Both Sides of the Table

FEBRUARY 6, 2019

Yes, distributions to LPs have been pushed out a few years but the value capture in privates by the best VC firms (and best LPs) has been enormous. On the other hand, the best firms have developed strategies to capture more value while their best portfolio companies stay private.

Venture Capital 292

Venture Capital IPO Mezzanine Early Stage 292

VC Adventure

MAY 5, 2022

In markets like this, funds that deploy quickly generate markups on their full portfolio; those that show more patience suffer from an IRR perspective as a larger portion of their fund is yet to be marked up by subsequent financing rounds. Traditionally LPs have viewed this as positive. management fee). Recycling hurts IRR.

IRR 116

IRR Metrics Valuation LP 116

View from Seed

DECEMBER 11, 2019

But even at the Partner-level, the amount of transition in Venture Capital is much more than you perhaps would expect… especially in a business which should have a long term orientation with portfolio investment-hold periods and Partnerships lasting more than a decade. Venture is a field with a power-law distribution of outcomes.

Venture Capital 204

Venture Capital Cap Table Partner LP 204

David Teten

DECEMBER 3, 2019

However, in private markets, there is more room to optimize across all 11 steps of the investing process: firm management , marketing, fundraising , origination , manage relationships, due diligence, negotiation, monitoring, portfolio acceleration , reporting, and. 1) Manage the firm . This is harder than it sounds.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Feld Thoughts

JULY 28, 2014

On paper, only one is in positive return territory as a fund, but the SBIC leverage is a substantial negative factor for the LP investors in that particular fund. As a partner in one of the most visible VC firms in Colorado and an LP in many of the Colorado VC firms, I’ve never heard from Matthew or anyone from the SBIC.

SBIC 142

SBIC Venture Capital Colorado SBA 142

Hunter Walker

MAY 18, 2015

They provide assistance to Californians in building a vibrant, successful and inclusive society, distributing more than $1.5b Anne Dinneen: Nothing has contributed more to the growth of the Irvine endowment over the years than our venture portfolio. And what leads to adding or removing a fund from Irvine’s portfolio?

LP 48

LP Portfolio Early Stage Institutional Investors 48

David Teten

SEPTEMBER 2, 2017

So I would start by sharing with the fund an institutional LP due diligence checklist , and ask them to share their data room with you. Sean Seton-Rogers, Partner, Profounders Capital, breaks the conversation into three areas: Control: voting/veto for new deals, share of management company. What do you bring to this formula? “.

Private Equity 60

Private Equity Venture Capital Equity Partner 60

David Teten

DECEMBER 12, 2017

(written by Philipp von dem Knesebeck , Managing Partner, Blue Future Partners (bluefp.com, @bluefutureteam ), and David Teten ). Lisa Edgar, Managing Director at fund of funds Top Tier Capital Partners , observed: “It’s not surprising that venture capitalists are using software to help manage their business.

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Haystack

JULY 20, 2018

This is a post I’ve wanted to write for a long time, but I needed the time to digest all the other great posts on the topics by other investors, and to analyze specific portfolio data from Haystack over the last five years. Haystack Portfolio Data. Well, that time has finally come.

San Francisco 116

San Francisco Silicon Valley Seattle Venture Capital 116

Agile VC

JULY 24, 2013

I was having breakfast this morning from someone I know from the LP world. We were talking about what’s “working” in the broader VC ecosystem and this person expressed their enthusiasm that today there are a range of different models that are producing attractive returns for LPs. payday lending).

Valuation 200

Valuation Early Stage Distribution LP 200

This is going to be BIG.

MARCH 3, 2019

We do the work of sorting through the pitch decks of everyone and their mother, finding the diamonds in the rough, helping them turn an idea into something that looks like a company—and we do it for a fraction of the management fees of our later stage counterparts. That creates a tradeoff of paying up for more information.

Portfolio 110

Portfolio Burn Rate LP Distribution 110

abovethecrowd.com

APRIL 20, 2016

These mutual funds “mark-to-market” every day, and fund managers are compensated periodically on this performance. We have already seen examples of founders and management obtaining liquidity in front of investors. Cash distributions are what matter at the end of the day, bug big paper gains still make for good fundraising pitches.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

David Teten

MARCH 18, 2021

Investment theses are just hypotheses; the portfolio shows how accurate the hypothesis was. However, we’d argue that for most smaller managers who are not brand names, it’s better to be highly identified in your niche than being a generalist. Most LPs we speak with agree. . 4) Entrepreneur-defined funds.

Technical Review 78

Technical Review Cofounder Venture Capital Deal Flow 78