Both Sides of the Table

MARCH 1, 2016

At the Upfront Summit in early February, we had a chance to have many off-the-record conversations with Limited Partners (LPs) who fund Venture Capital (VC) funds about their views of the market. Some 75% of LPs polled said they are concerned about investment pace, burn and valuations; for now, only 6% seem “deeply concerned.”

Venture Capital 150

Venture Capital LP Silicon Valley Marketing 150

The Next Web

SEPTEMBER 13, 2013

We’ve asked him to give us some insight into starting, building, and funding a company across Asia. But the problem with this is that most VCs in the Valley, especially early stage ones, only like to invest in companies that are within driving distance from their offices. This is the final part of a four-part series.

Asia 132

Asia Silicon Valley India Term Sheet 132

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. This article originally appeared on TechCrunch. I acknowledged this in the article.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Both Sides of the Table

JULY 22, 2010

I thought to myself, “OK, they were willing to F me when they thought I had no idea what I was talking about. NOTE: In the video I talked about how VC’s and entrepreneurs decide the total number of shares at the first major funding round and why it’s often a high number. No hidden terms. This is a shame.

Valuation 405

Valuation Liquidation Preference Pre-Money Valuation Term Sheet 405

Both Sides of the Table

JULY 27, 2014

We both agree that the later-stage valuations are being driven up to a point that feels irrationally priced [he uses b-round SaaS valuations as an example and I am willing to be even more broad based]. Each of the two videos is about 10 minutes long. Video 1 is here : Late stage valuations are in a mini bubble.

Valuation 309

Valuation Pre-Money Valuation Later Stage Non-Compete 309

View from Seed

JANUARY 5, 2016

I realize sports analogies for startups can feel trite, but as you think about the different phases of team-building in a startup, this one is actually pretty spot on. What did we like/not like about past companies’ approach to hiring and team development? Basketball or football? Below, I take a look at each.

Founder 120

Founder Cofounder Startup Early Stage 120

Both Sides of the Table

JANUARY 21, 2010

This all got me thinking about a post on how to best work with lawyers. When to get a lawyer - If you plan to be a venture or angel backed technology company (what I mostly write about) the best time to start meeting and getting to know lawyers is long before you ever start your company. Shame about that pesky FAS 157 ruling.

Southern California 318

Southern California Silicon Valley IP Stock Options 318

Both Sides of the Table

JUNE 27, 2021

Being too late and you back an “also ran” You also need to be right about the team. I’ve sometimes been right about the market value but too early. You’re thinking about one bullet at a time. At Upfront we often talk about these as “shots on goal” (a fitting soccer analogy given the EURO 2020 tournament is on right now).

Bankruptcy 294

Bankruptcy Bridge Financing Portfolio Angel Investor 294

Austin Startup

MAY 11, 2017

Our unique approach to investing, coupled with a pioneering spirit, provides the vision to guide early stage growth companies beyond today and toward future success. All of us are or have been General Partners in venture capital firms or Senior Executives in top technology companies. New Age VC About This is just a start.

Private Equity 48

Private Equity Venture Capital Technical Review Seed Stage 48

View from Seed

SEPTEMBER 14, 2021

Back in 2018, my colleague Rob wrote a blog post about how the VC asset class is doing. If someone is being more clever about it, they might predict the advances of the next 30 years not by looking at the previous 30 years, but by taking the current rate of progress and judging based on that. What Does the VC Performance Data Tell Us?

Valuation 319

Valuation Pre-Money Valuation Distribution Early Stage 319

View from Seed

SEPTEMBER 14, 2021

Back in 2018, my colleague Rob wrote a blog post about how the VC asset class is doing. If someone is being more clever about it, they might predict the advances of the next 30 years not by looking at the previous 30 years, but by taking the current rate of progress and judging based on that. What Does the VC Performance Data Tell Us?

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295

David Teten

JUNE 22, 2012

In announcing these finalists, David Teten, Founder and Chairman of HBSAANY, and Partner at ff Venture Capital ( ffvc.com ), said “VCAP has introduced us to entrepreneurs looking at opportunities which would otherwise have been invisible to us. About Harvard Business School Alumni Angels of Greater New York. domestic market.

Programming 128

Programming Accredited Investor Naming New York 128

Gust

JANUARY 4, 2012

Given that 2011 is already behind us, I’d like to take a brief time-out from the usual legal and financial wonkery to wish you and your loved ones a Happy New Year. Is there anything we can do about it? The amount of investment in IP in any direct sense is generally small for early stage startups. By 2013, the U.S.

