View from Seed

SEPTEMBER 14, 2021

One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Early-stage valuations are up 70%, and late-stage valuations are up 103% (source Pitchbook ). But are we also enjoying a period of unparalleled growth and opportunity led by high-growth technology companies?

Valuation 319

Valuation Pre-Money Valuation Distribution Early Stage 319

View from Seed

SEPTEMBER 14, 2021

One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Early-stage valuations are up 70%, and late-stage valuations are up 103% (source Pitchbook ). But are we also enjoying a period of unparalleled growth and opportunity led by high-growth technology companies?

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295

View from Seed

SEPTEMBER 14, 2021

One thing that jumps out quickly is that TVPI between 2004-2010 (avg 2.6x) has underperformed 2011-2017 (avg 3.0x). Early-stage valuations are up 70%, and late-stage valuations are up 103% (source Pitchbook ). But are we also enjoying a period of unparalleled growth and opportunity led by high-growth technology companies?

Valuation 156

Valuation Pre-Money Valuation Distribution Early Stage 156

This is going to be BIG.

DECEMBER 26, 2011

Election years tend to be good for technology diffusion. 2004 gave us widespread blogging and Meetups, and 2008 showed how the web could be a community organizing and fundraising tool. (PS.there are various companies in this article I have or have had business involvements with. Reader beware.). Open Government.

Technology 116

Technology Valuation Community Restful 116

Both Sides of the Table

JUNE 28, 2010

This lasted from about 2001-2004. Since then Mike his built his career by investing in early-stage companies (seed or series A), which is remarkable given that Polaris Ventures is a $1 billion fund. He says they are just as selective on seed investments as they are in later stage deals. Founded in Sunnyvale, CA in 2001.

San Francisco 230

San Francisco Los Angeles Cofounder SMS 230

This is going to be BIG.

MARCH 30, 2015

Would you be surprised to know that almost half of the dot com companies founded when the boom started in 1996 were still around in 2004--four years after the peak of the NASDAQ? The later stage guys would just have to wait longer for the company to grow into its valuation.

Hockey Stick 60

Hockey Stick Valuation Startup Maryland 60

Both Sides of the Table

MAY 24, 2021

But markets have changed and I think investors, founders and experienced executives who want to join later-stage startups can all benefit from playing the long game. This “overnight success” was first financed in 2004. It literally drove FOMO. Case in point, Procore just went public and is trading at an $11 billion valuation.

Venture Capital 363

Venture Capital LP Valuation Later Stage 363