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 205

IRR Dilution Founder Portfolio 205

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 156

IRR Dilution Founder Portfolio 156

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

Steve Blank

MARCH 31, 2014

Just look at the disruptive challenges that businesses face today– globalization, China as a manufacturer, China as a consumer, the Internet, and a steady stream of new startups. For example, Coke added snack foods, which could be distributed through its existing distribution channels.

Private Equity 325

Private Equity Metrics China Intellectual Property 325

abovethecrowd.com

APRIL 20, 2016

The same thing happened to many Internet stocks. Gavin Baker, a high-profile portfolio manager at Fidelity has a message for Unicorn CEOs: “Generate $1 of free cash flow, and then you can invest everything else in growth and stay at $1 in free cash flow for years. Late 2015 also brought the arrival of “mutual fund markdowns.”

IPO 40

IPO Term Sheet Silicon Valley Valuation 40