Intellectual Property 143

Intellectual Property IP Startup United States 143

Both Sides of the Table

FEBRUARY 15, 2016

This has led VC & entrepreneur bloggers alike to similar conclusions: start raising capital early and be careful about having too high of a burn rate because that lessens the amount of runway you have until you need more cash. While there is no “one size fits all” I used to give the advice that you should plan about 4.5

Burn Rate 150

Burn Rate Cap Table Valuation Software Review 150

David Teten

JULY 25, 2017

As I’ve worked to build out HOF Capital ’s portfolio acceleration platform , the #1 question I think about is: how do we scalably support our companies? We also have a better known brand than some of our early stage companies, so we can leverage that to help source talent. We have lower AUM, therefore lower management fees.

Portfolio 60

Portfolio Technical Review Private Equity Database 60

David Teten

JUNE 22, 2012

In announcing these finalists, David Teten, Founder and Chairman of HBSAANY, and Partner at ff Venture Capital ( ffvc.com ), said “VCAP has introduced us to entrepreneurs looking at opportunities which would otherwise have been invisible to us. About Harvard Business School Alumni Angels of Greater New York. domestic market.

Programming 114

Programming Accredited Investor Naming New York 114

View from Seed

APRIL 30, 2015

What is it, and how should founders think about it? You’ll also see some startups use it as an additional cushion. From a company milestones perspective, entrepreneurs who take on venture debt are almost always thinking about raising that next round of capital from other institutions.

Term Sheet 120

Term Sheet Equity Startup Seed Stage 120

Feld Thoughts

JUNE 20, 2014

With yesterday’s announcement that early-stage VC Greycroft has raised a $200 million growth fund , this type of fund has officially become a trend. ” Prior to this, plenty of VC firms invested across the early stage to late stage spectrum from the same fund (e.g.

Early Stage 147

Early Stage Later Stage Syndicate Syndication 147

Seeing Both Sides

AUGUST 28, 2017

Instead I will make a few observations about how an investor might think about the impact of ICOs / token launches on the venture capital industry, in particular, and some of the downstream ramifications that need to wrestled with. In short, token sales allow early stage companies to skip the series B round and beyond.

Early Stage 20

Early Stage Equity Venture Capital Government 20

Seeing Both Sides

AUGUST 28, 2017

Instead I will make a few observations about how an investor might think about the impact of ICOs / token launches on the venture capital industry, in particular, and some of the downstream ramifications that need to wrestled with. In short, token sales allow early stage companies to skip the series B round and beyond.

Early Stage 20

Early Stage Equity Venture Capital Government 20

Feld Thoughts

JUNE 20, 2014

With yesterday’s announcement that early-stage VC Greycroft has raised a $200 million growth fund , this type of fund has officially become a trend. ” Prior to this, plenty of VC firms invested across the early stage to late stage spectrum from the same fund (e.g.

Early Stage 108

Early Stage Later Stage Syndicate Syndication 108

David Teten

JANUARY 9, 2018

What VCs most typically talk about are: – Industry expertise. That said, one limitation in early-stage investing particularly is that 2022’s growth sectors probably don’t fit neatly into a vertical we can define today. Our industry is highly noisy, and VCs use their networks to filter for signal amidst the noise.

Venture Capital 60

Venture Capital Private Equity Silicon Valley Differentiation 60

David Teten

JANUARY 9, 2018

What VCs most typically talk about are: – Industry expertise. That said, one limitation in early-stage investing particularly is that 2022’s growth sectors probably don’t fit neatly into a vertical we can define today. Our industry is highly noisy, and VCs use their networks to filter for signal amidst the noise.

Venture Capital 60

Venture Capital Private Equity Silicon Valley Differentiation 60

View from Seed

SEPTEMBER 14, 2021

Back in 2018, my colleague Rob wrote a blog post about how the VC asset class is doing. If someone is being more clever about it, they might predict the advances of the next 30 years not by looking at the previous 30 years, but by taking the current rate of progress and judging based on that. What Does the VC Performance Data Tell Us?

Valuation 156

Valuation Pre-Money Valuation Distribution Early Stage 156

The Next Web

AUGUST 26, 2013

If you want to get an investor on board, try to understand what investors care about – it’s mainly the team and the product. Before you start talking to large VCs, find some early stage investors. Stefan Tirtey, Partner at Doughty Hanson Ventures , created this document with Berlin early stage investors.

