Agile VC

MAY 26, 2011

I certainly bear no ill will to the various firms that ultimately passed on our fundraise… as a seed stage VC myself now I can appreciate how hard it is evaluating companies at the earliest stages of development. round which closed in November 2003, and the pre-money valuation between $10 million and $15 million.

Term Sheet 178

Term Sheet Silicon Valley Technical Review Social Network 178

View from Seed

APRIL 30, 2015

” Venture debt gives you those options, and particularly for companies that wind up doing well, then on your same cash-out date, you’d likely have achieved a better milestone thanks to fueling your spend, which would translate into a better valuation. NVV: Let’s talk about the seed stage specifically.

Term Sheet 120

Term Sheet Equity Startup Seed Stage 120

View from Seed

JUNE 10, 2020

The dynamics for participation in the next round’s fundraise syndicate is complex, and many accelerators (and VCs) obfuscate their intentions for self-serving interests. Some prospective seed stage VCs may consider the remaining startups “passed over” and of lesser quality, when in reality great startups take time to mature and blossom. .

Cofounder 177

Cofounder Syndicate Syndication Alabama 177

David Teten

JANUARY 19, 2021

Yes, via conversion rights at a valuation cap. Yes, via conversion rights at a valuation cap. Seed-stage compatible: Like traditional equity VC investors, Flexible VCs accomodate early-stage investment risk within their portfolios better than a traditional RBI funder. Flexible VC: Compensation-based.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

View from Seed

JANUARY 26, 2016

In the next post, I’ll talk about how we think about pre-seeds at NextView. It’s become increasingly common for startups to raise several seed rounds, and this has led to a bifurcation in the seed stage between what are known as “pre-seed” (or “genesis”) and institutional seed rounds.

Seed Stage 120

Seed Stage Early Stage Cofounder Finance 120

Genuine VC

NOVEMBER 12, 2012

When you compromise on terms in the early stages, you will have to pay the price in the later stages. As a seed stage investor here at NextView seeing our companies progress down fundraising paths, I think it’s extremely important to highlight that terms in early rounds do set precedent for terms going forward.

Finance 128

Finance Mezzanine Valuation Seed Stage 128

Gust

OCTOBER 20, 2011

In 2011, the valuation of pre-revenue, start-up companies is typically in the range of $1.5–$2.5 Scorecard Valuation Methodology. This method compares the target company to typical angel-funded startup ventures and adjusts the average valuation of recently funded companies in the region to establish a pre-money valuation of the target.

Valuation 146

Valuation Pre-Money Valuation Intellectual Property Technical Review 146

Agile VC

MAY 21, 2012

There’s also a meaningful cohort of newly public companies that now have valuations of $1B+ who could seriously contemplate an acquisition of $100M+ for stock or cash… Yelp, Zillow, Tripadvisor, Jive Software, Splunk, and others. I co-founded NextView Ventures , a seed-stage VC firm based in Boston, in 2010.

Acquisition 162

Acquisition Silicon Valley B2B Seed Stage 162

Agile VC

JANUARY 27, 2012

There’s lot of anecdotal evidence for this: Seed stage investors (including NextView and many of our peers) are seeing more startups progress from seed to Series A stage in 6-9 months rather than 12-18. Multi-billion dollar valuations for late stage startups like Dropbox, et al. Read More ».

Hockey Stick 113

Hockey Stick Seed Stage Silicon Valley Syndicate 113

Rob Go

AUGUST 26, 2013

What I am finding interesting is watching the way valuations and difficulty of raising has changed for these different flavors of seed rounds. 8+ years ago, the “Institutional Seed” rounds didn’t really exist. This led to a period of seed stage exuberance, and that led to higher valuations, larger rounds, etc.

Valuation 68

Valuation Seed Stage Syndicate Syndication 68

Rob Go

SEPTEMBER 2, 2014

I’ve seen a few cases now where a number of very high-quality institutional investors were interested in investing in a company at valuation, but a non-institutional investor was willing to set terms 1.5 – 2X higher than that valuation. The barriers to scale are higher, but seed funds shouldn’t scale.

Cram Down 66

Cram Down Institutional Investors Dilution Seed Stage 66

Rob Go

MARCH 10, 2012

I think that over time, this is the best way to handle market swings as a seed stage investor who is a) playing in a highly unpredictable part of the market and b) has a very long time horizon. Valuation Discipline. Syndicate diversification. In some seed rounds, we invest mainly with seed investors and angels.

