Both Sides of the Table

MAY 25, 2013

But as an LP you can’t count on that any more than VCs can. The goal of an LP is to get into the top decile. When it went to raise its fund 10 years ago the rumor was that many LPs were disappointed with recent returns and did not re-up. In 2000 our industry had more than $100 billion in LP money. hours / day. .”

LP 374

LP Later Stage IRR Term Sheet 374

David Teten

JANUARY 19, 2021

The value ascribed by subsequent investors (in a secondary); buyers (acquisition); or the public markets (IPO). Marco Cesare Solinas , VC Analyst with Blue Future Partners , said, “ From the LP perspective, another disadvantage is the lack of track record given the early stage of the concept. Yes, typically preferred equity.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

BeyondVC

JUNE 29, 2005

Every year the Dow Jones Private Equity Analyst puts together a show where fund managers can listen to what the LP community is interested in and where they plan on allocating their dollars. In the early morning, a show of hands revealed about a 20% LP audience and 80% fund manager group.

LP 60

LP Private Equity Due Diligence Venture Capital 60

Feld Thoughts

MARCH 20, 2019

Since then, I’ve been a founder of a number of companies, a CTO of a public company that acquired my first company, an angel investor, a VC in two different firms that I helped start, and an LP in a bunch of VC firms. At the time, I didn’t have a sense of what I wanted to do, I just worked incredibly hard.

LP 108

LP Angel Investor Cofounder Leadership 108

Agile VC

FEBRUARY 21, 2012

We recently completed the final close of NextView Ventures, LP and we’re excited about both our progress to date and our plans for the future. The first of these to exit was recently announced, with Groupon’s acquisition of Hyperpublic , though most of the portfolio will continue to build for a long time. February 21, 2012.

LP 100

LP Seed Stage Silicon Valley Limited Partner 100

Both Sides of the Table

MAY 23, 2012

Thomson Reuters data shows that around $10 billion of LP money went into VCs per year pre bubble. By 2000 the total LP commitments had mushroomed to more than $100 billion. LP contributions to VC firms shrunk from 2000 and by 2005-2008 had stabilized to around $30 billion per year. The Funding Problem.

Venture Capital 347

Venture Capital Technical Review LP Mobile 347

David Teten

DECEMBER 3, 2019

Tim Friedman, Founder, PE Stack , said, “If I could offer one piece of advice to today’s managers, it would be to take the time to understand the demands of the modern institutional LP. We are also seeing technology evaluation as an increasingly important part of LP operational due diligence.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Hunter Walker

SEPTEMBER 29, 2022

Most of this discussion is about ‘playing offense’ — working towards being a good steward of LP capital and the risk/reward associated with VC. So for the most part a venture investor holds their equity until the company exits via an acquisition, IPO, or some sort of other liquidity event (management buyout, whatever).

Venture Capital 122

Venture Capital Cap Table LP Equity 122

K9 Ventures

OCTOBER 10, 2017

The first time I used the words “pre-seed” (yes, the initial use was in all lower-case, but then became upper-case over time) was on June 27, 2013, at the K9 Ventures LP Meeting. 6M-$15M used to scale customer acquisition and revenue). Where did the term Pre-Seed come from? Here are the two relevant slides from that meeting.

Seed Stage 82

Seed Stage Finance Later Stage Equity 82

Agile VC

DECEMBER 6, 2012

If Acme Ventures III, LP invests in Startup X then typically Acme Ventures IV, LP would not. 1) LP Bases Change Over Time – Most healthy VC firms tend to have stable relationships with the limited partners investing with them. Or public policy changes may force GPs or LPs to end longstanding relationships.

LP 178

LP Balance Sheet Differentiation Limited Partner 178

Professor VC

SEPTEMBER 24, 2009

I was a limited partner in Angel Investors, LP, Ron Conways fund in the late 1990s. Blink starts with the anecdote of the Getty Museums $10 million acquisition of a rare Greek statue dating from the 6th century BC. Lets get back to the topic of gut investing. I just finished reading Malcolm Gladwells Blink.

