David Teten

DECEMBER 3, 2019

But in business, you want a lot of partners. In liquid markets, most of the calories expended on technology and analytics are focused on trade selection, or “ origination ”. 1) Manage the firm . Before you can actually invest, you have to manage your fund. I’ve used Asana extensively to manage activities firm-wide.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

David Teten

MAY 16, 2017

Historically, the process of winning capital from limited partners has been opaque. A few years ago, I presented at an Invesco conference on Emerging GPs, and one of the highlights was a presentation by Laurie Weir summarizing CALPERS’ selection criteria under their Private Equity Emerging Manager Program Review.

Private Equity 60

Private Equity Venture Capital Technical Review Equity 60

View from Seed

DECEMBER 4, 2019

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. Over the last 10 years, we’ve been in a bull market with considerable froth in late stage financing activity and valuations. How Have the More Recent Vintages Performed?

LP 256

LP IRR Distribution Portfolio 256

David Teten

JANUARY 19, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. As two fund managers employing Flexible VC, we think it is a healthy addition to the ecosystem and will yield more predictable and stable healthy returns for investors. His work on VC and small communities can be found at greatercolorado.vc/blog.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

David Teten

SEPTEMBER 23, 2017

PEVCTech is partnering with Blue Future Partners to run the first large-scale survey of VCs’ technology stack. Johann Kratzer of Blue Future Partners , a fund of funds, observed, “The majority of the hundreds of funds we’ve diligenced rely predominantly on their relationships to source deals.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

Steve Blank

MARCH 16, 2016

VC’s raise money from their investors (limited partners like pension funds) and then spread their risk by investing in a number of startups (called a portfolio). BTW, Angel investors do not have limited partners, and often invest for reasons other than just for financial gain (e.g., The Deal With the Devil.

Liquidity Event 120

Liquidity Event Founder Liquidation Preference Venture Capital 120

Both Sides of the Table

FEBRUARY 20, 2019

just having a sparring partner with a vested interest in your success can be useful. In 2019 market conditions often are such that founders retain control of the board through the A-round, usually in a 2–1 (common to investor) ratio but sometimes it’s 3–2 (common to investor). If you get a smart person on the board?—?just

Venture Capital 236

Venture Capital Startup Angel Investor Silicon Valley 236

Both Sides of the Table

JULY 23, 2014

15 years ago we were at the peak of Internet hype with the launch of many over-capitalized businesses with a market size & opportunity was limited. The VC market has right-sized (returned back to mid 90′s levels & less competition). But markets value high growth over short-term profitability.

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

thebarefootvc

JULY 3, 2017

Limited partners (LPs), who manage the capital that gets deployed into venture capital funds, can play an important role in diversifying the funding landscape. Limited partners are pension funds, university endowments, funds of funds (who get their money from pension funds), family offices and foundations.

LP 65

LP Technical Review Silicon Valley Limited Partner 65

David Teten

DECEMBER 12, 2017

(written by Philipp von dem Knesebeck , Managing Partner, Blue Future Partners (bluefp.com, @bluefutureteam ), and David Teten ). Based on this paper, Blue Future Partners and PEVCTech recently completed a large-scale survey to find out which tools are most commonly used by venture capital firms.

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Both Sides of the Table

APRIL 2, 2010

It in not uncommon to see a VC talk about “total assets under management&# as in “We have $1.5 billion under management.&# I don’t really understand why VCs do this since it’s mostly a meaningless number. What is total assets under management? - So VCs often raise money every 3-5 years if they can.

Venture Capital 269

Venture Capital Balance Sheet Early Stage Software Review 269

David Teten

JANUARY 11, 2020

The challenge is that my time and money budget for “influencing”–content creation and marketing– is minimal. Also, since I’m not trying to be a full-time marketer, I can’t use some of the standard celebrity techniques. They’re taking a $1m check from me, or giving $5m to me as a limited partner. Tech stack.

Social Media 60

Social Media Technical Review Media Private Equity 60

David Teten

AUGUST 19, 2019

According to Lighter Capital ,“ the RBI market has grown rapidly, contrasting sharply with a decrease in the number of early-stage angel and VC fundings ”. However, many industry experts question the accuracy of early-stage market data, given many startups are no longer filing their Form Ds. of founders raise VC; the other 99.4%

Revenue 60

Revenue Term Sheet Founder Technical Review 60

David Teten

JANUARY 9, 2018

A friend of mine interviewed for a job with massively successful hedge fund manager Steven A. a “Bitcoin Fund”, a “Social Media Fund”, a “Nanotech Fund”), you’re going to raise capital from Limited Partners who are very focused on Theme X. – Thoughtful fund management. – Network. – Reputation.