Seed Stage 49

Seed Stage Syndicate Syndication Marketing 49

View from Seed

JUNE 30, 2015

You may actually need to raise a few financing rounds just to get to a series A, so think about the syndicate you are constructing (will they be loyal to you?), A lot of investors have started seed funds because it’s a bit easier to do (requires less capital) and is kind of cool to do right now.

Seed Stage 120

Seed Stage Syndicate Syndication Dilution 120

Agile VC

FEBRUARY 28, 2012

And when I say reservation price I don’t just mean valuation… I mean the broad contours of a round that you’d be willing to do which includes not just valuation but size of the raise, syndicate, etc. I co-founded NextView Ventures , a seed-stage VC firm based in Boston, in 2010. Author howerl.

Early Stage 100

Early Stage Syndicate Syndication Silicon Valley 100

Agile VC

SEPTEMBER 27, 2011

Providence Equity invested $100M at a $1B valuation not because of their technology or product, but because the network owners contributed a lot of valuable content… or at least access to it for 2years. I co-founded NextView Ventures , a seed-stage VC firm based in Boston, in 2010. Filed under Uncategorized. Read More ».

Silicon Valley 100

Silicon Valley Seed Stage Syndicate Syndication 100

Professor VC

JULY 25, 2013

One area I''ve noticed a lot more recently are angel investors and seed stage funds trying to grab a little bit extra, whether it''s warrants for leading the round, advisor shares to go along with the investment, or a common stock stake for just being who they are. Company has now raised over $70 million and is growing rapidly.

Term Sheet 46

Term Sheet Silicon Valley Syndicate Syndication 46

Rob Go

JANUARY 7, 2013

We focus on investing in seed stage companies. We have pretty strong guidelines internally about how much capital we want to invest in a given company, at what valuation, and thus, what ownership we are looking for. Syndicate Composition: NextView + Seed Funds + Angels: 9. Our Focus at NextView. Commerce: 5.

Portfolio 49

Portfolio Seed Stage Cofounder B2B 49

Agile VC

FEBRUARY 2, 2012

Obviously depending when an employee was granted equity, the exercise price they’d have to pay to actually purchase and own these shares outright could be quite high since Facebook’s company valuation grew rapidly. I co-founded NextView Ventures , a seed-stage VC firm based in Boston, in 2010. Read More ».

IPO 100

IPO South Korea Venezuela Revenue 100

www.paulgraham.com

APRIL 28, 2010

Another concept we need to introduce now is valuation. I say "in theory" because in early stageinvesting, valuations are voodoo. As a company gets more established,its valuation gets closer to an actual market value. As a company gets more established,its valuation gets closer to an actual market value. Better how?

Technical Review 76

Technical Review Startup Software Review Angel Investor 76

Genuine VC

JULY 8, 2014

As the VC seed market has institutionalized, especially over the past five years, there has emerged a prototypical seed round profile: $1M-$1.5M The following is a list of somewhat unusual (or at least less common) seed-like rounds.

Early Stage 188

Early Stage Seed Stage Syndicate Syndication 188

Hunter Walker

DECEMBER 21, 2014

17 core investments have been made, I’d say our investment model was, and continues to be, consistent with the type of firm we want to build but if you’re not constantly evaluating how to get better and serve entrepreneurs, you won’t last very long in the early stage venture business. What’s a seed fund to do?

Cofounder 102

Cofounder Seed Stage Syndicate Syndication 102

Both Sides of the Table

OCTOBER 18, 2015

Cendana founder Michael Kim was amongst the earliest and certainly the most focused LP to spot the changes in venture capital leading to seed stage funds and has backed many of the best in the industry so it’s always a pleasure to come and share thoughts with all of these great peers. 25% “down rounds? is pretty pathetic.

IPO 150

IPO Venture Capital LP SEC 150

Agile VC

FEBRUARY 9, 2012

Returns in venture are driven primarily by outlier outcomes, so being a great stock-picker or paying the lowest valuations does you little good if you’re selecting from a pool of mediocre opportunities or if you’re consistently unable to win great opportunities. As Peter Thiel used to say, there is no subprime model for VC.

Seed Stage 100

Seed Stage Framework Silicon Valley Early Stage 100