San Jose 33

San Jose Angel Investor Venture Capital Mezzanine 33

Agile VC

NOVEMBER 13, 2012

The IPO market remained closed to IT startups, but there were big acquisitions like Google buying YouTube for $1.65B (Fall 2006) and late stage financing rounds for companies like Facebook (Microsoft round at $15B valuation in Fall 2007). Kevin Rose was on the cover of BusinessWeek. So at a fund level (e.g.

LP 154

LP Portfolio Venture Capital IRR 154

www.quora.com

SEPTEMBER 22, 2011

1 vote by Jüri Kaljundi Having been through a company that was a large acquisition (Right M. Even better, executives will negotiate the acquisition price of their company down; in exchange for a larger amount of post-acquisition retentio n equity and accelerated vesting. more) Sign up for free to read the full text. This answer.

Equity 40

Equity Employee Founder Cofounder 40

Austin Startup

JUNE 26, 2019

We tried, and opted out of, potentials for pivots; we pitched for game-changing partners and acquisitions that did not ultimately convert. Even though most of this message was already drafted, we also had a Hail Mary of a final acquisition conversation that closed the following morning. Obviously, it did not convert.

Silicon Valley 54

Silicon Valley Startup B2C Sweat Equity 54

Professor VC

DECEMBER 8, 2015

Both companies were relatively well capitalized, building peer to peer payments businesses and spending a significant amount of their funding on customer acquisition. Luckily, Google was one of the 150 and did ultimately return the fund assuming the LP was smart enough to hold the stock after distribution. At the IPO, Musk held a 14.2%

Merger 28

Merger LP IPO Redemption 28

The Startup Lawyer

JANUARY 6, 2011

Do you look at portfolio companies as future acquisition targets? While we definitely understand that AOL is a large media company and acquisitive, we’re not really involved in those discussions. First and foremost, we have carry in our fund and share in the upside if we earn a financial return for our LP. Not really.

Early Stage 58

Early Stage LP Later Stage Balance Sheet 58

K9 Ventures

DECEMBER 10, 2011

I’ll give the example of the acquisition of CardMunch by LinkedIn. Likewise if you’re an LP, you have to make sure you have reasonable exposure to Valley investments. While I haven’t done a scientific analysis of this (LPs can afford to hire someone to crunch the numbers for them!)

Silicon Valley 124

Silicon Valley San Jose Portfolio Cofounder 124

Professor VC

MARCH 12, 2015

However, when I read the announcement and saw that the acquisition price wasn''t disclosed, alarm bells started going off in my head. If I''m going to pay a fee and carry, would prefer to invest in a venture capital fund, as the investments are being managed by professionals and have a duty to look out for LP interests.

Syndicate 28

Syndicate Syndication Silicon Valley Common Stock 28

K9 Ventures

DECEMBER 10, 2011

I’ll give the example of the acquisition of CardMunch by LinkedIn. Likewise if you’re an LP, you have to make sure you have reasonable exposure to Valley investments. While I haven’t done a scientific analysis of this (LPs can afford to hire someone to crunch the numbers for them!)

Silicon Valley 112

Silicon Valley San Jose Portfolio Cofounder 112

Venture Chronicles

JULY 16, 2010

This outcome is usually selected when an initial survey of the acquisition landscape yields no quick exits and with cash being a depreciating asset the incentive is speed to preserve capital which will be returned to investors.

Due Diligence 28

Due Diligence Term Sheet Limited Partner LP 28

Hunter Walker

SEPTEMBER 2, 2022

We were able to intensely focus on selling to business owners, and they drove all consumer acquisition from within their stores. And it created a digital billboard at the highest value location in a retail store (POS) which we used to market directly to the businesses customers. It was our flywheel. Others can waste cycles debating it.

Chicago 78

Chicago Venture Capital Miami Employee 78