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Praying to the God of Valuation

Both Sides of the Table

The browser and thus the WWW and the first Internet businesses were born circa 1994–95 and there was a golden period where anything seemed possible. I started my first company in 1999 and was admittedly swept up in all of this: Magazine covers, fancy conferences, artificial valuations and easy money. What happened? It was 1991.

Valuation 466
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What Does the Post Crash VC Market Look Like?

Both Sides of the Table

First in late-stage tech companies and then it will filter back to Growth and then A and ultimately Seed Rounds. The market was down considerably with public valuations down 53–79% across the four sectors we were reviewing (it is since down even further). ==> Aside, we also have a NEW LA-based partner I’m thrilled to announce: Nick Kim.

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Why LP’s Passed on Seed Funds 10 Years Ago (And What’s Happened Since)

View from Seed

I’ll be writing a number of posts looking back over the first decade of the life of this firm. Like a number of funds of our era, early fundraising was not terribly easy. The objection goes something like this: “yes, I can see rookie founders turning to you for a seed round. In some ways, this feels like an eternity.

Dilution 399
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The Shift from FOMO to FOLD in Early Stage Investing

View from Seed

This led to a number of repercussions that most VC’s have lamented during this time, including higher prices, larger rounds, shoddy due diligence, and many companies raising large sums of venture capital that probably aren’t suited to VC funding. VCs are always founder focused no matter the market environment.

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8 New Business Keys To Success For Real Entrepreneurs

Startup Professionals Musings

But for founders who do their homework, the cost of entry is lower and the opportunity is higher than ever. Excellent detailed resources are everywhere, including a classic book, “ The Startup Checklist ,” by serial entrepreneur and founder of the New York Angels, David S. Just make sure you can fill in all the details.

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Remind Me Why I Love You? (Why “In Person” is Everything)

Both Sides of the Table

This is a very common scenario when entrepreneurs pitch VCs and frankly is a very common scenario when VCs try to raise money from LPs. It’s predictable, there is no reason to get mad about it and with a well-designed play book you can overcome this much of the time. What do I do now? I call it, “Remind me why I love you again?”

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Kara Nortman Was Just Promoted to Co-Managing Partner at Upfront Ventures. Here’s What it All Means

Both Sides of the Table

and of course a relentless pursuit of helping founders succeed. I’ve become fond of saying “if I had a dollar for every person who told me just how much they loooooved Kara Nortman, I’d have a 10x fund.” So mostly we just had to listen to customer feedback from founders, VCs and LPs. I remember years ago trying to recruit Kara.

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