This is going to be BIG.
MAY 5, 2023
Last August, I passed the point at which I had spent literally half my entire life working in this asset class, having started at the General Motors pension fund doing institutional investments in venture funds and late-stage directs back in February of 2001.
Hunter Walker
AUGUST 22, 2021
So the risk/reward profile of the earlier investment is in a fund aimed at those bets, and the theoretically less risky, but also lower returning (on a multiple basis) later stage investment is in its appropriate vehicle. But it’s important!
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Ben's Blog
MAY 24, 2021
There are a number of trends concerning IPOs and capital formation to note: First, the raw number of IPOs has declined significantly: From 1980-2000, the US averaged roughly 300 IPOs per year; from 2001-2016, the average fell to 108 per year. 44% 2001-2019 13.7% First, as the below chart shows, IPO pops are not a new phenomenon.
Both Sides of the Table
JULY 22, 2010
Due to competitive markets we ended up with a pretty good term sheet until we needed to raise money in April 2001 and then we got completely screwed. 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. Those were the dog days of entrepreneurship.
David Teten
FEBRUARY 3, 2014
Leading Late-Stage Technology Investors’ Portfolio by Geography, 2001-1Q2010. Battery & Sequoia data only include late stage/growth equity deals. Summit Partners and TA Associates have leveraged their origination programs to move into later stage buyouts. Notes: Only for IT & related sectors.
Austin Startup
JUNE 27, 2017
Valuations in startups increased dramatically during the Dot Com boom and then both valuations and the availability of investment capital nationally collapsed in 2001 with the Dot Com bust and 9/11. Entrepreneurs with early stage companies typically look for local funding before going out of region to pursue other funding sources.
Feld Thoughts
JUNE 20, 2014
Others had separate early stage funds and late stage funds, often with separate teams and economics (e.g. USV has done a magnificent job of investing in later stage rounds of their existing portfolio companies as well as later stage rounds of companies that fit tightly within their investment thesis.
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