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). Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. Was this a lost decade for venture capital?

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). Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. Was this a lost decade for venture capital?

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295

View from Seed

DECEMBER 10, 2014

He is currently a second year student at Harvard Business School and will be focused on supporting the early-stage startup community in Boston and its schools. This is his first post to The View From Seed. NextView Ventures is excited to welcome Dimitri Dadiomov to the team as an MBA Associate.

Boston 328

Boston Seed Stage San Francisco Startup 328

Startup Company Lawyer

AUGUST 31, 2012

Over the past few years, convertible debt has emerged as a quick and inexpensive method for startup companies to raise money from angel investors and early stage venture funds. Paul Graham sparked some commentary by declaring in a tweet in August 2010 that “Convertible notes have won. The problem. Conclusion.

Convertible Security 73

Convertible Security Equity Security Preferred Stock 73

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). Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. Was this a lost decade for venture capital?

Valuation 156

Valuation Pre-Money Valuation Distribution Early Stage 156

Mucker Lab

JANUARY 1, 2014

Google finally fixes the problem with mobile (discovery, search, distribution, tracking, monetization, a/b testing) and races ahead while Apple waxes nostalgically for 2010. Huge funding gap appears for seed stage companies as seed stage VC firms look for series A traction and accelerators look for seed stage traction.

Seed Stage 84

Seed Stage Early Stage Distribution Bootstrapping 84

Steve Blank

JUNE 15, 2011

Today, the signs of the new bubble are the Linked-In initial public offering (IPO), Facebook’s stratospheric valuation and the rapid rise of early-stage startup valuation. In December 2010, Youku—the YouTube of China —went public, with a valuation of $4.4 million in 2010 sales). million in 2010 sales).

Silicon Valley 327

Silicon Valley Stealth Valuation Mississippi 327

K9 Ventures

APRIL 9, 2014

The party rounds , which were the range in late 2010 and early 2011, became less common and we started to see the smaller funds begin to lead rounds. Instead, it was more of a result of over-funding at the seed stage. Taken together, it means an early stage company needs to survive longer, with higher expenses.

Mezzanine 134

Mezzanine Seed Stage Early Stage IPO 134

Professor VC

SEPTEMBER 26, 2011

How would Billy Beane have done as an early stage investor? Below is a short description of their philosophy: "The part of our philosophy that makes us most different from other startup investors is that we dont believe gut feel is a reliable indicator of potential at the seed stage. ► 2010. (7). ProfessorVC.

Technical Review 38

Technical Review Early Stage San Jose Angel Investor 38

Mucker Lab

JANUARY 1, 2014

Google finally fixes the problem with mobile (discovery, search, distribution, tracking, monetization, a/b testing) and races ahead while Apple waxes nostalgically for 2010. Huge funding gap appears for seed stage companies as seed stage VC firms look for series A traction and accelerators look for seed stage traction.

Seed Stage 60

Seed Stage Early Stage Distribution Bootstrapping 60

Startup Company Lawyer

MARCH 14, 2010

In addition, I think that a “peace treaty&# between early-stage investors and startup companies on standard terms (at least at a term sheet level) is a step in the right direction. I suspect that this seems reasonable if there is basically no due diligence due to the early stage of the companies. (By Legal fees.

Finance 70

Finance Software Review Term Sheet Liquidation Preference 70

Professor VC

JANUARY 27, 2011

I strongly believe (at least for very early stage technology ventures) that you will get diminishing returns and arguably negative returns once you get past an initial threshold of team, product, market and financial diligence. ► 2010. (7). I immediately jumped up and called "b t". Not exactly extensive diligence.

Technical Review 31

Technical Review Due Diligence Silicon Valley San Jose 31

ReadWriteStart

APRIL 7, 2011

But recognizing that the funding landscape has changed - more angels, more Web startups - this year the firm conducted its first Angel/Seed Financing Survey. The survey includes responses from 52 Internet, digital media, and software companies that raised money in the Silicon Valley and Seattle in 2010.

Preferred Stock 115

Preferred Stock Silicon Valley Seed Stage Venture Capital 115

K9 Ventures

MAY 14, 2011

In my view the terminology being used for early stage investors by the press and the media is not as clear as it should be. I’ve talked about this on several occasions when I’ve been at conference and on panels, but I figured it would make sense to do a post explaining my taxonomy of the early-stage investing world.

