Steve Blank

MAY 9, 2017

the wave of semiconductor startups in the 1960’s/70’s, the emergence of Venture Capital as a professional industry, the personal computer revolution in 1980’s, the rise of the Internet in the 1990’s and finally. Venture Capital used to be a tight club clustered around formal firms located in Silicon Valley, Boston, and New York.

Restful 222

Restful Silicon Valley Puerto Rico San Jose 222

Startup Lessons Learned

MAY 31, 2019

Scott Kupor is the managing partner at Andreessen Horowitz, where he’s responsible for all operational aspects of running the firm. He's been with the firm since its inception in 2009 and has overseen its rapid growth, from three employees to 150+ and from $300 million in assets under management to more than $10 billion.

Lean 108

Lean Venture Capital Conversion IPO 108

David Teten

DECEMBER 3, 2019

Private equity and venture capital investors are copying our sisters in the hedge fund world: we’re trying to automate more of our job. . I walk through below how progressive investors are using technology and analytics throughout all of their operations. 1) Manage the firm . This is harder than it sounds.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Both Sides of the Table

JUNE 29, 2011

Yesterday I wrote Part 1 of the series on the changes to the software industry over the past decade that has led to changes in the venture capital industry itself. Open cloud led by Amazon with their AWS services drove total operating costs down by 90%. Some have done earlier-stage deals and done well.

Venture Capital 296

Venture Capital Software LP Early Stage 296

David Teten

MARCH 18, 2021

of venture capital deals. Those companies have garnered only about 2% of all capital invested. However, we’d argue that for most smaller managers who are not brand names, it’s better to be highly identified in your niche than being a generalist. Almost every VC says that they invest in the “best” founders.

Technical Review 78

Technical Review Cofounder Venture Capital Deal Flow 78

Both Sides of the Table

JUNE 28, 2011

In this three-part series I will explore the ways that the Venture Capital industry has changed over the past 5 years that I would argue are a direct result of changes in the software industry, not the other way around. million in team costs to code, launch, manage, market & sell our software.

Venture Capital 334

Venture Capital Software PHP Open Source 334

Steve Blank

APRIL 23, 2014

Most large companies manage three types of innovation: process innovation (making existing products incrementally better), continuous innovation (building on the strength of the company’s current business model but creating new elements) and disruptive innovation (creating products or services that did not exist before.).

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

David Teten

JANUARY 21, 2021

V: Should you raise venture capital from a traditional equity VC or a Revenue-Based Investing VC? VI: Revenue-based financing: The next step for private equity and early-stage investment. GCVF is pioneering the future of venture capital and high growth startups for all small communities. 20% initial ownership.

Equity 78

Equity Revenue Cofounder Colorado 78

Steve Blank

OCTOBER 24, 2017

A founder’s lack of credibility/experience in growing and managing a large company hindered a company that wanted to go public. Replacing the founder when the company needed to scale was almost standard operating procedure. And in later stage rounds an explosion of corporate VCs and hedge funds now want in to the next unicorns.

Founder 245

Founder Technical Review CTO Hire IPO 245

David Teten

FEBRUARY 3, 2014

Prior to joining ff Venture Capital , I published the first-ever study of how private equity and venture capital funds originate new investments, with my coauthor Chris Farmer , CEO of SignalFire and an experienced VC. ff Venture Capital. First Round Capital. Acquirer/ Investor. 2009) [ii].

Private Equity 114

Private Equity Venture Capital Technical Review Equity 114

The Next Web

AUGUST 26, 2013

Today, in steps 10-12 I want to discuss with you raising your first round of money, hiring to develop and maintain your company culture, as well as defining your role in the management of your startup. Stefan Tirtey, Partner at Doughty Hanson Ventures , created this document with Berlin early stage investors.

Management 120

Management Cofounder Startup Bootstrapping 120

VC Cafe

SEPTEMBER 28, 2023

The Carta data showed the following trends: About half of the companies that closed had not raised any venture capital, relying solely on bootstrapping, angel investors, or other sources. For those that did tap VCs, 90% were either Seed or Series A stage companies.

Valuation 103

Valuation Startup Angel Investor Dilution 103

Austin Startup

JUNE 27, 2017

Austin-Based Venture Capital Firms There are a eleven venture capital firms based in Austin that are actively investing today, six of which are first funds. VC Firms Actively investing in Austin Companies Finally, there are a group of venture capital firms that are not based in Austin that are active investors here.

