Both Sides of the Table

MARCH 6, 2017

So LPs are looking for a combination of “established top tier” and “new managers with differentiation.” Chang Xu for her tireless effort in helping me prepare and analyze the data) If you met with LPs to raise a fund in 2009–2012 the most common refrain was, “We have too many managers and too many dollars in venture.

LP 286

LP Silicon Valley Venture Capital Startup 286

David Teten

JANUARY 19, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. From RBI, Flexible VCs borrow the ability to reap meaningful returns without demanding founders build for an exit. By tying payments to actual revenues, founders and investors remain aligned around the company’s real-time performance, good or bad.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

David Teten

MARCH 18, 2021

(co-written with Stephane Nasser , co-founder of OpenVC , an open-source initiative to collect and analyze all VC theses.). OpenVC is a new, open-source initiative to collect and analyze all publicly available VC theses, to help founders more efficiently find the right investors, and vice-versa. of venture capital deals.

Technical Review 78

Technical Review Cofounder Venture Capital Deal Flow 78

Both Sides of the Table

JANUARY 30, 2016

I have been evangelizing to founders for years to be more thoughtful about how startups update investors and run board meetings so I would be pretty hypocritical if I wasn’t willing to try and be more effective myself. Before making this change I called our LPs to ask for advice and input. So we planned a Technology Summit.

Community 150

Community Los Angeles LP Portfolio 150

David Teten

DECEMBER 3, 2019

Private equity and venture capital investors are copying our sisters in the hedge fund world: we’re trying to automate more of our job. . To learn more about this space, I suggest join an online community I co-founded, PEVCTech. . 3) Raise capital. When I was single, I registered for (a lot of) dating websites.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Both Sides of the Table

SEPTEMBER 29, 2013

If you track the venture capital industry it would be hard to miss the conversation going on this week over AngelList “Syndicates.” I had a chance to discuss AngelList Syndicates with Naval at Michael Kim’s Cendana LP/VC conference on a panel with Naval, Roger Ehrenberg (IA Ventures) and Mike Brown, Jr.

Syndicate 356

Syndicate Syndication Cofounder Early Stage 356

Austin Startup

AUGUST 10, 2017

We were roommates at the time and launched two different companies out of a kind-of dumpy apartment: We both went on to raise millions in venture capital and build meaningful businesses in interesting spaces. He co-founded the first angel investor group in the Bitcoin space, BitAngels , in 2013, which grew to over 500 members globally.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

VC Cafe

JULY 4, 2022

What’s happening in the venture capital world? The WSJ confirmed what we already know: Q2 venture capital investments declined both in size and in valuation. Venture Capital Feels the Stock Market’s Pain, Wall Street Journal. For example, Klarna is rumoured to be raising $650M in fresh capital at $6.5

Venture Capital 167

Venture Capital Valuation Private Equity LP 167

thebarefootvc

FEBRUARY 19, 2014

”, almost exactly 2 years ago to this day at Bloomberg LP’s headquarters in NYC as part of Social Media Week. If this acquisition, cited as the largest venture backed exit ever, doesn’t change that view, I’m not sure what will. He worked at Yahoo, where he met his co-founder.

India 107

India North America Ukraine Silicon Valley 107

Both Sides of the Table

FEBRUARY 18, 2017

Union Square Ventures (USV) has been one of the most successful venture capital firms of the past 10–15 years and continues to be a leader in our industry. This followed the firms founder Don Valentine handing leadership early to Mike Moritz and Doug Leone who then entrusted Jim Goetz. And so it goes.

Leadership 161

Leadership LP Venture Capital Silicon Valley 161

David Teten

DECEMBER 12, 2017

As a globally focused LP in early stage VC funds, we at Blue Future Partners have observed a growing trend of firms investing substantially in software tools, whether developing proprietary solutions or adopting off the shelf tools. I’d expect a similar shift in venture over the next decade or two.”.

