Austin Startup

AUGUST 10, 2017

Take a look at some of the emails between us from 2010: We were attending NYU from 2008–2012. They helped us establish 2 GP entities, 2 LP entities, and 1 Cayman entity (for international investors) in ~2 months. Our Story The two of us met at NYU almost 10 years ago. We were infatuated with tech.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

Feld Thoughts

OCTOBER 24, 2017

We are proud to be an LP in Manu Kumar’s third fund. From: Manu Kumar <manu@k9ventures.com> Date: Mon, Sep 15, 2008 at 10:58 PM. My partner Lindel just put a post up on the Foundry Group website about our investment in K9 Ventures. I’ve been friends with Manu since 2009 and an investor (personally) in his first two funds.

LP 91

LP Engineer Conversion Partner 91

Both Sides of the Table

MAY 25, 2013

But as an LP you can’t count on that any more than VCs can. The goal of an LP is to get into the top decile. When it went to raise its fund 10 years ago the rumor was that many LPs were disappointed with recent returns and did not re-up. In 2000 our industry had more than $100 billion in LP money. hours / day.

LP 374

LP Later Stage IRR Term Sheet 374

Feld Thoughts

JULY 28, 2014

On paper, only one is in positive return territory as a fund, but the SBIC leverage is a substantial negative factor for the LP investors in that particular fund. As a partner in one of the most visible VC firms in Colorado and an LP in many of the Colorado VC firms, I’ve never heard from Matthew or anyone from the SBIC.

SBIC 142

SBIC Venture Capital Colorado SBA 142

K9 Ventures

AUGUST 14, 2017

It was a conscious decision to maintain the fund size at the same level, despite both market pressure (larger rounds at earlier stages) and demand pressure (lots of LP money entering the stage) to raise a larger fund. I first thought about starting K9 in 2008. K9’s last fund, K9 Ventures II, L.P., was a $40M fund.

Technology 96

Technology LP San Francisco Portfolio 96

Both Sides of the Table

OCTOBER 14, 2015

I spoke at Michael Kim’s excellent annual Cendana VC/LP conference today. We have an entire generation of startup founders who don’t have muscle memory from getting their burn rates back into shape from 2008/09 or 2001-2005. Here’s my take away. Some companies have to go first. Others will follow. It’s not fun.

Burn Rate 150

Burn Rate San Francisco Private Equity LP 150

Both Sides of the Table

AUGUST 24, 2015

I’ve seen friends (and family members) lose much of their savings that way over the years because “Black Swans” happen and in 1987, 2001, 2003 & 2008 (just to name a few from my memory) huge market gyrations caused much financial distress to people seeking short-term gains. Watch the market closely.

Stock 150

Stock Finance Marketing Valuation 150

David Teten

MARCH 2, 2013

He surmises that LPs aren’t buying the argument that large funds don’t perform. Beyond the fact that LP capital commitments don’t prove anything about returns, however, large funds are likely much more resilient to a few bad years than small funds are. But why would any LP ever drop out of such a fund?

LP 114

LP Securities and Exchange Commission Silicon Valley Venture Capital 114

The Equity Kicker

JANUARY 11, 2013

I was chatting with a friend last night about the lack of institutional investor (LP) interest in European venture capital as an asset class. There have been many difficult periods for the industry in my 13 year career as a VC, most notably after the internet and banking busts of 2000 and 2008, and I expect there will be more in the future.

LP 143

LP Europe Institutional Investors Venture Capital 143

Both Sides of the Table

MAY 23, 2012

Thomson Reuters data shows that around $10 billion of LP money went into VCs per year pre bubble. By 2000 the total LP commitments had mushroomed to more than $100 billion. LP contributions to VC firms shrunk from 2000 and by 2005-2008 had stabilized to around $30 billion per year. The Funding Problem.

Venture Capital 347

Venture Capital Technical Review LP Mobile 347

Haystack

APRIL 27, 2018

At a minimum, getting to the Series A derisks (perhaps temporarily) a seed investment in a world where the shapes of investment outcomes can take a decade or more (consider, Uber is now a decade old and DocuSign, which just went public, was started in 2008).