Preferred Stock 125

Preferred Stock Seed Stage Incubator Early Stage 125

Growthink Blog

OCTOBER 17, 2011

over the same period in 2010. He has gone on to invest in dozens more startups and early - stage companies, and puts most of his “work” time into various charitable and philanthropic efforts. That investing in early-stage companies is extremely risky. billion, an increase of 4.7%

Early Stage 104

Early Stage Seed Stage United States Angel Investor 104

Steve Blank

AUGUST 27, 2009

We’ll look at the model stage-by-stage. Concept and Seed Stage In the Concept and Seed Stage, founders capture their passion and vision for the new company and turn them into a set of key ideas, which quickly becomes a business plan, sometimes on the back of the proverbial napkin.

Silicon Valley 260

Silicon Valley Product Startup Product Development 260

Agile VC

FEBRUARY 28, 2012

Startups in NextView’s portfolio frequently receive inbound interest from other VC investors who are intrigued about what they’re doing, and I often talk with other early-stage entrepreneurs how to approach similar situations. I co-founded NextView Ventures , a seed-stage VC firm based in Boston, in 2010.

Early Stage 100

Early Stage Syndicate Syndication Silicon Valley 100

Gust

SEPTEMBER 5, 2012

How to finance a new seed-stage startup? As of August 2010, Paul Graham famously proclaimed , “Convertible notes have won. ” Ressi in particular seems to be passionate about removing the “debt” component from convertible debt seed financing transactions. Convertible debt? Convertible equity?

Finance 134

Finance Convertible Security Equity Seed Stage 134

Both Sides of the Table

SEPTEMBER 27, 2010

Now we can call you a seed-stage VC or a micro VC. This is evidenced by the current price creep that we’re experiencing for early-stage deals. But I wrote about one other point that I wrote back in March 2010 so it’s clear I didn’t just dream this up after today’s panel.

Liquidity Event 308

Liquidity Event Silicon Valley Seed Stage Finance 308

Agile VC

MARCH 8, 2012

How to Evaluate Firms for a Seed VC. In the fall of 2010 I laid out reasons why all the tech “bubble” chatter was really more the hallmark of a reasonably sustained boom , and then revisited the topic almost one year ago to the day. What’s the impact for early-stage startups? March 8, 2012. Read More ».

IPO 100

IPO Silicon Valley Revenue Seed Stage 100

Campus Entrepreneurship

MARCH 8, 2011

The leaders have seed funds that give students a chance to explore the feasibility of their ideas. Stanford is a leading campus when it comes to entrepreneurship and a new seed fund deepens the web of entrepreneurship on campus. Will more early stage investors start official partnerships with campuses?

Seed Capital 37

Seed Capital Seed Stage Early Stage Asia 37

View from Seed

OCTOBER 22, 2015

We take board seats and want to stand shoulder-to-shoulder with founders at the seed stage to try to make the biggest possible impact. – We are seed investors. And when we formed the firm in 2010, we found it critical to articulate these ideas as our core ethos, and then try to ingrain it into our language and practices.

Seed Stage 120

Seed Stage Startup Portfolio Institutional Investors 120

K9 Ventures

MARCH 23, 2011

There has been a lot of noise in the Valley lately about how most seed stage deals are now being done as convertible notes. With some of the recent high cap notes that we have seen in 2010 and 2011, I predict that the mis-alignment of incentives will still be an issue in cases where those caps don’t kick in. Where are you going?

Pre-Money Valuation 132

Pre-Money Valuation Valuation Equity Liquidation Preference 132

Agile VC

JULY 11, 2012

Here’s a slightly perverse scenario… Acme Ventures starts out as an early-stage VC investing in US-based IT companies. But usually what makes a VC partnership great in its early days doesn’t easily translate into other new strategies down the road. they generate $400M in proceeds from that $100M).

Silicon Valley 240

Silicon Valley Carried Interest Cofounder Boston 240

Both Sides of the Table

DECEMBER 13, 2010

And coming to the end of 2010 I feel a sense of reminiscence of some of the trends from a decade ago. “Reality is, at the seed stage, most rocketships look more like the cardboard variety you’d make as a kid than something NASA developed. I suspect when the wind calms down Bryce will be well positioned.