Venture Capital 54

Venture Capital Austin Texas Private Equity 54

Both Sides of the Table

JUNE 29, 2017

I am so proud and humbled to be able to formally announce that Upfront Ventures has raised its 6th venture capital fund in the past 21 years. Upfront VI is our latest core fund and is $400 million to invest in early stage entrepreneurs. This brings our combined funds under management to nearly $2 billion.

Los Angeles 287

Los Angeles Las Vegas Venture Capital San Francisco 287

Both Sides of the Table

FEBRUARY 18, 2017

Union Square Ventures (USV) has been one of the most successful venture capital firms of the past 10–15 years and continues to be a leader in our industry. Fred & Brad aren’t leaving but wanted Andy & Albert to take over management. And so it goes.

Leadership 161

Leadership LP Venture Capital Silicon Valley 161

David Teten

JULY 25, 2017

We have lower AUM, therefore lower management fees. We also have a better known brand than some of our early stage companies, so we can leverage that to help source talent. Effectively, we are a market maker between our portfolio companies and the late-stage VCs and large enterprises which are our co-investors.

Portfolio 60

Portfolio Technical Review Private Equity Database 60

Steve Blank

MARCH 17, 2020

Here are a few thoughts about operating in uncertainty in a pandemic. They have fewer cash reserves and less margin of error for managing sudden downturns. Data from the last large crash in 2008 had seed rounds recovering early, but later stage funding cratered and took years to recover. And what’s in my lifeboat?”.

Burn Rate 436

Burn Rate Startup Valuation Sales Cycle 436

Hunter Walker

JULY 18, 2022

As a result, there’s a lot of incentive to remain a ‘great’ company, which is still venture investable, versus falling into a trough of uncertainty. But you need to remain great and investable while also managing your costs, extending your runway, tightening your operating plan, and so on. Not buying low quality growth.

Valuation 117

Valuation Cap Table Startup Later Stage 117

Up and Running

AUGUST 17, 2015

Between my experiences as a management consultant, as well as my product and marketing roles at multiple tech companies, I felt that I had enough operational experience to make that leap sooner than later. C Corp versus LLC, non-competes, liquidation preferences, preferred versus common stock, and so on).

Entrepreneur 60

Entrepreneur Cofounder Angel Investor eCommerce 60

Seeing Both Sides

AUGUST 28, 2017

Goldman Sachs and CB Insights recently reported that startups have raised over $1 billion in Initial Coin Offerings (ICOs) this summer — more than the total amount of venture capital raised during the same period. Need for growth capital. A company that can successfully raise money in an ICO may never need venture capital again.

Early Stage 20

Early Stage Equity Venture Capital Government 20

Seeing Both Sides

AUGUST 28, 2017

Goldman Sachs and CB Insights recently reported that startups have raised over $1 billion in Initial Coin Offerings (ICOs) this summer — more than the total amount of venture capital raised during the same period. Need for growth capital. A company that can successfully raise money in an ICO may never need venture capital again.

Early Stage 20

Early Stage Equity Venture Capital Government 20

K9 Ventures

JUNE 5, 2015

So while the infrastructure cost and startup costs may have declined, the operating costs have increased. Together this means that Seed stage companies need to run longer and at a higher expense structure, meaning they need to raise a lot more capital. A re-jiggering of deal stages and sizes had begun in 2013.

Seed Stage 48

Seed Stage Venture Capital Early Stage Valuation 48

Growthink Blog

JUNE 28, 2010

Becoming a Limited Partner Investor in a Venture Capital or Private Equity Fund. It is unusual for the typical VC or private equity fund to do more than a few deals/year, and also have a tendency to concentrate their holdings in a single industry or stage of business.

Private Equity 63

Private Equity Technical Review Silicon Valley Los Angeles 63

Growthink Blog

JUNE 28, 2010

Becoming a Limited Partner Investor in a Venture Capital or Private Equity Fund. It is unusual for the typical VC or private equity fund to do more than a few deals/year, and also have a tendency to concentrate their holdings in a single industry or stage of business.

Private Equity 63

Private Equity Technical Review Silicon Valley Los Angeles 63

Both Sides of the Table

MARCH 12, 2013

It was perfect timing since in 2012 GRP raised its fourth fund bringing our total assets managed to nearly $1 billion. His plans are still solidifying but will likely involve some later-stage activities in the eCommerce & retail sectors unrelated to early-stage venture capital. Community builders.

