Trending Sources

The Importance of Proprietary Deal Flow in Early-Stage VC

Both Sides of the Table

What stage? I sorted out pretty early that lawyers were a great source of deal flow. We are judging how well you are coached on stage.

Early-stage Regional Venture Funds–part 2 of 3 of Bigger in Bend

Steve Blank

Part 2: Early-stage Regional Venture Funds. What’s Missing Is Early Stage Capital. Regions are missing early-stage capital.

Why Early-Stage VCs Should Be Careful About Intros from Bankers

Both Sides of the Table

What stage? I sorted out pretty early that lawyers were a great source of deal flow. We are judging how well you are coached on stage.

First Half of 2011 Showed Boost in Later Stage VC Deals in Israel

VC Cafe

Seed stage investments are down almost by half, accounting for 3% of investments in the first half of 2011, compared to 5% last year.

Startup Blog: Decisions, Decisions, Decisions ? Second Guessing

Taffy Williams

Keep in mind that you really want to do this sooner than later because the decisions get more complicated as the startup grows. I Did What?

How Can This Be A Billion Dollar Company?

Feld Thoughts

I wish he had called it “This Unicorn Thing Is B t For Early Stage Investing” but I think he’s a little more restrained than I am.

Ten million users is the new one million users

Chris Dixon

Some observations: - Thousands of early-stage consumer web/mobile companies were started and funded in last 24 months. A few breakout early-stage consumer hits (Instagram, Pinterest) have reached tens of millions of users in record time. Hence, many early-stage consumer startups are switching to transactional models. -

Foundry Group Next

Feld Thoughts

During these discussions, we reflected on the incredible collection of early stage VC firms we’ve invested in personally over the years. At the same time we discussed our later stage investment strategy. The strategy has been a good one and with two early exits (Gnip and Fitbit) we’ve already returned significant capital.

What Are Pre-Seed Rounds and Why Do They Exist?

View from Seed

After all, aren’t seed investors (like us) by definition supposed to be the first and earliest-stage investors? Tweet this.).

Later-Stage Pivoting: Preemptive Turnaround Management?

Launching Tech Ventures

by Jesse Garcia The challenges of a later-stage pivot are BIGGER than thoseof an early-stage pivot. Chegg, the online textbook renting platform, is currentlyundergoing a late-stage pivot that builds on its core business into anexpanded market opportunity with a new business model.

The Opportunity / Growth Fund Trend

Feld Thoughts

With yesterday’s announcement that early-stage VC Greycroft has raised a $200 million growth fund , this type of fund has officially become a trend. ” Prior to this, plenty of VC firms invested across the early stage to late stage spectrum from the same fund (e.g. So we raised Foundry Group Select.

Our 2016 Foundry Group Fund and A Little History

Feld Thoughts

We subsequently raised a $225 million fund in 2010 , another one in 2013 , and a late stage fund in 2013. Each is $225 million.

The State of Early Stage in March 2014


They wanted me to talk to them about the state of startup investing, and I chose to present on the state of early stage investing, the area where I do most of my work. The going rate for seed stage startups is generally $5-6M cap on a note, or pre-money, with jumps up to $8-12M. Each day, more and more investors emerge.

Early Stage Haven?

Will Price

Recent numbers suggest that early stage investing may yet prove to be a bastion of IRR and extraordinary returns. Apparently, not in the early stage. In later stage investing, winning is almost always a function of share price. Recent data provides interesting insights into industry dynamics. Thoughts



A VC : Venture Capital and Technology

They all are important at various stages of development. We know that early stage companies require a fair amount of capital to grow into profitable sustainable businesses and we work hard to make sure that we have the staying power that our portfolio companies require from us. VCs raise money in discrete funds.

Early stage boards work for stock options, not cash.


Many early stage CEOs and board members have asked for some guidance regarding pay and time commitments for board members. Pay early stage board members of companies that are not lifestyle businesses one percent of the fully diluted equity in the form of an option that vests over four years of service.

Q316 State of Venture Capital Update With Cooley

Feld Thoughts

It continues to be highly dependent on company, stage, and location. At the early stages, raising the first $2m tends to be straightforward in most geographies that have meaningful startup communities. Most importantly from my frame of reference, the amount of activity at the early and seed stage seems to be extremely robust.

Top 100 venture VC investments each year average $100-150m gain

The Equity Kicker

The dangerous thing for early stage investors is dilution by later stage investors. That’s the Forward Partners way.

European seed fund explosion – what does it mean?

The Equity Kicker

As you can see from the graphs below the number of seed funds is growing very fast whilst the number of later stage funds is flat.

Bigger in Bend, Part 2: Early-Stage Regional Venture Funds

Fresh Inc.: The Staff Blog

as a distribution channel, have vastly reduced the amount of capital a startup needs in the early stage when risk is the greatest.

How I Invest

Both Sides of the Table

During the Q&A I was asked about how I make investment decisions in early-stage businesses. I was asked again in an LP meeting later in the week and then again at a founder breakfast gathering we hosted yesterday. I know that sounds trite but it’s the best way I can describe my early-stage investments.