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

This is going to be BIG.

FEBRUARY 23, 2016

You run X amount of capital and Y percentage of that is allocated to venture capital. Rather than see LP interactions as a chore or a burden, new fund managers should see this as an opportunity to extend the community around their fund. LPs could represent meaningful co-investors on deals and great mentors to founders.

Limited Partner 60

Limited Partner Venture Capital Partner LP 60

Both Sides of the Table

JUNE 8, 2014

Cincinnati, like many startup communities in the US over the past 5 years, has revitalized important regions in its urban core, created accelerators, built co-working facilities, pooled together angel capital, attracted VCs, involved educational institutions and solicited the help of important corporations in a more cohesive ecosystem.

Silicon Valley 390

Silicon Valley Kansas City Startup Venture Capital 390

This is going to be BIG.

DECEMBER 3, 2020

The partner at the fund, the VC, gets to do the fun part—the meeting with founders, vetting deals, negotiating, helping, etc. Having a better overall portfolio of venture capital by adding funds into the mix. You get, if you’re lucky, a Powerpoint and some financials once a quarter. So what’s the point? Access to the partner.

Portfolio 134

Portfolio Syndicate Syndication Deal Flow 134

Feld Thoughts

JULY 31, 2014

In addition to being an incredibly supportive investor in us from the beginning, this LP has become an extremely close friend. As I was walking home after dinner, I thought about the person who had introduced us to this LP. The wonderful dinner last night with the LP Fred introduced me to reminded me of this.

LP 155

LP Advisory Board Venture Capital Early Stage 155

Both Sides of the Table

SEPTEMBER 1, 2016

Rolf Winkler wrote a piece in the WSJ about A16Z’s returns in which he says they “lag behind Sequoia, Benchmark and Founders Fund.” Scott Kupor of A16Z responded with a comprehensive overview of valuation methodology in a post that while accurate feels more targeted at sophisticated Limited Partners (LPs) who invest in funds.

LP 264

LP Jordan Cofounder Limited Partner 264

Both Sides of the Table

MARCH 3, 2013

In a discussion I had with Fred Wilson at the Invesco LP meeting Fred said the same about the influence of Clayton. But “on capital employed” encourages companies to push more off balance sheet and thus into offshore & outsourced situations. Venture Capital. So they could monetize and people would pay.

Bankruptcy 403

Bankruptcy Offshore Liquidation Preference Balance Sheet 403

David Teten

AUGUST 21, 2019

Most founders who are raising capital look first to traditional equity VCs. RBI normally requires founders to pay back their investors with a fixed percentage of revenue until they have finished providing the investor with a fixed return on capital, which they agree upon in advance. But should they? Optionality.

Revenue 60

Revenue Liquidation Preference Equity Cofounder 60

Both Sides of the Table

APRIL 10, 2016

My partner Greg Bettinelli (worth following on Twitter) was recently named by The LA Business Journal as the “ Top deal maker in Los Angeles in Venture Capital.” And Greg has had the most influence on Upfront Ventures’ strategy since he joined. ” Numero uno. I was nowhere to be found.

Los Angeles 150

Los Angeles Early Stage LP Partner 150

Agile VC

NOVEMBER 13, 2012

There are some obvious structural reasons why a shakeout in the venture capital industry takes a long time. The reality is that it wasn’t until the GEC (Global Economic Crisis, Great Recession, Credit Crunch, call it what you will) of late 2008 and early 2009 that the shakeout really began for venture capital.

LP 154

LP Portfolio Venture Capital IRR 154

The Equity Kicker

JANUARY 19, 2016

Fortunately Steve Schlenker, co-founder of DN Capital has captured most of them in his Quora answer to the question: How hard is it to be a venture capitalist. The root of the problem, I think, is that from the outside venture capital looks easy, especially during bull markets.

