View from Seed

JANUARY 27, 2021

We believe that this fund is the perfect size for us to be the best possible partners to early-stage entrepreneurs today. As a small fund, NextView has a tight-knit LP base, many of whom have been with us from our earliest days. Because of this, we are always grateful to all of our LPs for their trust.

LP 411

LP Early Stage Seed Stage Venture Capital 411

Both Sides of the Table

JULY 16, 2010

Consumers pulled their money out of these risky investments, but when LPs make commitments to VC funds they make 10-year, legally binding commitments. So as of 2008 total LP commitments were still at nearly $250 billion. I was at dinner with a large LP and mentioned that I had heard the industry would shrink by 50%.

LP 311

LP Technical Review Early Stage Silicon Valley 311

Version One Ventures

JULY 24, 2019

These individuals can be entrepreneurs, engineers, PMs, data scientists, designers, creatives, writers, students, etc. The primary responsibility will be to help manage the day-to-day activities of the fund, including: Identifying new and interesting entrepreneurs and companies that align with our investment thesis on network effects.

Technical Review 125

Technical Review Advisory Board Due Diligence LP 125

Both Sides of the Table

SEPTEMBER 22, 2012

And so do entrepreneurs who are quick to pivot to new businesses or to sell in an acquihire. LPs (the people who invest in VC funds) want to know what “hot” deals you’re in. Instant growth = huge valuation from follow-on investors = big VC mark-up on our quarterly reports = LP interest. Grow or die.

Silicon Valley 390

Silicon Valley Venture Capital Startup Technical Review 390

Both Sides of the Table

OCTOBER 12, 2014

But with the massive growth of seed funds being raised and the huge value increase of prorata rights many more LPs have stepped in to take their VC (industry term is GP) position. What would you do as an LP fund if you backed a seed-stage GP who had a position in Twitter, Pinterest, etc. What a second, what about entrepreneurs?

Technical Review 336

Technical Review Later Stage Early Stage LP 336

Both Sides of the Table

MARCH 24, 2014

Getting Exits / Driving LP Returns: This was always the knock on me. “I think the best VCs help drive exits alongside their entrepreneurs. I’ve now been involved with many other successful foll0w-on financings. So I think it’s now fair to rate me at 9/10 on follow-on fundings. The monkey on my back. ” Yup.

Los Angeles 387

Los Angeles Intellectual Property LP Venture Capital 387

Feld Thoughts

MARCH 24, 2017

We also know many of the entrepreneurs in their portfolio. This means FC avoids trends and relentlessly questions entrepreneurs about how their product enables specific use cases and market opportunities. As an LP, I’ve had the good fortune to be an investor in many funds, including some exceptional ones.

Founder 75

Founder LP Technical Review Seed Stage 75

YoungUpstarts

OCTOBER 23, 2017

by Joe Duncan, founder of Duncan Capital LP. Founder of Duncan Capital LP , Joe Duncan is a FinTech entrepreneur, with a strong background in Cryptocurrency and Artificial Intelligence. Fintech is triggering a profound rethink for financial institutions, from retail to investment banking. We need smarter humans than we did.”.

Technical Review 154

Technical Review Artificial Inteligence Software Review IPO 154

Version One Ventures

JANUARY 31, 2024

The first is the fund that you would ideally raise if LP capital was not a constraining factor. Given this, LPs today are focused on the depth of the investing experience of a new GP and any emerging manager should address this heads-on in their deck and LP communications. Things are much different now.

LP 73

LP Differentiation Deal Flow India 73

The Equity Kicker

MARCH 19, 2012

The LP Update Meeting. I’m just back from our semi-annual update to the LPs in one of our funds, and I thought I would share the experience with you all. We have around a dozen LP update meetings a year across our four funds and they are the most important moments of contact we have with our investors. Portfolio update.

LP 97

LP Europe Portfolio Private Equity 97

Hunter Walker

APRIL 27, 2014

Last week we held our first annual LP meeting, when venture funds get their investors together with updates on operations and results. We’ve continued to refine our process so we make best use of entrepreneur’s time and move as fast – or faster – than the market in getting a term sheet to the teams we want to back.

LP 97

LP Cofounder Term Sheet Valuation 97

Both Sides of the Table

SEPTEMBER 29, 2013

I had a chance to discuss AngelList Syndicates with Naval at Michael Kim’s Cendana LP/VC conference on a panel with Naval, Roger Ehrenberg (IA Ventures) and Mike Brown, Jr. It should help some entrepreneurs to better access early-stage capital and should allow some angel investors better access to deal flow. Bowery Capital).