Partner 360

Partner Las Vegas Los Angeles San Francisco 360

Growthink Blog

MAY 10, 2012

You see, equity capital is raised in stages or rounds. The five main stages include the following: 1. Early Stage Investment (Series A & B) 4. Later Stage Investment (Series C, D, and so on) 5. The name is derived from the class of preferred stock investors receive in return for their capital.

Equity 88

Equity Mezzanine Later Stage Venture Capital 88

Up and Running

AUGUST 21, 2017

To put that benchmark in context, the latest estimates place the total number of businesses operating in the U.S. VCs don’t expect any serious corrections to valuations in 2017 and they seem to be taking financial discipline in later-stage companies more seriously, valuing unit economics over “growth at any cost.”.

Silicon Valley 86

Silicon Valley Venture Capital Valuation Later Stage 86

techcrunch.com

FEBRUARY 19, 2010

Researchers polled experts in lending, mezzanine capital, private equity, venture capital and private businesses themselves. Not a big shock, but things don’t look pretty, especially in the venture capital world. 41% of them feel that they qualify for venture capital funding.

Venture Capital 62

Venture Capital Technical Review Sweat Equity Valuation 62

Both Sides of the Table

MAY 25, 2013

“I don’t know the exact math, but I hear it again and again: the top 2% of firms generate 98% of the returns in venture capital.” But the larger funds usually have lower returns because they are often investing bigger dollars at later stages with less risk and therefore lower returns. The second is not.

LP 374

LP Later Stage IRR Term Sheet 374

Austin Startup

MARCH 7, 2021

Other companies, like Blue Origin, Firefly Space and Space X are all conducting operations in Texas, both together with NASA and for their own unique space ventures. in the last four years we’ve seen a 250% increase in venture capital funding and have doubled the number of startup development organizations in our community.”

Texas 90

Texas San Antonio Houston Dallas 90

abovethecrowd.com

APRIL 20, 2016

These mutual funds “mark-to-market” every day, and fund managers are compensated periodically on this performance. In Silicon Valley boardrooms, where “growth at all costs” had been the mantra for many years, people began to imagine a world where the cost of capital could rise dramatically, and profits could come back in vogue.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Both Sides of the Table

NOVEMBER 18, 2012

Maybe I need to do slightly later stage.” Think about it – most entrepreneurs who manage to raise seed money or venture capital usually raise enough money for 12-18 months maximum. So at any given point you are likely operating with a maximum of 9 month’s cash. I want to do this again.

Monaco 420

Monaco Cofounder Chicago Mexico 420

Reid Hoffman

JANUARY 19, 2021

The structural role of a board of directors is corporate governance, specifically, making sure that the company is managed in accordance with the interest of the shareholders (and if liabilities exceed assets, the interest of debtholders), and in compliance with applicable laws and regulations. Or, “Hey, you may not be doing that right.” “Or,

Startup 36

Startup Cofounder Advertising Hiring 36

Both Sides of the Table

OCTOBER 14, 2009

As an entrepreneur you don’t want 5 investors on your board because then board decisions will be more representative of investor concerns than management concerns. Tags: Start-up Advice startup technology vc venture capital. As I’ll explain below, for the most part observers = board members. So here is the rub.

Advisory Board 215

Advisory Board Strategic Investors Venture Capital Later Stage 215

VC Cafe

NOVEMBER 3, 2010

Venture investment in Mainland China during the third quarter rose 32% over the same period last year to $603 million for 64 deals. Thirty-four percent of venture capital investment went to Business and Financial Services companies, which claimed $202 million for 18 deals.

China 74

China Europe North America India 74

Austin Startup

JUNE 26, 2019

With the help of advisors Ada Ryland and Wayne Lopez, we set up data-driven operation to get clarity on what and why we measured?—?and If you’re a founder/product manager/business owner, I encourage you to find that out! and the outcomes. “If If X were true/false, then the whole thing would succeed/crumble”.

Silicon Valley 54

Silicon Valley Startup B2C Sweat Equity 54

A Crowded Space

AUGUST 4, 2011

I’m your host, Marcus, and today we’re talking to Josh Breinlinger, who currently works as a senior associate at Sigma Partners, a venture capital firm in Menlo Park. It’s a management and engineering consulting company in Boston. So, first of all, thank you, Josh, for being on the podcast today. .

Technical Review 60

Technical Review Venture Capital San Francisco Boston 60