Europe 60

Europe IPO LP Venture Capital 60

Agile VC

JULY 19, 2012

1) Self-Awareness & Humility - These are of course virtues that transcend venture capital or even professional pursuits broadly. A good example of this was Charles River Ventures experience with their 11th fund. And yes… great firms are self-confident too.

Cofounder 193

Cofounder Limited Partner Early Stage LP 193

Feld Thoughts

APRIL 23, 2015

We had a blast together and as we went out to raise our Foundry 2007 fund, Scott made several introductions which resulted in two wonderful, long term LP relationships. ” Second, I went through the scale up of the organizational VC firm in the late 1990s at Mobius Venture Capital.

Advisory Board 70

Advisory Board Venture Capital LP Seed Stage 70

David Teten

JULY 12, 2017

First, a formal definition: According to Capital Dynamics , “Co-investments are direct investments in a company made alongside and on the same terms as a lead [General Partner]. Atish Davda, co-founder of EquityZen , observes, “While there are hundreds of ways to put capital into the ecosystem, taking money out remains harder.

Syndicate 60

Syndicate Syndication Institutional Investors LP 60

thebarefootvc

MARCH 8, 2012

While the seed capital gap has closed, there are still only a handful of venture capital firms here in NYC investing in the crucial Series A/B rounds. In contrast, many Silicon Valley funds are large with much capital to put to work (which is why we are seeing them lead NYC deals at these stages).

Silicon Valley 69

Silicon Valley Ghana Venture Capital India 69

Growthink Blog

AUGUST 14, 2010

The best articulation of it comes from Basil Peters, a serial technology entrepreneur, co-Founder of Nexus Engineering, former Canada Entrepreneur of the Year, and Managing Partner at 3 venture capital funds – Fundamental Technologies I and II and the BC Advantage Funds. Here's why: You, Mr. or Ms.

Private Equity 67

Private Equity Intellectual Property IPO Venture Capital 67

ithacaVC

FEBRUARY 13, 2013

Someone who negotiates carry yet never sees a return, fights for attribution, tames cantankerous LP side-letter requests…. Negotiate a $20 million pre-money with a 19-year-old founder CEO. He is the author of “The Business of Venture Capital”, and co-author (with Brad Feld) of “Startup Boards”. So, God made a VC!

Liquidation Preference 55

Liquidation Preference IRR Due Diligence LP 55

K9 Ventures

DECEMBER 10, 2011

I must admit that I do also have some exceptions to this rule – LucidChart is based in Provo, UT, and Occipital is presently in Boulder, CO. I’m not saying that VCs work harder than founders do, but they’re not slacking off either. Maybe if I make it 30 miles as-the-crow-flies, it may still hold!

Silicon Valley 124

Silicon Valley San Jose Portfolio Cofounder 124

K9 Ventures

DECEMBER 10, 2011

I must admit that I do also have some exceptions to this rule – LucidChart is based in Provo, UT, and Occipital is presently in Boulder, CO. I’m not saying that VCs work harder than founders do, but they’re not slacking off either. Maybe if I make it 30 miles as-the-crow-flies, it may still hold!

Silicon Valley 112

Silicon Valley San Jose Portfolio Cofounder 112

The Startup Lawyer

JANUARY 6, 2011

Founder and Partner at AOL Ventures , a few weeks ago. He graciously obliged and the following Q&A about AOL Ventures and “Corporate VC&# is an excerpt from that conversation/interview: Give us the background on your fund and what you guys are up to ? CrunchBase Profile for AOL Ventures ).

Early Stage 58

Early Stage LP Later Stage Balance Sheet 58

This is going to be BIG.

NOVEMBER 16, 2015

It just seemed like a fitting title for a company built around narrative by a founder who used to write stories for a living. It's a story that just hit a milestone--a $4mm round of venture funding that I'm ecstatic to say Brooklyn Bridge Ventures just led. He certainly would have been my first co-investor call.

Venture Capital 60

Venture Capital Cofounder Syndicate Syndication 60