Venture Capital 60

Venture Capital Private Equity Silicon Valley Differentiation 60

David Teten

JANUARY 9, 2018

A friend of mine interviewed for a job with massively successful hedge fund manager Steven A. a “Bitcoin Fund”, a “Social Media Fund”, a “Nanotech Fund”), you’re going to raise capital from Limited Partners who are very focused on Theme X. – Thoughtful fund management. – Network. – Reputation.

Venture Capital 60

Venture Capital Private Equity Silicon Valley Differentiation 60

Both Sides of the Table

JANUARY 16, 2012

I’ve raised in boom markets and when everybody thought the Internet was a fraud. And I also now have to raise money myself, but this time from bigger institutions that our industry calls LPs (limited partners). Partners make investment decisions. Of course much of it is conflicting. Meet in person.

Developer 366

Developer Silicon Valley PR Las Vegas 366

David Teten

AUGUST 19, 2019

Since 2017 we’ve managed $3 million in revenue-based financing, which helps cash-strapped technology companies grow. In 2019 we partnered with several revenue-based lending providers, effectively creating a marketplace. “. Alternative Capital. “ You qualify if you have $5k+ MRR. Bigfoot Capital.

Revenue 60

Revenue Technical Review Software Review Equity 60

Growthink Blog

MAY 14, 2014

Here’s why: Market Efficiency. The result has been a “regression to the mean” - with alpha performance by fund managers being driven as much by randomness and luck (as it has been with public market mutual funds for decades) as by coherent design. With now over one thousand active U.S. This all costs money. So what to do?

Venture Capital 101

Venture Capital Disintermediation Technical Review Term Sheet 101

Eric Friedman

AUGUST 18, 2021

He is also co-founder and Managing Partner of Deciens Capital, an early stage investment fund. Dan Kimerling: In today’s venture market, any given fund or affirm or an investor has four things that they could focus on: Qualit Consistency Velocity Scale. Today, we are lucky to welcome Dan Kimerling of Deciens Capital.

Silicon Valley 88

Silicon Valley Venture Capital Cofounder Africa 88

David Teten

JULY 25, 2017

We have lower AUM, therefore lower management fees. We think coaching is a key lever for doing this, with our own team or through outside partners. Effectively, we are a market maker between our portfolio companies and the late-stage VCs and large enterprises which are our co-investors. For example, consider public relations.

Portfolio 60

Portfolio Technical Review Private Equity Database 60

VC Cafe

JANUARY 15, 2024

With the IPO window closed, growth funding severely dwindled and multiples down as a result of the public market, unicorns face tough choices in 2024. There’s been a process of ‘right sizing’ in venture and many growth investors played it safe and waited for the market to bottom out.

IPO 88

IPO Valuation Private Equity 88

Both Sides of the Table

JUNE 29, 2017

This brings our combined funds under management to nearly $2 billion. A huge thank you to all of the Limited Partners who have entrusted us with your capital, time and reputations. Upfront’s Base As you probably know we are based in Santa Monica and as my partner Greg Bettinelli coined, we’re #LongLA.

Los Angeles 287

Los Angeles Las Vegas Venture Capital San Francisco 287

Gust

MAY 7, 2014

Ultimately, the company will be either sold to a larger company (at a higher price) or begins to sell shares through the public stock market (“going public” with an “IPO”). In many, if not most, cases, this management fee can significantly exceed the “earned” amount from the “carried interest”).

Venture Capital 154

Venture Capital IPO Limited Partner Carried Interest 154

Both Sides of the Table

SEPTEMBER 23, 2010

Typical questions: What do you think of management? What is their market traction? So is the market really colluding? We discuss things like what the general prices in the market are but not in a price fixing way but in a general commentary way, like “I can’t believe that guy paid 40 pre! At what valuation?

Entrepreneur 292

Entrepreneur Technical Review Stealth Valuation 292

This is going to be BIG.

OCTOBER 5, 2012

They didn't care about you when you needed commercial credit, but now--now they want to manage your money. The problem is that there are fantastic opportunities out there with completely trustworthy managers. You've never dealt with these expensive suit Wall Street types and don't want to. Welcome to family office investing.

