Rob Go

JANUARY 7, 2013

As a founder, it feels like a long time, but it’s really a blip on the radar in the scheme of things. This is why I’ve made a habit of profiling our portfolio quantitatively and why we write summaries announcing pretty much all of our new investments. So, here is our annual quantitative summary of our portfolio.

Portfolio 49

Portfolio Seed Stage Cofounder B2B 49

Austin Startup

AUGUST 1, 2017

TL;DR: In a market that has historically idolized huge, splashy financings and exits, an increasing number of entrepreneurs are realizing that everyone else’s definition of success — particularly among certain large VCs — isn’t necessarily aligned with their own. Most individual VCs can only support about 7–10 companies at a time.

Liquidation Preference 48

Liquidation Preference Common Stock Valuation Silicon Valley 48

David Teten

AUGUST 21, 2019

Most founders who are raising capital look first to traditional equity VCs. Or should they look to one of the new wave of Revenue-Based Investors? Revenue-Based Investing (“RBI”) is a new form of VC financing, distinct from the preferred equity structure most VCs use. RBI investors usually don’t take equity.

Revenue 60

Revenue Liquidation Preference Equity Cofounder 60

Hunter Walker

JUNE 21, 2014

One question entrepreneurs sometimes don’t ask when raising seed financing is “will this investor be able to follow on in future rounds.” This is certainly one way to ensure you can pledge support to a founder while also maintaining your ownership, but it’s not the only approach.

Institutional Investors 91

Institutional Investors Dilution Later Stage Portfolio 91

Rob Go

SEPTEMBER 2, 2014

Unlike large funds with hundreds of missions of dollars in each fund, it doesn’t take a huge amount of capital to getting going as a seed investor, so the barriers to entry are not as high. As I’ve blogged about in the past, there are positives and negatives to this strategy, but it is a viable option to some founders.

Cram Down 66

Cram Down Institutional Investors Dilution Seed Stage 66

David Teten

APRIL 7, 2017

This is the debut of an annual series of summits focused on sovereign wealth funds, institutional investors, family offices, venture capitalists, and entrepreneurs interested in technology-driven entrepreneurship and with ties to the Middle East and North Africa (MENA) region. The summit is hosted by: – ABANA – the preeminent U.S.

New York 60

New York Africa Cofounder Egypt 60

BeyondVC

NOVEMBER 17, 2016

We each independently fell in love with enterprise software 20+ years ago as seed investors (cos like gotomeeting/Citrix, greenplum/EMC, livperson/IPO LPSN) and founders (workmarket, onforce/Adecco, spinback/buddymedia/salesf0rce) and are now benefiting from the ecosystems, knowledge and network that we’ve collectively developed.

Cap Table 60

Cap Table Cofounder Dividend Institutional Investors 60

Hunter Walker

APRIL 27, 2014

We brief our major investors quarterly and decided to model our LP meeting after what “big funds” do, albeit with a few Homebrew flourishes :) Logistically this meant an afternoon session with presentations/Q&A then a dinner with founders/advisors. We love our founders. Afternoon Session. And we invest in 1.2

LP 97

LP Cofounder Term Sheet Valuation 97

Both Sides of the Table

OCTOBER 1, 2009

But there are many zombie VC’s with no more investments left in their portfolios so it’s hard to know which trend has more impact. Sentiment is strong in personal portfolios and up commensurately with VC’s expectations that their last fund will now be worth something (and along with that increase the partners’ personal wealth).

IPO 255

IPO Investment Bankers Venture Capital Marketing 255

K9 Ventures

MAY 14, 2011

This in theory is very similar to the behavior of institutional investors, however, there is one big difference. Institutional investors make sizable investments in a company, so that when they do get a big hit that can make the whole fund. However, there is a difference. The cycle will continue, as it inevitably does.

Preferred Stock 125

Preferred Stock Seed Stage Incubator Early Stage 125

VC Cafe

MARCH 20, 2011

Footbo has been running since 2007 and is led by co-founder and CEO Mani Honigstein – full article on Techcrunch. million in its third financing round led by Pitango Venture Capital. Japan’s Softbank and current investors General Catalyst, Spark Capital, and Union Square Ventures also participated. has raised $16.5

Venture Capital 87

Venture Capital Startup Denmark 87

Rob Go

NOVEMBER 30, 2012

Given this definition, we continue to see dedicated seed funds providing strong benefits for founders, including: Minimal signaling risk at the next round of financing. This risk is alive and well and makes dedicated seed funds a compelling option for founders. Flexibility of exit options. In many cases, this is still true.

Seed Stage 55

Seed Stage Pre-Money Valuation Dilution Early Stage 55

Hunter Walker

SEPTEMBER 29, 2022

As more growth and crossover investors came into the startup ecosystem they were often eager to put capital to work and happy to consolidate their positions with common or preferred shares from early employees, founders and previous investors. We’re aligned with the founders and the rest of the cap table until we aren’t.

Venture Capital 122

Venture Capital Cap Table LP Equity 122