View from Seed

SEPTEMBER 14, 2021

One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Was this a lost decade for venture capital? But what do we see from some of the more recent (but mature) vintages? Or are current values inflated and unlikely to converge with DPI? Source: Cambridge Associates.

Valuation 319

Valuation Pre-Money Valuation Distribution Early Stage 319

View from Seed

SEPTEMBER 14, 2021

One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Was this a lost decade for venture capital? But what do we see from some of the more recent (but mature) vintages? Or are current values inflated and unlikely to converge with DPI? Source: Cambridge Associates.

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295

View from Seed

SEPTEMBER 14, 2021

One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Was this a lost decade for venture capital? But what do we see from some of the more recent (but mature) vintages? Or are current values inflated and unlikely to converge with DPI? Source: Cambridge Associates.

Valuation 156

Valuation Pre-Money Valuation Distribution Early Stage 156