LP Portfolio Revenue Seed Stage 
Both Sides of the Table
MARCH 1, 2016
At the Upfront Summit in early February, we had a chance to have many off-the-record conversations with Limited Partners (LPs) who fund Venture Capital (VC) funds about their views of the market. LPs See The Over-Valuations and Don’t Like It. All isn’t completely rosy in the LP views of the venture industry.
Both Sides of the Table
JULY 16, 2010
Consumers pulled their money out of these risky investments, but when LPs make commitments to VC funds they make 10-year, legally binding commitments. So as of 2008 total LP commitments were still at nearly $250 billion. I was at dinner with a large LP and mentioned that I had heard the industry would shrink by 50%.
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David Teten
MARCH 18, 2021
Investment theses are just hypotheses; the portfolio shows how accurate the hypothesis was. Thirty-four VC firms in OpenVC call themselves “early-stage” Yet, 30% of those don’t actually invest in pre-revenue startups. Investment theses are just hypotheses; the portfolio shows how accurate the hypothesis was.
Both Sides of the Table
JULY 23, 2014
The rise of “micro VCs” or seed-stage funds. At the other end of the spectrum large funds have gotten even larger in the past few years which has massively increased the amount of consolidation in our industry as 66% of LP money into venture is now concentrated in late-stage or full-cycle VCs. Why is this?
David Teten
JANUARY 19, 2021
More and more startups are pursuing Revenue-Based VCs , but “RBI” doesn’t fit everyone. Flexible VC 101: Equity Meets Revenue Share. By tying payments to actual revenues, founders and investors remain aligned around the company’s real-time performance, good or bad. Flexible VC: Revenue -based. Of the Inc.
VC Adventure
MAY 5, 2022
In markets like this, funds that deploy quickly generate markups on their full portfolio; those that show more patience suffer from an IRR perspective as a larger portion of their fund is yet to be marked up by subsequent financing rounds. Traditionally LPs have viewed this as positive. management fee). Many will not.
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!
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