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How’s Venture Capital Changing in 2023

VC Cafe

IRR (on average) over a 15-year horizon, Venture continues to outperform other long-term asset classes. Maybe surprisingly, but emerging managers in particular, outperformed ‘blue chip’ funds from 2004 to 2020. Eze Vidra, Remagine Ventures Venture remains attractive but LPs have been burnt With a 11.5%

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When Entry Multiples Don’t Matter

Ben's Blog

When Salesforce went public in 2004 as a new kind of CRM provider, its S-1 indicated the CRM applications market was $7B. The management teams of both companies may want to be valued at 15x 2020 revenue — in other words, both companies would be worth $300 million. Not too shabby!