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

Version One Ventures

JULY 31, 2018

Since 2012, we have made over 40 investments and have been busy building our fund, expanding and deepening our network, and most gratifyingly, working with our portfolio companies in their pursuit to transform their industries and the world. Executing projects of your own direction that help Version One and/or our portfolio companies.

Hiring 166

Hiring San Francisco Advisory Board Due Diligence 166

David Teten

SEPTEMBER 23, 2017

I’ve primarily seen quantitative analytic techniques used in origination , filtering , and in portfolio company recruiting , but technology can be used throughout the nine steps of the private company investing process: The 9 Steps of the Private Company Investing Process. 8) Accelerate portfolio company value. 9% (1 / 12).

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

Austin Startup

AUGUST 10, 2017

This means that private keys — the keys that literally control the money — never touch the Internet. 3) Rebalancing — we rebalance portfolios monthly. They helped us establish 2 GP entities, 2 LP entities, and 1 Cayman entity (for international investors) in ~2 months.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

Both Sides of the Table

MARCH 11, 2014

Last week displayed the best of LA last week for a gala event of all of Upfront’s portfolio companies + the CEOs of many of LA’s top technology companies + 75 VC firms from LA, SF, NY & Boston + 25 LP Funds + the Chairman of Yahoo! And I’m proud of that, too.

Los Angeles 318

Los Angeles Silicon Valley LP Warrant 318

VC Cafe

JULY 4, 2022

Another impact of the meltdown of the public markets is on performance, in LP and VC books which resulted in 68% of funds estimated to have marked down companies in their portfolio. For example, Klarna is rumoured to be raising $650M in fresh capital at $6.5 billion valuation, according to the WSJ, down from $45.6 billion in June 2021.

Venture Capital 167

Venture Capital Valuation Private Equity LP 167

Both Sides of the Table

FEBRUARY 6, 2019

If you get into the best deals it has never been a better time to be a VC or LP, and the best have developed strategies to capture more value Given that the best deals are pushing out their exit dates it means that many firms aren’t seeing as quick of liquidity as they might have 20 years ago. And this is about to grow even faster.”

Venture Capital 292

Venture Capital IPO Mezzanine Early Stage 292

Version One Ventures

JUNE 3, 2013

Helping with reporting for our investors, including writing quarterly updates and preparing LP advisory board meetings. Working with existing portfolio companies, including helping out with hiring, financial modeling, and research. Executing projects of your own direction that help Version One and/or our portfolio companies.

Hiring 156

Hiring North America Los Angeles Advisory Board 156

David Teten

DECEMBER 3, 2019

However, in private markets, there is more room to optimize across all 11 steps of the investing process: firm management , marketing, fundraising , origination , manage relationships, due diligence, negotiation, monitoring, portfolio acceleration , reporting, and. Other VCs use Contently * or Social Native * to create relevant content.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

YoungUpstarts

NOVEMBER 18, 2018

Other ways that patents can be added to your financial portfolio is through acquisitions – in plain English, buying up other people’s patents. This is typically a way of adding additional intellectual property to a patent portfolio (collection of multiple patents). Along with the AI expect faster access to the internet.

Intellectual Property 138

Intellectual Property Forecast LLC Acquisition 138

The Equity Kicker

JULY 8, 2019

From around 2000, and perhaps coinciding with the need to work harder to win deals as opportunities dried up after the internet bubble burst, individual partners at VC firms began adding ‘helping CEOs win’ to their job descriptions. . The most visible symptom of this trend was VCs writing blogs to show just how value add they were.

Portfolio 84

Portfolio LP Venture Capital Partner 84

Agile VC

FEBRUARY 21, 2012

We recently completed the final close of NextView Ventures, LP and we’re excited about both our progress to date and our plans for the future. We make initial investments of $250-500K in the seed rounds of software and internet startups and reserve capital for follow-on rounds. AGILEVC My idle thoughts on tech startups.

LP 100

LP Seed Stage Silicon Valley Limited Partner 100

Both Sides of the Table

MAY 23, 2012

Thomson Reuters data shows that around $10 billion of LP money went into VCs per year pre bubble. By 2000 the total LP commitments had mushroomed to more than $100 billion. LP contributions to VC firms shrunk from 2000 and by 2005-2008 had stabilized to around $30 billion per year. The Funding Problem.

Venture Capital 347

Venture Capital Technical Review LP Mobile 347

ithacaVC

FEBRUARY 13, 2013

Someone who negotiates carry yet never sees a return, fights for attribution, tames cantankerous LP side-letter requests…. It had to be somebody who’d know-it-all-social, mobile, cleantech and greentech or the “internet of things”. Yet gentle enough not to squish dreams of MBA students. So, God made a VC! So, God made a VC!

Liquidation Preference 55

Liquidation Preference IRR Due Diligence LP 55

Agile VC

JULY 19, 2012

Back in the 2000-2001 timeframe, a flood of LP capital was coming into the VC asset class given the strong returns of the mid-late 90s tech boom/bubble. In the midst of the internet & telecom meltdown at the beginning of the 2000s, as a firm CRV realized there were insufficient opportunities to profitably invest $1.2B.

Cofounder 193

Cofounder Limited Partner Early Stage LP 193

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. Or that it would have worked great if only the Internet bubble hadn’t collapsed. 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

thebarefootvc

MARCH 8, 2012

While the initial fund is $120M we will have access to ru-Net’s (the Russian LP) $700M of capital to support growth of portfolio companies and opportunistically invest at later stages where we can add value beyond capital. With RTP, I plan to help portfolio companies across the US access the fast growing emerging markets.

Silicon Valley 69

Silicon Valley Ghana Venture Capital India 69

Both Sides of the Table

JANUARY 16, 2012

There is all sorts of advice on the Internet about how to raise capital. I’ve raised in boom markets and when everybody thought the Internet was a fraud. But the short answer is that the best intro is from a portfolio company of that VC or by other entrepreneurs whom that VC respects. Of course much of it is conflicting.

Developer 366

Developer Silicon Valley PR Las Vegas 366

Both Sides of the Table

JUNE 8, 2014

The “Infrastructure Phase” of the Internet … Before we had an Internet startup explosion we needed infrastructure which spawned the original tech startup community in Silicon Valley. The “Three C’s” of the Internet … The infrastructure and web services phases of the Internet are built.

Silicon Valley 390

Silicon Valley Kansas City Startup Venture Capital 390

Both Sides of the Table

MARCH 30, 2016

They either had a portfolio company in market and weren’t getting offers as quickly as expected or they knew a friend in the biz who was recounting this to them in a session VCs strangely call “comparing notes.”. But I’d say there are a few more gray hairs around the table.

Balance Sheet 150

Balance Sheet Burn Rate Valuation Forecast 150

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

The Startup Lawyer

JANUARY 6, 2011

Sure – AOL Ventures is the VC arm of AOL , focused on early stage investing in consumer internet businesses. We’re just through our first year and pleasantly surprised with where we’re at – Rather than single anyone out you can see a full list of our announced portfolio companies and other relevant investment information on CrunchBase.

Early Stage 58

Early Stage LP Later Stage Balance Sheet 58

David Teten

MARCH 18, 2021

Investment theses are just hypotheses; the portfolio shows how accurate the hypothesis was. Foundry Group, investing primarily in “ Software and Internet ”, follows six major themes, e.g., Human Computer Interaction (HCI) or Distribution. Investment theses are just hypotheses; the portfolio shows how accurate the hypothesis was.

Technical Review 78

Technical Review Cofounder Venture Capital Deal Flow 78