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How’s Venture Capital Changing in 2023

VC Cafe

Taking stock of the venture capital market in 2023, it’s clear to see that we’re in a transition point. And young investors who left careers in banking or consulting to enter venture feel disillusioned – they didn’t think it would be this hard. billion in new funds in the fourth quarter.

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Valuations 101: The Venture Capital Method

Gust

The Venture Capital Method (VC Method) was first described by Professor Bill Sahlman at Harvard Business School in 1987 in a case study and has been revised since. It is one of the useful methods for establishing the pre-money valuation of pre-revenue startup ventures. OK…let’s split the difference.

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What Does the Post Crash VC Market Look Like?

Both Sides of the Table

At our mid-year offsite our partnership at Upfront Ventures was discussing what the future of venture capital and the startup ecosystem looked like. No blog post about how Tiger is crushing everybody because it’s deploying all its capital in 1-year while “suckers” are investing over 3-years can change this reality.

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Fundraising Hacks for Venture Capital and Private Equity Funds

David Teten

I’ve written a number of pieces relevant if you are fundraising for a private equity or venture capital fund – I suggest my presentation on raising capital for tech companies and How to Write a Resume that Wins Investors. Origins is a podcast about Limited Partners, created by VC Notation Capital.

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How is the VC Asset Class Doing?

View from Seed

The longer the portfolio maintains the same value without distributing back cash, the worse the fund’s ultimate IRR. This equates to something in the neighborhood of a 10% IRR, which isn’t great given the illiquidity of the asset class and strength of the public markets. So, is this good or bad?

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Resetting venture capital return expectations: is 10x the new 3x?

Version One Ventures

When I started Version One Ventures in 2012, every experienced VC shared the same rule of thumb: we had to return 3x net consistently to stay in business (i.e. 3x the invested capital net of fees over a period of about ten years for a net IRR in the low twenties).

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Pioneering Women in Venture Capital: Kathryn Gould

Steve Blank

Kathryn has been the founding VP of Marketing of Oracle , a successful recruiter, a world class Venture Capitalist, a co-founder of a Venture Capital firm, a great board member, one of my mentors and most importantly a wonderful friend. The answer of course, was Venture Capital, but that was not in the cards—as yet.