View from Seed

DECEMBER 11, 2019

Building a venture capital firm isn’t about continuing to scale talent aggregation over time like most businesses, rather it’s about having a consistent right amount of talent and scaling AUM over time. A corollary to that conclusion is that if an individual is able to persist through a long cycle, their tenure then becomes self-reinforcing.

Venture Capital 204

Venture Capital Cap Table Partner LP 204

ithacaVC

DECEMBER 14, 2011

Specifically, “too much” liquidation preference (I will use “LP” for liquidation preference). As most of you probably know, LP is one of the fundamental economic attributes of preferred stock that preferred shareholders enjoy. Series B round = $5mm and the Series B preferred stock is participating with a 2x LP.

Liquidation Preference 49

Liquidation Preference LP Preferred Stock Liquidity Event 49

David Teten

MARCH 2, 2013

He surmises that LPs aren’t buying the argument that large funds don’t perform. Beyond the fact that LP capital commitments don’t prove anything about returns, however, large funds are likely much more resilient to a few bad years than small funds are. But why would any LP ever drop out of such a fund?

LP 114

LP Securities and Exchange Commission Silicon Valley Venture Capital 114

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

Babbling VC

NOVEMBER 28, 2011

You're a VC and LP's can't make up their minds and keep telling you to come back once you can show more? billion in aggregate. If you're a start-up and that VC is taking forever to make up their mind, cancel them. Go get someone else to invest. You don't have any other options and no one else is interested? Well, you probably suck.

LP 71

LP Valuation Aggregator Venture Capital 71

K9 Ventures

OCTOBER 10, 2017

Typically, Pre-Seed rounds are less than $1M in aggregate capital raised. 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. Q: What amount of financing is considered Pre-Seed? Q: Is Pre-Seed a Thing?

Seed Stage 82

Seed Stage Finance Later Stage Equity 82

View from Seed

OCTOBER 29, 2014

The nature of LP investors can vary widely, but the bulk of the capital in the VC ecosystem comes from large institutions like pension funds, endowments of universities and hospitals, charitable foundations, insurance companies, very wealthy families (aka family offices), and corporations. Insurance Companies. Advisory Firms.

LP 335

LP Private Equity Institutional Investors Venture Capital 335

David Teten

DECEMBER 12, 2017

As a globally focused LP in early stage VC funds, we at Blue Future Partners have observed a growing trend of firms investing substantially in software tools, whether developing proprietary solutions or adopting off the shelf tools. But what tools are they using themselves to automate their own processes?

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Both Sides of the Table

JUNE 29, 2011

The LP Community Hasn’t Yet Caught Up. As I’ve started to get to know the other side of the VC industry lately (the people who invest in VC funds or “LPs&# ) one thing has occurred to me. My best guess is that new LP funds will be set up in the future to service Micro VCs. I think some will do this.

Venture Capital 296

Venture Capital Software LP Early Stage 296

David Teten

JUNE 1, 2011

Deal aggregation websites Increasing in popularity, trying to increase market efficiency. Teten question: What will the impact be of deal aggregating websites (Axialmarket, MergerID, PE-Nexus, PEGBASE, CapitalSphere, DealMarket, BizBuySell,) on the investment banking industry? Zubin Avari, Charter Oak Equity LP Christopher A.

Private Equity 122

Private Equity Deal Flow Equity Developer 122

Agile VC

OCTOBER 29, 2014

The nature of LP investors can vary widely, but the bulk of the capital in the VC ecosystem comes from large institutions like pension funds, endowments of universities and hospitals, charitable foundations, insurance companies, very wealthy families (aka family offices), and corporations. Insurance Companies. Advisory Firms.

Venture Capital 279

Venture Capital LP Private Equity Institutional Investors 279

Agile VC

NOVEMBER 13, 2012

a VC fund’s entire portfolio in aggregate, net of management fees and carried interest) a good return from an LP’s perspective would be 2.5-3.0x So at a fund level (e.g. typically, which in most cases would to >20% IRR.

LP 154

LP Portfolio Venture Capital IRR 154

abovethecrowd.com

APRIL 20, 2016

Many have noted that the aggregate shareholder value created by all of the Unicorns will vastly overshadow the losses from the inevitable failed unicorns. Moreover, deep down most LPs know that performance in the VC sector is counter cyclical to the amount of money raised by VCs. If you over-fund the industry, aggregate returns fall.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

VC Cafe

JULY 6, 2010

Looking at the aggregated list gives a quick sense of what funds are actively making investments. Ziegler Meditech Equity Partners, LP Buyer Funds: 7.97. Ziegler Meditech Equity Partners, LP Buyer Funds: 3. Worth noticing that Battery Ventures and Sequoia are picking pace amongst the foreign funds and Carmel and Gemini.

Private Equity 99

Private Equity Venture Capital Equity 99

VC Cafe

JULY 6, 2010

Looking at the aggregated list gives a quick sense of what funds are actively making investments. Ziegler Meditech Equity Partners, LP Buyer Funds: 7.97. Ziegler Meditech Equity Partners, LP Buyer Funds: 3. Worth noticing that Battery Ventures and Sequoia are picking pace amongst the foreign funds and Carmel and Gemini.

Private Equity 99

Private Equity Venture Capital Equity 99

Start Up Blog

APRIL 29, 2013

Like most politically important information, consumers will eventually get to be in control of their own aggregated data. Maybe it is the soft crackle of an LP record that has enabled vinyl LP sales to increase year on year for the past 19. The final question is what happens to our data when we die?

Uruguay 123

Uruguay Technical Review Vertical Las Vegas 123

Both Sides of the Table

MARCH 6, 2017

This is key because in a permanently low-interest-rate environment parking large pools of capital in assets that benefit from interest is not possible so LPs seek “higher yield.” Here is the entire survey, which can also be downloaded and shared. If you need the original keynote slides for any reason — just ask.

LP 286

LP Silicon Valley Venture Capital Startup 286

Startup Lessons Learned

MAY 4, 2021

It kind of aggregates technology content, I suppose. Due to their bylaws and LP agreements and things, they can only hold public securities, like in the traditional sense. How did it come on your radar for the first time? And yeah, I was just home for the holidays at my parents' house. Sometimes companies do a dual listing, right?

IPO 113

IPO Cofounder Technical Review Government 113