Feld Thoughts

JUNE 4, 2019

While 2011 is only eight years ago, it’s a lifetime in the world of finance, private equity, venture capital, and business. 2006 was still the pits for venture capital, although a number of legendary companies (LinkedIn, Twitter, Facebook) were in their early phases of getting started.

Private Equity 82

Private Equity Cofounder Equity Venture Capital 82

Feld Thoughts

JULY 11, 2015

He’s most known for founding Foundry Group, a prominent venture capital firm that focuses on early stage investment, but also co-founded startup accelerator Techstars.” ” I was born in Blytheville, Arkansas on an air force base in 1965.

Arkansas 70

Arkansas Kansas City Dallas Vietnam 70

Feld Thoughts

JULY 30, 2015

Yesterday we closed our fifth fund, Foundry Venture Capital 2016, L.P. In 2007 we raised our first fund – Foundry Venture Capital 2007. We subsequently raised a $225 million fund in 2010 , another one in 2013 , and a late stage fund in 2013. We invest $5 million to $15 million in a company over its lifetime.

Minneapolis 70

Minneapolis Phoenix Portland Syndicate 70

Feld Thoughts

JANUARY 2, 2016

” When I go back a decade, we were just making the decision not to raise another Mobius Venture Capital fund. Venture Capital and entrepreneurship was dramatically out of favor. Early stage and seed capital was extremely difficult to find. Techstars didn’t exist.

Venture Capital 70

Venture Capital Seed Capital Early Stage Partner 70

Feld Thoughts

DECEMBER 9, 2015

During these discussions, we reflected on the incredible collection of early stage VC firms we’ve invested in personally over the years. We’ve been investing as individuals in venture firms going back almost 20 years. At the same time we discussed our later stage investment strategy.

Later Stage 70

Later Stage Early Stage Advisory Board Deal Flow 70

Feld Thoughts

OCTOBER 31, 2010

While I’ve spent a lot of time in Silicon Valley — both as an angel and venture capital investor — I’ve never lived there. The first was to energize the early stage software/Internet entrepreneurial community in Boulder. Here it is in its entirety. I’ve lived in Boulder for 15 years after living in Boston for a dozen.

Community 171

Community Silicon Valley United States Boston 171

Feld Thoughts

AUGUST 31, 2017

For an early stage investment, we only invest in our themes. While I was doing this, a background process in my mind linked me back to the post I wrote on VC Fund Differentiation (or lack thereof). If you’ve heard this riff before, the next bit will be redundant to you. <riff> <riff> We have a set of filters.

Differentiation 86

Differentiation Early Stage Founder Product 86

Feld Thoughts

JULY 25, 2011

How Much Equity Should an Early Stage COO/CFO Get? We did this for a while, getting to most of the questions which has created a very nice corpus of answers to several hundred questions easily searchable by Lijit. For example: How Did We Get Our Idea For Our Startup? How Do You Negotiate a Carve Out With Investors?

Early Stage 124

Early Stage Equity Entrepreneur Startup 124

Feld Thoughts

FEBRUARY 25, 2016

Since the beginning of the year, I’ve experienced four retrades – two early stage, one growth, and one late stage – and I’ve heard of a number of others. The retrades have begun.

Term Sheet 70

Term Sheet Reputation Valuation Acquisition 70

Feld Thoughts

JULY 14, 2015

But instead of adding it on to the note or doing an equity round with a price, which could still be an early stage price but below the cap, they make the argument that since the company couldn’t raise a round, the company is worthless. So they recapitalize the company.

Recapitalization 70

Recapitalization Pre-Money Valuation Post-Money Valuation Angel Investor 70

Feld Thoughts

JUNE 6, 2012

This is true at early stages but also true at later stages. We describe Foundry Group ‘s behavior as “syndication agnostic.” ” When we make an investment, we are completely agnostic as to whether or not we have a co-investor.

Syndicate 136

Syndicate Syndication Cofounder Angel Investor 136

Feld Thoughts

MAY 8, 2012

Our strategy is “early stage” – so we are comfortable with seed investments, first round investments, and what might in the past have been called Series B investments if the company hasn’t raised much money to date (less than $3m). This translates into about a dozen new investments a year plus or minus a few.

Seed Stage 138

Seed Stage LP Warrant Syndicate 138

Feld Thoughts

JUNE 2, 2015

And, while I care a lot about my entry point as an early stage investor, I’ve learned not to optimize for a small amount in the context of a pricing negotiation. In Mattermark’s case where there were a lot of notes stacked up, I cared a lot about the post-money.

Liquidation Preference 70

Liquidation Preference Cap Table Angel Investor Post-Money Valuation 70

Feld Thoughts

MAY 20, 2015

And I don’t care since, as an early stage investor, I play a long term investing game, because I have to. ” I have no idea if we are in a bubble or not. I can’t control liquidity or timing, especially when I initially make an investment.

Early Stage 70

Early Stage Leadership Global Internet 70

Feld Thoughts

SEPTEMBER 30, 2019

20VC: BRAD FELD ON WHY MARKET SIZE AT EARLY STAGE IS NOT HELPFUL, HIS BIGGEST LEARNINGS FROM THE BOOM & BUST OF THE DOT COM AND HOW THE BEST VCS WORK FOR THEIR CEOS. I did an interview with him early on (#65) so it’s particularly fun to do an interview number that is great than this year. I adore Harry.

Early Stage 18

Early Stage Marketing Entrepreneur Venture Capital 18