Naming 60

Naming Venture Capital Seed Stage Cap Table 60

K9 Ventures

JANUARY 19, 2009

billion in the last three months of 2008, according to new data from Thomson Reuters and the National Venture Capital Association. billion raised in Q3 of 2008. Depending on how 2009 shapes up, chances are that the 2009 numbers will perform better than the 70% decline for Q4 2008. Unsurprisingly, this is a big drop (about 70.9

LP 48

LP Venture Capital Portfolio 48

thebarefootvc

MARCH 8, 2012

I remember writing a blog post in 2008, post-financial crash, on how the recession was going to re-vitalize the city’s tech startup community, which would eventually help diversify the NYC economy. I helped launch NYCSeed in 2008 in response to the lack of seed funding available in NYC.

Silicon Valley 69

Silicon Valley Ghana Venture Capital India 69

Professor VC

NOVEMBER 19, 2009

I attended the annual LP meeting for a venture capital firm this week and got into a discussion about the above question. ► 2008. (14). ProfessorVC. The last blogger in Silicon Valley. Thursday, November 19, 2009. Can Entrepreneurship Be Taught? ► May. (1). Can you start a company on $10K? ► March. (1).

San Jose 43

San Jose Silicon Valley Las Vegas Venture Capital 43

Altgate

MARCH 8, 2009

As everyone knows, what is being reported as dry powder isn’t real as many of those LP commitments would not survive a capital call (and thus capital calls aren’t being made). That figure includes $1 trillion of un-invested funds (a.k.a. “dry powder&# ) and $1.5 trillion of unrealized returns. Also, the $1.5

Later Stage 34

Later Stage Early Stage Venture Capital Portfolio 34

Agile VC

NOVEMBER 13, 2012

There was a healthy amount of capital ($20-30B annually) invested in VC funds during the 2003-2008 timeframe. The entire US economy was booming (in an unsustainable debt binge, in retrospect) from 2004 through much of 2008, and the tech world was booming along with it. In the mid 2000′s VC’s were largely prospering.

LP 154

LP Portfolio Venture Capital IRR 154

Agile VC

JULY 24, 2013

I was having breakfast this morning from someone I know from the LP world. We were talking about what’s “working” in the broader VC ecosystem and this person expressed their enthusiasm that today there are a range of different models that are producing attractive returns for LPs.

Valuation 200

Valuation Early Stage Distribution LP 200

Both Sides of the Table

JANUARY 16, 2012

Our 2008 fund looks spectacular. I once had an LP tell me that when Sequoia fund raises they place the first call and say “we’re closing in 6 weeks – you need to decide quickly if you want an allocation.” We’re the largest fund in Southern California. Our 2000 fund is the single best fund of its vintage.

Developer 366

Developer Silicon Valley PR Las Vegas 366

Professor VC

SEPTEMBER 24, 2009

I was a limited partner in Angel Investors, LP, Ron Conways fund in the late 1990s. ► 2008. (14). Lets get back to the topic of gut investing. They clearly went on gut and were often accused of drive-by investing, but that has to be the only way to invest in 200 companies over a 3-year period. ► May. (1). ► March. (1).

San Jose 33

San Jose Angel Investor Venture Capital Mezzanine 33

VC Cafe

JULY 6, 2010

The company was founded in 2008 and is based in Herzlia Pituach, Israel. Ziegler Meditech Equity Partners, LP Buyer Funds: 7.97. Ziegler Meditech Equity Partners, LP Buyer Funds: 3. Carmel Ventures; Maayan Technology Ventures Ltd. TASE:MAYN); Vertex Venture Capital 7.2. 26/05/2010 07/06/2010 Aposense Ltd. Pontifax Ltd.;

Private Equity 98

Private Equity Venture Capital Equity 98

VC Cafe

JULY 6, 2010

The company was founded in 2008 and is based in Herzlia Pituach, Israel. Ziegler Meditech Equity Partners, LP Buyer Funds: 7.97. Ziegler Meditech Equity Partners, LP Buyer Funds: 3. Carmel Ventures; Maayan Technology Ventures Ltd. TASE:MAYN); Vertex Venture Capital 7.2. 26/05/2010 07/06/2010 Aposense Ltd. Pontifax Ltd.;

Private Equity 98

Private Equity Venture Capital Equity 98

Both Sides of the Table

NOVEMBER 6, 2016

I asked him what motivated him and he told me, “I started it in 2008 as a project with my daughter helping canvass for Obama. When I went to add partners at Upfront I called an LP of mine and told him I was trying to recruit a new partner named Kara Nortman. I shot back quickly at my LP “ You’re kidding me, right?

Los Angeles 150

Los Angeles LP Nevada South Korea 150