Both Sides of the Table

DECEMBER 11, 2022

2001–2007: THE BUILDING YEARS The dot com bubble had burst. SEEING THINGS FROM THE VC SIDE OF THE TABLE While I was a VC in 2007 & 2008 those were dead years because the market again evaporated due the the Global Financial Crisis (GFC). Until we weren’t. Nobody cared about our valuations any more. The tide has gone out.

Valuation 466

Valuation San Francisco Ratchet Liquidation Preference 466

Altgate

DECEMBER 16, 2010

→ More on Liquidation Preferences Posted on December 16, 2010 by admin A long time ago I had asked a VC about what pre-money valuation he was planning to put in a term sheet he had promised to send over. .&# He said it as a joke, but it is totally true that pre-money valuation is just one of a handful of key economic terms in a term sheet.

Liquidation Preference 39

Liquidation Preference Pre-Money Valuation Term Sheet Valuation 39

Altgate

DECEMBER 15, 2010

@altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← No one wants to tell you your baby is ugly More on Liquidation Preferences → Pre-Money Valuation vs Number of Founders Posted on December 15, 2010 by admin Here’s a chart of the day worth sharing.

Pre-Money Valuation 66

Pre-Money Valuation Valuation Cofounder Founder 66

Both Sides of the Table

APRIL 14, 2010

It’s a bit like if you bought a $1 million home in 2007 and want to sell it for $1 million today. That means that the likely have a minimum of $15 million in liquidation preferences. Liquidation preference is the amount of money that an investor gets paid before the common stock (e.g. But pass they will.

Venture Capital 289

Venture Capital Liquidation Preference Common Stock Dividend 289

Altgate

DECEMBER 16, 2010

@altgate Startups, Venture Capital & Everything In Between Skip to content Home Furqan Nazeeri (fn@altgate.com) ← More on Liquidation Preferences Happy Holidays → Where Do Tech VCs Invest? The data set is about 1,200 rounds of financing for US tech companies that completed the 2010 CompStudy survey.

Liquidation Preference 59

Liquidation Preference Early Stage Venture Capital Later Stage 59

K9 Ventures

JUNE 5, 2015

In that presentation, I said that Seed is not the first round of financing any more and that K9’s investments were mostly “pre-seed”. The early-stage vacuum that existed in 2006-2007 that then led to the formation of “Seed” funds, is oddly enough re-emerging as the Micro-VCs who once dominated this space move upstream.

Seed Stage 48

Seed Stage Venture Capital Early Stage Valuation 48

dondodge.typepad.com

JANUARY 15, 2011

Community is more powerful than money or technology » August 11, 2007 How much equity for investors and employees? It isnt always possible to have a competitive bidding situation at each financing round so here are some guidelines for funding sources and percentages. Should I take Angel or VC money? 5% Managers -.25%

Equity 40

Equity Employee Dilution Valuation 40