David Teten

JANUARY 19, 2021

From RBI, Flexible VCs borrow the ability to reap meaningful returns without demanding founders build for an exit. Every Flexible VC structure allows founders to access immediate risk capital while preserving exit, growth trajectory, and ownership optionality. . Flexible VC 102: Variations.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

K9 Ventures

AUGUST 14, 2017

It was a conscious decision to maintain the fund size at the same level, despite both market pressure (larger rounds at earlier stages) and demand pressure (lots of LP money entering the stage) to raise a larger fund. Founders have a vision of what the world will be like in the future. K9’s last fund, K9 Ventures II, L.P.,

Technology 96

Technology LP San Francisco Portfolio 96

Hunter Walker

APRIL 24, 2017

Folks outside of seed stage venture often think “winning” deals is the most important part of being a great investor, but I’d argue it’s “seeing” the best opportunities that’s actually the strongest indicator of future fund success. What can we do in these situations?

Cap Table 71

Cap Table LP Seed Stage Vertical 71

This is going to be BIG.

FEBRUARY 23, 2016

Rather than see LP interactions as a chore or a burden, new fund managers should see this as an opportunity to extend the community around their fund. That happens most when the LPs represent a diverse group of industries and perspectives who want to be helpful to portfolio companies and founders.

Limited Partner 60

Limited Partner Venture Capital Partner LP 60

Haystack

APRIL 27, 2018

. ” — Micah Rosenbloom of Founder Collective, April 2018. Looking back on this, in a way, it’s silly; yet, for seed-stage investors and the founders we back, getting companies from seed to Series A is a really important milestone, a milestone I’ve likened to getting into the graduate school of one’s choice.

Naming 60

Naming Venture Capital Seed Stage Cap Table 60

K9 Ventures

OCTOBER 10, 2017

So, I took it upon myself as a challenge to put together the definitive “ Pre-Seed FAQ.” I’ll start with all the questions I can think of, from many different perspectives: founders, LPs, the press, and even other VCs. Where did the term Pre-Seed come from? Seed rounds were getting bigger.

Seed Stage 82

Seed Stage Finance Later Stage Equity 82

K9 Ventures

OCTOBER 12, 2015

It’s tough job… I don’t envy the LPs who have to make calls in such situations. What does all this mean for founders? This means more noise in the system for seed stage investors. More companies get funded at the early stages. Instead, I’d call it a Seed Explosion.

Venture Capital 48

Venture Capital Seed Stage LP Valuation 48

K9 Ventures

JUNE 18, 2015

Seed Is The New A: What The Seed-Stage Explosion Means For Founders, GPs & LPs. Here is the video recording of the talk I gave at 500 Startups ‘ PreMoney Conference in San Francisco on 12 June. . And the deck from my talk. Thanks to 500 Startups #PreMoney.

San Francisco 48

San Francisco Seed Stage Founder Video 48

Both Sides of the Table

SEPTEMBER 28, 2011

Separately, in the morning I called a seed-stage investor in NY and talked to him about investing in one of my companies. We call these investors “LPs” for limited partners. I had lunch with an LP. He turned me down for a job in 2005. Yesterday I offered him a term sheet. Fund raising. This guy was a hustler.

Email 314

Email Product Term Sheet Portfolio 314

Feld Thoughts

APRIL 23, 2015

We had a blast together and as we went out to raise our Foundry 2007 fund, Scott made several introductions which resulted in two wonderful, long term LP relationships. When we started Mobius, we were four founders and two EAs. A year or two later they had less than 3% market share on mobile.

Advisory Board 70

Advisory Board Venture Capital LP Seed Stage 70

Bryce Dot VC

NOVEMBER 19, 2012

We’ve been deeply fortunate to have been able to catch the seed stage wave early and work with some of the most dynamic and thoughtful founders in our industry. As a seed investor, we’ve always leaned towards larger rounds in favor of giving our founders at least 18 mo of runway with no revenue.

Seed Stage 61

Seed Stage LP Incubator Venture Capital 61

David Teten

DECEMBER 12, 2017

As a globally focused LP in early stage VC funds, we at Blue Future Partners have observed a growing trend of firms investing substantially in software tools, whether developing proprietary solutions or adopting off the shelf tools. But what tools are they using themselves to automate their own processes?

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Haystack

JULY 20, 2018

I believe this is an important post for both founders and investors in the Bay Area and outside the Bay Area to read carefully. Will the next company to raise $100M in financing just poach from decent seed-stage companies and pay triple the amount to lock up talent? These questions have been rattling around my brain.

San Francisco 116

San Francisco Silicon Valley Seattle Venture Capital 116

Hunter Walker

MAY 7, 2015

Last week Homebrew held its second annual LP meeting, coinciding with our second anniversary as a fund. Comparing Notes About Market Trends: Although Homebrew is still young we’ve definitely seen some changes in the seed stage ecosystem since we started in early 2013.

LP 48

LP Advisory Board Harvest Seed Stage 48

Both Sides of the Table

JUNE 29, 2011

I think Micro VCs are best at what they do, A/B round investors ought to be mostly A/B round investors and late-stage investors out to focus on companies that are already profitable and growing rapidly. The LP Community Hasn’t Yet Caught Up. My best guess is that new LP funds will be set up in the future to service Micro VCs.

Venture Capital 296

Venture Capital Software LP Early Stage 296

View from Seed

MAY 29, 2019

Many of us in the seed stage ecosystem have noticed a shift in the way seed rounds are coming together. Historically, seed rounds were syndicated among several different firms. Today, we are seeing less syndication of seed rounds and sharper elbows among many of the funds in the market.

Syndicate 267

Syndicate Syndication Cofounder Cap Table 267

Hunter Walker

FEBRUARY 25, 2018

“What did you change about Homebrew III to better fit ‘seed phases’ versus seed rounds ?” One consistent LP complaint I hear about new’ish fund managers is that they forget a bunch of fund construction and portfolio modeling decisions are connected. a fellow VC asked me after my previous post. That’s a great question!

Product 82

Product IRR LP Seed Stage 82

Genuine VC

OCTOBER 11, 2011

I hypothesized that, “Perhaps a contrarian statement in this environment: but even though there’s been a dip in fund size due to broad economic factors and LP appetite, it wouldn’t surprise me if the truly top firms raise even larger funds over the coming decade.”

Venture Capital 150

Venture Capital Seed Stage Entrepreneur LP 150

David Teten

MARCH 18, 2021

(co-written with Stephane Nasser , co-founder of OpenVC , an open-source initiative to collect and analyze all VC theses.). OpenVC is a new, open-source initiative to collect and analyze all publicly available VC theses, to help founders more efficiently find the right investors, and vice-versa. Technical founders .

Technical Review 78

Technical Review Cofounder Venture Capital Deal Flow 78

Both Sides of the Table

OCTOBER 18, 2015

I spoke last week at the annual Cendana VC/LP conference. Again, on the surface of things I know this sounds wonderful to entrepreneurs and of course I read all the the tropes about “how VC is dead” and is going to be replaced by a roving band of altruistic former founders sprinkling funding dust on startups.

IPO 150

IPO Venture Capital LP SEC 150