The VC Market – 2015 and 2016

Rob Go

From the seed stage perspective, what we’ve seen this year is that the definition of a seed round has broadened considerably. While we continue to focus on companies that are very early, usually well before PMF, we also hear of more and more seed funds that “want to see more traction” before investing. This has started to unfold.

Are True Early Stage Investors an Endangered Species?

VC Deal Lawyer

I think we can all agree that early stage investing has changed significantly over the past 10 years and I don’t see it reversing any time soon. This gap straddles two stages of financing - seed stage and early stage. This early stage gap is a problem that desperately needs a solution.

A Five-Minute Tutorial On How To Value Your Startup

Startup Professionals Musings

Future revenue projections are not relevant at the pre-revenue stage. You look like a chump, and probably won’t like their low-ball response.

Can’t attract VC money? Buy a business with private equity

The Next Web

Venture capital firms are typically growth-oriented, early-stage investors looking for these proof-of-concept points before cutting a check.

Some Thoughts On Seed Investing

A VC : Venture Capital and Technology

But it is a bit of a return to form for USV as half of the initial investments in our first fund (USV 2004) were made at the seed stage. In our core early stage funds (as opposed to our Opportunity Funds), we make initial investments at the seed, Series A, and Series B stages. It is called USV 2014. But rarely both.

4 Dirty Secrets VCs Won’t Admit

View from Seed

Dirty Secret #1: An early-stage startup’s design actually does matter. But at the early stages, it’s surprisingly impactful.

How Do VCs Mitigate Risk In Their Investment Portfolios?

Ask The VC

Are VCs simply looking to diversify the type and stage of companies in which they invest, or do they employ other financial hedging strategies? Stage diversification: Some funds have an early stage and late stage investing approach. Question: How do VCs mitigate risk in their investment portfolios?

Outsource things you don’t care about

Chris Dixon

At an early-stage technology company this means you do in house: product design, software and/or hardware development, PR, recruiting, and costumer relations/community management. You probably shouldn’t hire an investment banker during an acquisition unless your company is later stage. startups

PR 49

A Great Discussion with @skupor @davemcclure @msuster on Changes in the VC Industry

Both Sides of the Table

Video 1 is here : Late stage valuations are in a mini bubble. He said that a16z prefers to invest earlier stage in these types of businesses.

Entrepreneurs, Your Funding Strategy will Change When You Start to Engage with Potential Investors

Robert Ochtel

This was a time when venture capitalists and angel investors alike were willing to invest in pre-revenue, early stage companies with a great concept and a first class team. com) early-stage company investing fever, and invested in anything and everything related to the Internet. It’s Not the 1990’s Anymore.

Corporate Acquisitions of Startups: Why Do They Fail?

Steve Blank

Not all new ventures are at the same stage of maturity. For decades large companies have gone shopping in Silicon Valley for startups. So what?

Pre-seed investments work best when there’s a clear plan for short term value creation

The Equity Kicker

Different investors place different weights on the three elements but as a rule earlier stage investors place more emphasis on the team and later stage investors place more emphasis on the market. Some very early stage investors go as far as to say that for them team is everything. Here’s why.

Getting A VC Job

Rob Go

FYI – this is tuned towards an individual who is still in the relatively early stages of their career. So, here it is.

Fund Raising is a Means Not an End

Steve Blank

And at this early stage you’ll be giving up a larger percentage of your firm to investors. Not all that glitters is gold. What is an IRR?

IRR 154

7 Criteria To Help Startups Find The Right Investor

Startup Professionals Musings

In all cases, investors tend to invest in people, more than the idea, or even the stage of execution. Let’s consider some basic definitions.

Chegg is in the process of pivoting—seemingly long after achieving product-market fit in its core business. What are the challenges of managing a later-stage pivot??

Launching Tech Ventures

by Jesse Garcia LATER-STAGE PIVOTING = PRE-EMPTIVE TURNAROUND MANAGEMENT? The challenges of a later-stage pivot are BIGGER than those of an early-stage pivot. Length of the Runway Like in any change situation, the amount of time available to execute a late-stage pivot is very important.

The Authoritative Guide to Prorata Rights

Both Sides of the Table

They often create the biggest tensions between investors who are investing at different stages in the business. These tensions seep out in some angels or seed funds publicly or semi-privately deriding later-stage VCs for their “bad” behavior. I have seen bad behavior from later-stage VCs, believe me.

How Smart Entrepreneurs Select VC / Angel Investors

Startup Professionals Musings

In all cases, investors tend to invest in people, more than the idea, or even the stage of execution. Let’s consider some basic definitions.

Introducing the New-Look NextView + Seed-Stage Startup Platform

View from Seed

We take board seats and want to stand shoulder-to-shoulder with founders at the seed stage to try to make the biggest possible impact. Although the definition of seed is changing, we are focused on being the first institutional investor for an early-stage company, and most of our investments are pre-traction. Who Are We? Period.