Both Sides of the Table

SEPTEMBER 15, 2022

At our mid-year offsite our partnership at Upfront Ventures was discussing what the future of venture capital and the startup ecosystem looked like. When you look at how much median valuations were driven up in the past 5 years alone it’s bananas. Across more than 10 years we have kept the size of our Seed investments between $2–3.5

Technical Review 416

Technical Review Pre-Money Valuation San Francisco Valuation 416

Both Sides of the Table

JUNE 5, 2011

2 preamble issues having read the comments on TC today: 1: I know that the prices of startup companies is much great in Silicon Valley than in smaller towns / less tech focused areas in the US and the US prices higher than many foreign markets. Again, prices are expressed as pre-money valuations. They are pretty illiquid.

Pre-Money Valuation 336

Pre-Money Valuation Valuation Silicon Valley Stock 336

Both Sides of the Table

SEPTEMBER 10, 2021

Today you have funders focused exclusively on “Day 0” startups or ones that aren’t even created yet. They might be ideas they hatch internally (via a Foundry) or a founder who just left SpaceX and raises money to search for an idea. The biggest change for us in early-stage investing is that we now need to commit earlier.

Pre-Money Valuation 471

Pre-Money Valuation Valuation Venture Capital Early Stage 471

Both Sides of the Table

FEBRUARY 15, 2016

There is much talk these days that startup valuations have decreased and may continue to do so and that the amount of time it takes to fund raise may take longer. The earlier the round, the less capital you need and the more reasonable your valuation the less time that is needed generally to raise capital.

Burn Rate 150

Burn Rate Cap Table Valuation Software Review 150

Gust

JULY 23, 2014

You can find this in a number of places, but in a nutshell, I prefer to invest in highly-scalable, technology-based ventures, with a particular focus on platforms, at a very, very early stage (but, oxymoronically, where there is already some type of traction). It’s generally proven amazingly useful to everyone involved.).

Angel Investor 153

Angel Investor Elevator Pitch Pre-Money Valuation Technical Review 153

View from Seed

SEPTEMBER 14, 2021

Warning – this assumes some basic knowledge of VC performance metrics. Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. For a primer, I would recommend refreshing yourself here.

Valuation 319

Valuation Pre-Money Valuation Distribution Early Stage 319

View from Seed

SEPTEMBER 14, 2021

Warning – this assumes some basic knowledge of VC performance metrics. Both early- and late-stage startup valuations are currently elevated. For context, seed-stage pre-money valuations are up 24% from H1 2020 to H1 2021. For a primer, I would recommend refreshing yourself here.

Valuation 295

Valuation Pre-Money Valuation Distribution Early Stage 295