Turkey 302

Turkey Differentiation IP Technical Review 302

Jason Ball

DECEMBER 4, 2012

[This is a guest post I wrote in 2010 on 24waystostart. Every VC you meet in London will say “We do early stage.” The risk profile of that firm is simply not one that’s going to invest into an early stage – let alone a seed stage business. It still applies, so I thought I'd repost it here].

Early Stage 45

Early Stage Seed Stage Bandwidth Operations 45

Rob Go

JANUARY 20, 2015

There were a number of interesting articles published over the last week in response to Mattermark and CB Insight’s data around early stage financing activity. As a team, we’ve been thinking about what has been going on in the seed market in recent years. Third: The definition and dynamics of seed rounds have changed.

Early Stage 28

Early Stage Seed Stage Finance Seed Money 28

VC Cafe

JANUARY 24, 2012

billion raised in 2010 and almost double from the $1.12 In 2011, Israeli venture capital funds invested $525 million in Israeli companies, an increase of 42% from 2010, and a rise of 28% from 2009 levels. First investments by Israeli VC funds accounted for 31% of their total investments, compared to 29% in 2010 and 2009.

Technical Review 111

Technical Review IPO Seed Stage 111

www.seriesseed.com

MARCH 2, 2010

SeriesSeed.com Series Seed Financing Documents Blog Home Documents Blog Archives Subscribe 09/02/2010 Version 2.0 and why Series Seed Documents are better than capped convertible notes “First they ignore you. of the Series Seed Documents as well as a red-line showing the changes I’ve made from the original set. 

Finance 58

Finance Term Sheet Equity Aggregator 58

dondodge.typepad.com

JANUARY 15, 2011

Entrepreneurs face some pretty tough questions at a very early stage. How much equity should I grant to early employees? Dont worry about giving up too much equity at an early stage. Community is more powerful than money or technology » August 11, 2007 How much equity for investors and employees? startupcto

Equity 40

Equity Employee Dilution Valuation 40

Gust

OCTOBER 20, 2011

We also have data points for VC investments in seed/startup companies (but not necessarily pre-revenue companies). The following chart from Dow Jones VentureSource shows very little variation in pre-money valuation of VC seed stage deals over the past decade.

Valuation 146

Valuation Pre-Money Valuation Intellectual Property Technical Review 146

VC Cafe

JANUARY 24, 2012

billion raised in 2010 and almost double from the $1.12 In 2011, Israeli venture capital funds invested $525 million in Israeli companies, an increase of 42% from 2010, and a rise of 28% from 2009 levels. First investments by Israeli VC funds accounted for 31% of their total investments, compared to 29% in 2010 and 2009.

Technical Review 60

Technical Review IPO Seed Stage 60

VC Cafe

FEBRUARY 6, 2011

If you are in the very early stages with your company and there are no major reasons (e.g. Jeff Clavier, Seed stage investor in 90+ consumer internet startups, said: We all have a different approach to non Silicon Valley opportunities. I’m from India and lucky to be part of the Winter Silicon Valley 2010 session.

Silicon Valley 104

Silicon Valley Startup Seed Stage Delaware 104

Professor VC

FEBRUARY 26, 2010

Friday, February 26, 2010. Seed stage investing is all about the team, so there may be something to this idea. ▼ 2010. (7). I take CFO roles in early stage companies and participate on the management team during the early financings and business model development phases. ProfessorVC.

San Jose 28

San Jose Silicon Valley Venture Capital Angel Investor 28

VC Adventure

FEBRUARY 23, 2010

This year’s conference will highlight twenty promising early-growth companies; all based in the Rocky Mountain region and a majority of which are focused on clean technology, a burgeoning industry in the area.

Venture Capital 52

Venture Capital Colorado Mezzanine Wyoming 52

VC Adventure

FEBRUARY 23, 2010

Twenty Companies Ranging From Seed Stage to Mezzanine Will Showcase Next Generation Technologies from Various Industries at the 27 th Annual VCIR Winter 2010 Conference.

Venture Capital 52

Venture Capital Colorado Mezzanine Wyoming 52

Seeing Both Sides

SEPTEMBER 15, 2015

Understanding the market and establishing product/market fit is a critical seed-stage milestone. When Udi Mokady and Alon Cohen launched CyberArk — the darling of the cybersecurity industry, with a market capitalization of nearly $2 billion — the founders abandoned the local strategy early on. Partner with Foreign VCs.

Cofounder 20

Cofounder Technical Review United States 20