Venture Capital , I published the first-ever study of how private equity and venture capital funds originate new investments, with my coauthor  Chris Farmer , CEO of  SignalFire  and an experienced VC.

10+ Trends: Recap of 2011 and What’s Next…

thebarefootvc

As a venture capitalist, I am privy to innovations long before they become mainstream, one of the things I love about my job. This will continue as more role models, mentors and capital are created from the resulting success stories, thereby creating more support for the next generation of entrepreneurs. What We Saw in 2011….

Complete Flip Flop

Force of Good: a blog by Lance Weatherby

They spent a lot of time talking about how the current time is much different than 1999. Current Affairs Startups Venture Capital