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. Our space, The Kennel, has been home to many of the K9 portfolio companies.

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. Today I called it, “our own little VC led, portfolio-by-portfolio company version of RIP Good Times from 7 years ago.” Here’s my take away. When you accelerate too quickly often a pull back is inevitable as you recalibrate.

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. So, too, investments.

Stock 150

Stock Finance Marketing Valuation 150

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

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

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

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

Altgate

MARCH 8, 2009

Their portfolio firms will be able to cut back on headcount and other spending and additional capital from investors will allow the companies to survive for the 2-5 years it will take the market to begin to recover. Later stage funds will end up owning more of their portfolio companies via down rounds and ultimately should see ok returns.

Later Stage 34

Later Stage Early Stage Venture Capital Portfolio 34

Both Sides of the Table

JANUARY 16, 2012

But the short answer is that the best intro is from a portfolio company of that VC or by other entrepreneurs whom that VC respects. You need to build genuine relationships with these portfolio startup founders as well as trust with them and the rest will follow. Our 2008 fund looks spectacular.

Developer 366

Developer Silicon Valley PR Las Vegas 366

Agile VC

NOVEMBER 13, 2012

At Risk – Usually starts with a firm beginning to see challenges in large portions of its portfolio, or in keeping the partnership together, or in the viability of the firm’s core strategy as broader markets start to shift (e.g. Well first it’s worth understanding the distinct phases of exactly how a VC firm dies.

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