View from Seed

AUGUST 17, 2021

A few weeks ago, we hosted a small dinner for a number of portfolio company founders, LP’s, and friends of the firm. One industry specific example is the strange fascination among some LPs and GPs around term IRR. This is the implied rate of return of a fund based on the value (mostly unrealized) of a portfolio.

IRR 136

IRR Dilution Founder Portfolio 136

Both Sides of the Table

JULY 23, 2014

At the other end of the spectrum large funds have gotten even larger in the past few years which has massively increased the amount of consolidation in our industry as 66% of LP money into venture is now concentrated in late-stage or full-cycle VCs. The “big boom” in startup financing started around March 2009?—?more Why is this?

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Both Sides of the Table

MAY 27, 2013

Any CEO worth his or her salt knows that her investors get an insane amount of emails and often spend 8+ hours / day in meetings (board meetings, pitches, partner meetings, LP meetings, corporate relationship meetings) so often email is done on the run on one’s iPhone or in the early morning / late evening. Startup Advice'

Advisory Board 365

Advisory Board CTO Hire Fractional CTO Los Angeles 365

Agile VC

DECEMBER 6, 2012

A little more inside baseball from the VC biz… why VC’s rarely make “crossover” investments, with capital from multiple funds the VC firm manages invested in a single startup (see note 1). If Acme Ventures III, LP invests in Startup X then typically Acme Ventures IV, LP would not. Why is this?

LP 178

LP Balance Sheet Differentiation Limited Partner 178

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. why buy me? why buy now? VCs see companies all the time.

Developer 366

Developer Silicon Valley PR Las Vegas 366

The Equity Kicker

JULY 8, 2019

Then from the mid 2000s, value add began moving beyond the partner to the firm as VCs began employing people who’s full time job was helping their portfolio. The most common strategies are to provide networking services and content to portfolio leaders so they can be more effective in their jobs. . Building platforms.

Portfolio 84

Portfolio LP Venture Capital Partner 84

Austin Startup

DECEMBER 12, 2017

Cindy Revol, Joe Beard and Anurag Jain from Perot Jain, LP We received a warm welcome from Trey Bowles when we first came to Dallas and there have been many others who have opened their arms to us since. About Capital Factory Capital Factory is the center of gravity for entrepreneurs in Austin, the number one startup city in the U.S.

Dallas 48

Dallas San Antonio Houston Texas 48

The Equity Kicker

JULY 16, 2012

I’ve been advising startups for a long time now to make sure their fundraising is consistent with the size of their opportunity. Unfortunately, it is in the nature of startups that the opportunity size is usually unclear at the early stages. sounds inspirational, i know, but stick with me for a minute.).

LP 105

LP Early Stage Valuation Differentiation 105

This is going to be BIG.

JULY 30, 2015

One of the first things I did when I joined the venture asset class as a lowly institutional LP analyst in 2001 was to build the VC fund cashflow model. You don't want the "average" fund, because average funds don't do well--just like you don't want to model the average startup, because you might as well draw a big flaming hole in the ground.

Venture Capital 60

Venture Capital Pre-Money Valuation IRR Valuation 60