LP 97

LP Venture Capital Technical Review Nebraska 97

Both Sides of the Table

OCTOBER 12, 2014

Prorata rights are one of the most important rights of a private market technology investors and yet are seldom fully understood. Because companies are raising way more capital in private markets than they ever did in the past. So the answer is: sometimes they take it, sometimes they don’t. Times won’t always be good.

Technical Review 336

Technical Review Later Stage Early Stage LP 336

Both Sides of the Table

FEBRUARY 25, 2019

I work hard to create working relationships with my fellow non-management board members in the same way that every investor ultimately works to develop strong working relationships with founders. this requires a strong knowledge of market data, employee performance, company performance relative to market and available resources?—?cash

LP 269

LP Startup Burn Rate Stock Options 269

Both Sides of the Table

MARCH 6, 2017

Every year Upfront Ventures surveys Limited Partners (LPs) who are the main source of capital that invests in VC funds and thus the main source of capital that goes to startups to get an early-warning sense of the year ahead, leaving aside any Black Swans. We’re trying to limit our exposure.”

LP 286

LP Silicon Valley Venture Capital Startup 286

Both Sides of the Table

FEBRUARY 6, 2019

Yes, VC / Startup Funding is up Massively If you look at how much VC firms have raised from Limited Partners (LPs) over the past 2 decades you’ll see that we’ve returned to a level that we haven’t seen since 1999. Companies are raising billions of dollars in the private markets and the valuations are enormous PRIOR to the IPO.

Venture Capital 292

Venture Capital IPO Mezzanine Early Stage 292

BeyondVC

JANUARY 5, 2022

We are truly to our founders, limited partners, co-investors, and friends for another year of growth and learning. Ab Gupta , Operating Partner and former VP Strategy & Ops at Kustomer. 1/ We started @boldstartvc in 2010 w/ $1m. We added 3 team members: Ellen Chisa , Founder-in-Residence and former co-founder of Dark.

Stealth 78

Stealth Cofounder SQL Open Source 78

David Teten

AUGUST 18, 2017

Your company typically has seven layers of content marketing. What content do you use in marketing your firm? Your company (or your fund, if you’re a VC) typically has a 7-layer stack of marketing content. At HOF Capital , we try to manage these layers to be “ MECE ” (Mutually Exclusive, Collectively Exhaustive).

Due Diligence 60

Due Diligence Marketing Reputation Social Media 60

Babbling VC

NOVEMBER 2, 2018

You would presume that management would in these situations raise an alarm and make sure that things are addressed before they are irreparable. The same goes for the LP's (limited partners) that invest in venture funds. Internal politics being what they are at companies, most managers go quiet when real trouble starts to brew.

LP 151

LP Limited Partner Management Naming 151

ithacaVC

JANUARY 10, 2012

One of my students just asked me what a “Venture Partner” is in the context of a venture capital firm. I quickly typed in “venture partner” into the Wikipedia query box. So, then I typed “venture partner definition” into the Google search box. No results. Kind of surprised me. Examples: 1.

Partner 49

Partner Carried Interest Caching Harvest 49

Steve Blank

FEBRUARY 3, 2011

I’d known them for years, they were smart, trying to figure out the video game market with me, (in hindsight a business that none of us knew anything about and shouldn’t have been in ,) coached me when needed, etc. Their fiduciary responsibility was to manage a portfolio of investments for their limited partners.

San Francisco 331

San Francisco Silicon Valley Limited Partner Venture Capital 331

VC Cafe

MARCH 27, 2022

Both me and my partner at Remagine Ventures, Kevin Baxpehler, are wrapping up busy weeks. In the panel I moderated on the role of startups in building the new Internet , at Calcalist Mind the Tech 2022, Jay Jubas, a Senior Partner at McKinsey made a clear distinction: Web2 – the Internet as we know it today. link] — jack??

Cofounder 179

Cofounder Venture Capital Equity 179

Steve Blank

JULY 15, 2010

The collapse of the IPO market and dysfunctional math in the venture capital community has stacked the odds against you. VC’s invested their limited partners’ “risk capital” in a portfolio of startups in exchange for illiquid stock. Startup lifecycle in an IPO Market. Here’s why. The Golden Age for Entrepreneurs and VC’s.

Venture Capital 297

Venture Capital IPO Liquidity Event Entrepreneur 297

Both Sides of the Table

NOVEMBER 9, 2014

We all know that funding markets have changed for startups. I am generally a fan for providing management updates periodically for all investors but in doing so you must assume that what you send out will get read by others and thus hold back on your most sensitive information.

SEC 352

SEC Venture Capital Early Stage Cofounder 352