Management 120

Management Cofounder Startup Bootstrapping 120

The Equity Kicker

MARCH 10, 2014

As you can see from the graphs below the number of seed funds is growing very fast whilst the number of later stage funds is flat. If I was passionate about my country’s startup ecosystem I would aim to make good money out of my startup and then come home and invest the proceeds locally.

Later Stage 142

Later Stage Early Stage Europe Green 142

Austin Startup

JUNE 27, 2017

There are also investment firms that are not making new investments out of their existing fund but that, according to Crunchbase , have made new investments within the past year and which tell us that they have plans to raise a new fund. Corsa Ventures fits this criteria. IS THERE ROOM FOR MORE LOCAL CAPITAL IN AUSTIN?

Venture Capital 54

Venture Capital Austin Texas Private Equity 54

Both Sides of the Table

MAY 30, 2018

One of the hardest things about the fund-raising process for entrepreneurs is that you’re trying to raise money from people who have “asymmetric information.” I thought I’d write a post about how to talk about valuation at a startup and give you some sense of what might be on the mind of the person considering funding you.

Valuation 324

Valuation Post-Money Valuation Pre-Money Valuation Cofounder 324

K9 Ventures

JUNE 5, 2015

I still wanted K9 to be the first institutional money in a company and work with “frighteningly early-stage” companies. As the check size increases, investors tend to look for more traction, established revenue models, proven unit-economics, and other metrics that were previously associated with later stage companies.

Seed Stage 48

Seed Stage Venture Capital Early Stage Valuation 48

View from Seed

DECEMBER 6, 2018

To analyze what’s become of the OG Unicorns, it’s first worth noting that at the time of the 2013 post about 2/3rds of the 39 on the list had already been realized via IPO or $1B+ acquisitions. What about today? To be clear that 2013 list was explicitly US-based companies. for $250M in 2016 by Hudson Bay, subsequently acq.

IPO 120

IPO Valuation San Francisco Silicon Valley 120

David Teten

SEPTEMBER 5, 2014

I’ve also presented at a range of industry conferences on how institutional investors can use professional networks for research , origination , market research , and value creation. Prabhdeep Singh: Ask any entrepreneur about their most valuable resource when they’re making tough decisions, and you’ll hear the name of someone, not something.

New York 114

New York Technical Review Networking Advisory Board 114

OnlyOnce

MARCH 14, 2011

As part of The Magill Report’s Online Entrepreneur column, I’d like to share some of Return Path’s learning about how to stay innovative as you grow. In Part Two, I’ll talk about some of the practices we’re using in our product management and development teams. This team worked as a team, not as individuals.

Software Review 67

Software Review Development Team Review Later Stage Technical Review 67

Both Sides of the Table

APRIL 28, 2010

You also might enjoy hearing him talk about his background – including the fact that he was actually the executive assistant for Condoleezza Rice during one of the more historic and controversial periods of time in recent history! On the show I’ll I could get him to talk about was his travels on Air Force One.

Venture Capital 270

Venture Capital Cofounder Spain San Diego 270

Berkonomics

AUGUST 3, 2023

When the need is high… For the rest of us, desiring to build large, valuable enterprises quickly, the need for outside capital is high on our list of requirements and even the source for some sleepless nights as we worry over the availability and cost of capital. There is a lot to say about retaining control.

Private Equity 118

Private Equity Valuation Cap Table Accredited Investor 118

YoungUpstarts

JANUARY 22, 2017

How much time do you spend worrying about your competition? Early-stage companies need to define their niche in the market they serve and iterate, iterate, iterate until they’ve got a solution that delights their customer and can scale. Later-stage companies are in operating mode.

Private Equity 113

Private Equity Later Stage IPO Early Stage 113

The Equity Kicker

NOVEMBER 28, 2016

Different investors place different weights on the three elements but as a rule earlier stage investors place more emphasis on the team and later stage investors place more emphasis on the market. Some very early stage investors go as far as to say that for them team is everything.

Seed Stage 60

Seed Stage Later Stage Early Stage Partner 60

Both Sides of the Table

MARCH 12, 2013

I first met Greg about 4 years ago or so. He shared tons of information about how how they were using marketing to quantitatively make marketing decisions at HauteLook and acquire customers for prices that were far cheaper than similar companies. So I began talking to him about joining the fund. You won’t regret it.

Partner 360

Partner Las Vegas Los Angeles San Francisco 360