Syndicate 356

Syndicate Syndication Cofounder Early Stage 356

Agile VC

OCTOBER 23, 2012

The VC industry (both the GP part and the LP part) pays attention to the sector’s returns, but the broader tech ecosystem only occasionally tunes in. 2) No Synthetic Alternative – If an LP can’t “buy” VC as an index, could they replicate the returns of an index some other way?

LP 176

LP Accredited Investor Carried Interest Portfolio 176

Feld Thoughts

AUGUST 13, 2020

” I knew Austin from his time at TenOneTen Ventures (we are an LP) and I reconnected with him when he joined the Kauffman Fellows Program (Class 25). Grid110 is a non-profit with a mission is to foster the most thriving, inviting and inclusive community for entrepreneurs in Los Angeles. I’m very looking forward to it.

Los Angeles 178

Los Angeles LP Cofounder B2B 178

David Teten

MARCH 14, 2018

– Build out low-cost force multipliers such as scouts , Advisors, Entrepreneurs in Residence, Venture Partners, and so on. We particularly help companies in winning revenue from our LP network and raising capital for subsequent rounds from top-tier late-stage investors. – Launch a “ venture studio ” or “ foundry ”.

Private Equity 60

Private Equity Venture Capital Equity Cofounder 60

Babbling VC

OCTOBER 3, 2011

For those of you not in the know, they are one of the largest limited partners ( LP's : investors in venture capital funds) in Europe and are basically in almost all the funds throughout the market. Further, a lot of former entrepreneurs are launching their own funds, such as Atomico or very recently Heiko Hubertz in Germany.

LP 82

LP Europe Germany Venture Capital 82

Both Sides of the Table

FEBRUARY 18, 2017

Yves didn’t want to step down — he is still as active as any partner on our team — but he wanted me to take responsibility for: Strategy, recruiting, team development, LP relations, financial planning, etc. He did what every LP did, looked at returns, talked to portfolio companies, talked with our competitors and so forth.

Leadership 161

Leadership LP Venture Capital Silicon Valley 161

Both Sides of the Table

JULY 23, 2014

At the other end of the spectrum large funds have gotten even larger in the past few years which has massively increased the amount of consolidation in our industry as 66% of LP money into venture is now concentrated in late-stage or full-cycle VCs. Why is this?

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Genuine VC

SEPTEMBER 7, 2010

The elite top-tier firms have a sustainable competitive advantage with both entrepreneurs (and LPs alike) given brand, a vast network, and self-reinforcing success. Just like beer drinkers in the 90’s, the best entrepreneurs will have an increasing amount of real choice for their seed-stage funding options.

Seed Stage 191

Seed Stage Belgium Differentiation LP 191

thebarefootvc

FEBRUARY 19, 2014

”, almost exactly 2 years ago to this day at Bloomberg LP’s headquarters in NYC as part of Social Media Week. Many investors and entrepreneurs in the US still have a US-centric view of the world. I gave a talk, titled “What in the World?”, You can view the full presentation here.

India 107

India North America Ukraine Silicon Valley 107

Feld Thoughts

JULY 6, 2016

This prompted me to poke around for other content from the limited partner (LP) side of the LP/VC/entrepreneurship universe. I think the first LP blogger was Chris Douvos who periodically puts up an instant classic post at Super LP. As I continued poking around, I found a few LP firms hosting blogs on their websites.

LP 75

LP Limited Partner Open Source SEO 75

Both Sides of the Table

MAY 25, 2013

After all, I am no stranger to the publicly expressing the frustrations of dealing with the downside of this industry as I wrote about in 2006 when I was an entrepreneur. 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. But VC is like congress. hours / day.

LP 374

LP Later Stage IRR Term Sheet 374

Hunter Walker

JANUARY 5, 2014

At this point we’re doing reference checks and providing names of other founders to the entrepreneurs so they can diligence us (in reality we’ve likely all been asking about each other along the way too). Now I get to experience these moments not as an entrepreneur, technology executive or angel, but as a professional investor.

Software Review 103

Software Review Balance Sheet Cofounder Technical Review 103

Austin Startup

AUGUST 10, 2017

As entrepreneurs, Tushar and I immediately knew that when product-market fit hits you in the head, you jump on it. Joshua Baer is a serial entrepreneur and founder/Executive Director of Capital Factory , the largest coworking space and tech incubator in Austin. We began telling our friends about these investments. Factom, Inc.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

David Teten

AUGUST 15, 2013

Some corporations emulate this model by creating their own wholly-owned VC entities, typically with one LP: the corporate balance sheet. Google provides a directory of resources for startups (both from Google and elsewhere) through their platform Google for Entrepreneurs. SAP also has a dedicated fund for startups using HANA.

