David Teten

JANUARY 19, 2021

The value ascribed by subsequent investors (in a secondary); buyers (acquisition); or the public markets (IPO). Seed-stage compatible: Like traditional equity VC investors, Flexible VCs accomodate early-stage investment risk within their portfolios better than a traditional RBI funder. Volatile, uncapped.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

K9 Ventures

AUGUST 14, 2017

It was a conscious decision to maintain the fund size at the same level, despite both market pressure (larger rounds at earlier stages) and demand pressure (lots of LP money entering the stage) to raise a larger fund. Our space, The Kennel, has been home to many of the K9 portfolio companies. was a $40M fund.

Technology 96

Technology LP San Francisco Portfolio 96

Hunter Walker

APRIL 24, 2017

Folks outside of seed stage venture often think “winning” deals is the most important part of being a great investor, but I’d argue it’s “seeing” the best opportunities that’s actually the strongest indicator of future fund success.

Cap Table 71

Cap Table LP Seed Stage Vertical 71

Both Sides of the Table

SEPTEMBER 28, 2011

I spend tons of time each day on portfolio company issues. I spent a late morning meeting with a product exec at one portfolio company. I spent time talking with 2 senior execs who are separately joining two of my portfolio companies. We call these investors “LPs” for limited partners. Marketing.

Email 314

Email Product Term Sheet Portfolio 314

Feld Thoughts

APRIL 23, 2015

A year or two later they had less than 3% market share on mobile. 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. Both Scott and I, on iPhone 1’s or 2’s at the time, told them they were completely and totally f *d.

Advisory Board 70

Advisory Board Venture Capital LP Seed Stage 70

Bryce Dot VC

NOVEMBER 19, 2012

When we set out to raise our first fund in 2005, we began a nearly two year journey involving enormous amounts of educating the market on what a seed fund was and why we felt there was such a compelling opportunity to build a new firm solely focused on this breed of cash efficient startups that make our model work.

Seed Stage 61

Seed Stage LP Incubator Venture Capital 61

David Teten

DECEMBER 12, 2017

As a globally focused LP in early stage VC funds, we at Blue Future Partners have observed a growing trend of firms investing substantially in software tools, whether developing proprietary solutions or adopting off the shelf tools. But what tools are they using themselves to automate their own processes?

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Haystack

JULY 20, 2018

This is a post I’ve wanted to write for a long time, but I needed the time to digest all the other great posts on the topics by other investors, and to analyze specific portfolio data from Haystack over the last five years. Haystack Portfolio Data. Well, that time has finally come. These questions have been rattling around my brain.

San Francisco 116

San Francisco Silicon Valley Seattle Venture Capital 116

This is going to be BIG.

JULY 30, 2015

One of the first things I did when I joined the venture asset class as a lowly institutional LP analyst in 2001 was to build the VC fund cashflow model. so that's what I said my exits would be as a seed stage fund. And those exits would be roughly 10% of the portfolio--about 3 out of every 30ish deals. How about price?

Venture Capital 60

Venture Capital Pre-Money Valuation IRR Valuation 60

View from Seed

MAY 29, 2019

Many of us in the seed stage ecosystem have noticed a shift in the way seed rounds are coming together. Historically, seed rounds were syndicated among several different firms. Today, we are seeing less syndication of seed rounds and sharper elbows among many of the funds in the market.

Syndicate 267

Syndicate Syndication Cofounder Cap Table 267

Hunter Walker

FEBRUARY 25, 2018

“What did you change about Homebrew III to better fit ‘seed phases’ versus seed rounds ?” One consistent LP complaint I hear about new’ish fund managers is that they forget a bunch of fund construction and portfolio modeling decisions are connected. a fellow VC asked me after my previous post. That’s a great question!

Product 82

Product IRR LP Seed Stage 82

Genuine VC

OCTOBER 11, 2011

I hypothesized that, “Perhaps a contrarian statement in this environment: but even though there’s been a dip in fund size due to broad economic factors and LP appetite, it wouldn’t surprise me if the truly top firms raise even larger funds over the coming decade.” More brewers = more sources of capital.

Venture Capital 150

Venture Capital Seed Stage Entrepreneur LP 150

David Teten

MARCH 18, 2021

Investment theses are just hypotheses; the portfolio shows how accurate the hypothesis was. The modal VC thesis is: “We invest in great teams addressing large markets with disruptive solutions” Who invests in lousy teams addressing tiny markets with outdated solutions? Real sees 80% of all seed deals in Canada. .

Technical Review 78

Technical Review Cofounder Venture Capital Deal Flow 78