Both Sides of the Table

SEPTEMBER 15, 2022

IRRs work really well in a 12-year bull market but VCs have to make money in good markets and bad. But I thought a better way of thinking about how we manage our portfolios is to think about it as a funnel. So it’s about 20%. This translates to about 12–15 investments.

Technical Review 416

Technical Review Pre-Money Valuation San Francisco Valuation 416

Steve Blank

MARCH 31, 2014

It’s worth noting that everything from the Internet, to electric cars, genomic sequencing, mobile apps, and social media — were pioneered by startups, not existing companies. Third, smart companies manage an innovation portfolio where they can pursue potential disruption in a variety of ways.

Private Equity 325

Private Equity Metrics China Intellectual Property 325

David Teten

JANUARY 19, 2021

Seed-stage compatible: Like traditional equity VC investors, Flexible VCs accomodate early-stage investment risk within their portfolios better than a traditional RBI funder. Tim O’Reilly, CEO, O’Reilly Media, argues , “Blitzscaling isn’t really a recipe for success but rather survivorship bias masquerading as a strategy.”

Cofounder 78

Cofounder Technical Review Equity Dividend 78

David Teten

MAY 8, 2012

As Steve Case has said, it’s ridiculous that anyone can gamble and be guaranteed to lose money, but there are strict regulations around who can invest in early-stage private companies and earn (in some cases) a 27% IRR on their capital. *. The Entrepreneurs Access to Capital Act helps to redress this. Start now! *

Securities and Exchange Commission 148

Securities and Exchange Commission IRR Entrepreneur Angel Investor 148

This is going to be BIG.

DECEMBER 28, 2013

You could argue that the recent companies are too early, so I''ll take that challenge and compare it with my own portfolio. My total valuation multiple across that span is nearly 4x and the return rate is up over 110% IRR. The media needs to do it''s part, too. That''s 25%.

Venture Capital 152

Venture Capital Cofounder IRR Dilution 152

Both Sides of the Table

MAY 24, 2021

Silicon Valley and the media industry that surrounds it values youth. Since funds were driven by extreme successes in their portfolios where just one deal could return 5x the entire fund while 95% of the fund may have done well but not amazing, not missing out on deals was critical. It literally drove FOMO. The second “exit”?—?Adly?—?innovated

Venture Capital 363

Venture Capital LP Valuation Later Stage 363

K9 Ventures

MAY 14, 2011

In my view the terminology being used for early stage investors by the press and the media is not as clear as it should be. He or she doesn’t have a “day-job” but spends all of his or her time in evaluating new investment opportunities or working with portfolio companies.

Preferred Stock 125

Preferred Stock Seed Stage Incubator Early Stage 125