Startup 114

Startup Technical Support Venture Capital Balance Sheet 114

David Teten

JANUARY 19, 2021

See Why Are Revenue-Based Investors Investing in Women & Diverse Entrepreneurs? Zack Mueller, Attorney, Ireland Stapleton Pryor & Pascoe, PC , points that almost “no one, from LPs to entrepreneurs to attorneys, has much experience with these instruments. Less established regulatory framework. . Short track record.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Austin Startup

DECEMBER 12, 2017

Cindy Revol, Joe Beard and Anurag Jain from Perot Jain, LP We received a warm welcome from Trey Bowles when we first came to Dallas and there have been many others who have opened their arms to us since. About Capital Factory Capital Factory is the center of gravity for entrepreneurs in Austin, the number one startup city in the U.S.

Dallas 48

Dallas San Antonio Houston Texas 48

Feld Thoughts

JULY 31, 2014

I know many entrepreneurs who feel that VCs have played them, gamed them, deceived them, or bullshitted them. But this doesn’t only happen to entrepreneurs. In addition to being an incredibly supportive investor in us from the beginning, this LP has become an extremely close friend. But is wasn’t always this way.

LP 155

LP Advisory Board Venture Capital Early Stage 155

Both Sides of the Table

MARCH 11, 2014

Last week displayed the best of LA last week for a gala event of all of Upfront’s portfolio companies + the CEOs of many of LA’s top technology companies + 75 VC firms from LA, SF, NY & Boston + 25 LP Funds + the Chairman of Yahoo! Maynard Webb) and the Mayor of Los Angeles, Eric Garcetti. It is not your mom’s old LA.

Los Angeles 318

Los Angeles Silicon Valley LP Warrant 318

Feld Thoughts

JULY 9, 2011

On my run today I was thinking about GP – LP interactions. The interaction was I had with one of my LPs over the last 24 hours. I didn’t know the person, but knew a few people who did, and quickly sent emails getting addition info for my LP. I tried to come up with a rationale for blowing off an LP.

LP 120

LP Email Conversion Entrepreneur 120

Seeing Both Sides

SEPTEMBER 26, 2010

Entrepreneurs needed a lot of money, there were only a few VCs with money (it’s a shockingly small industry, with less than 500 or so active firms, according to the NVCA), and the VCs got to sit back and leverage their position of superior information and insight to choose their deals and drive favorable terms. .

IRR 36

IRR IPO Entrepreneur LP 36

Version One Ventures

JULY 31, 2018

The primary responsibility will be to help manage the day-to-day activities of the fund, including: Identifying new and interesting entrepreneurs and companies that align with our investment thesis on network effects. Reporting for our investors, including writing quarterly updates and preparing LP advisory board meetings.

Hiring 166

Hiring San Francisco Advisory Board Due Diligence 166

Both Sides of the Table

FEBRUARY 4, 2016

” There are a lot of data points that one can observer to get a sense of the venture capital markets – both LP fundings into venture and VC financings of startups. We surveyed 73 LP firms to get their views on the market. “This is the year the tortoise may gain on the hare.” How do I know?

LP 150

LP Valuation Burn Rate Pre-Money Valuation 150

Version One Ventures

SEPTEMBER 18, 2014

Laura and Simon are first-time entrepreneurs and alumni of 500 Startups (Batch 8). Co-founders Laura Behrens Wu (CEO) and Simon Kreuz (CTO) launched Shippo in October 2013 and the company has already seen intense growth since launch.

API 151

API LP Aggregator Europe 151

Both Sides of the Table

SEPTEMBER 1, 2016

As an entrepreneur I never really knew what to make of VC return data. Here’s what I know: Most entrepreneurs I know would love to work with A16Z. Simple: it is value-added for both entrepreneur and co-investor. What’s an LP to do in deciding which funds to invest in? So LPs are investing in potential. Absolutely.

LP 264

LP Jordan Cofounder Limited Partner 264

BeyondVC

JUNE 29, 2005

I am not sure how many entrepreneurs understand the structure of venture capital funds but the bottom line is that while VCs manage funds, we ultimately report to our investors or Limited Partners (LPs). It is not our money, and we have a fiduciary responsibility to manage it properly and generate the returns our LPs expect of us.

LP 60

LP Private Equity Due Diligence Venture Capital 60

Both Sides of the Table

FEBRUARY 18, 2016

To do so we need entrepreneurs who can build companies that scale well in booming markets and also control costs appropriate in correcting markets. Every year we try to write up and publish our thoughts publicly both to help other investors & entrepreneurs and also to test our thoughts in the public market of ideas.

Burn Rate 150

Burn Rate LP Curation Valuation 150