David Teten

MARCH 14, 2018

Managers of VC funds typically want to grow their business aggressively, just like the founders we back. But, we normally have a clear ceiling on how high we can grow AUM, before hitting practical limits to deploying capital within the traditional VC model. .

Private Equity 60

Private Equity Venture Capital Equity Cofounder 60

Berkonomics

AUGUST 10, 2023

From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering. They tolerate you and your management when the numbers are a bit murky but with an explanation that is believable and correctable.

Liquidity Event 116

Liquidity Event Initial Public Offering Dividend Valuation 116

David Cohen

SEPTEMBER 13, 2019

Further, I thought it would also be appreciated by her more sophisticated high net worth investors, because many of them will have personal financing reporting prepared quarterly by a family office or personal accountant or tax planner. The post Micro-VC fund management and capital account statements appeared first on Hi, I'm David G.

Management 90

Management Limited Partner .Net Finance 90

Both Sides of the Table

OCTOBER 12, 2014

In the old days there weren’t many fights about whether angels would take their prorata rights in financing rounds. People all across the value chain have taken notice including Limited Partners who are the people who invest in VC funds in the first place. Thus begins the dance. That seems fair.

Technical Review 336

Technical Review Later Stage Early Stage LP 336

Eric Friedman

AUGUST 18, 2021

He is also co-founder and Managing Partner of Deciens Capital, an early stage investment fund. As many of your listeners may know, there was an incredible piece published by a gentleman from Founders Fund, discussing Tiger [Global Management] and how they’re focused on the speed and scale business. On Sushi and VC.

Silicon Valley 88

Silicon Valley Venture Capital Cofounder Africa 88

Both Sides of the Table

SEPTEMBER 23, 2010

Asked to respond to the topic, “What collusion happens with AngelList, if any&# I wrote the following: “Um, let’s not be naive here and not think that a “form of collusion&# doesn’t happen on virtually any financing round. Typical questions: What do you think of management? Investors talk to each other.

Entrepreneur 292

Entrepreneur Technical Review Stealth Valuation 292

David Teten

JANUARY 11, 2020

They’re taking a $1m check from me, or giving $5m to me as a limited partner. Other coinvestors: Limited partners, other VCs who are coinvestors, private equity funds which are potential growth-stage investors, etc. Google My Business , which helps me manage my Google presence. . This is hosted by NFX.

Social Media 60

Social Media Technical Review Media Private Equity 60

Both Sides of the Table

FEBRUARY 25, 2019

Here are some observations I have from this exposure: If a company moves from strength-to-strength with predictable outcomes, easy financings, low staff turn-over, limited competitive threats then the composition of the board probably doesn’t matter as much. As an investor board member I see this as my immediate goal, too.

LP 269

LP Startup Burn Rate Stock Options 269

Both Sides of the Table

JANUARY 16, 2012

And I also now have to raise money myself, but this time from bigger institutions that our industry calls LPs (limited partners). Partners make investment decisions. Also recognize that WITHIN a VC you have partners who focus on different areas. I now observes the fund raising process as a profession. Meet in person.

Developer 366

Developer Silicon Valley PR Las Vegas 366

Both Sides of the Table

MARCH 6, 2017

Every year Upfront Ventures surveys Limited Partners (LPs) who are the main source of capital that invests in VC funds and thus the main source of capital that goes to startups to get an early-warning sense of the year ahead, leaving aside any Black Swans. We’re trying to limit our exposure.”

LP 286

LP Silicon Valley Venture Capital Startup 286

Both Sides of the Table

NOVEMBER 9, 2014

Generally speaking in venture capital financings the legal documents will specify that only “major investors” (a threshold set in the agreement – which can be $500,000 investor or more). How party rounds can burn you if it takes time to find your groove. There is a reason for this.

SEC 352

SEC Venture Capital Early Stage Cofounder 352

Steve Blank

FEBRUARY 3, 2011

We were just about to have a board meeting in another week to talk about raising another round of financing to keep our struggling disaster afloat. Their fiduciary responsibility was to manage a portfolio of investments for their limited partners. Our board meetings were collegial and often fun. If you succeed so do they.

San Francisco 331

San Francisco Silicon Valley Limited Partner Venture Capital 331

The Startup Magazine

MARCH 22, 2019

Investment firms are staffed with analysts, partners, and others to ensure deals are soundly vetted. An article in Forbes explains that a venture capital firm makes its money through management fees (a percentage of the amount of capital that they have under management) and carried interest (a percentage of the profits of the business).

Angel Investor 123

Angel Investor Venture Capital Accredited Investor Equity 123

www.xconomy.com

JUNE 9, 2012

Managing Director, Enterprise Partners. In fact, by using analytics software that relies on a different way of measuring risk, the San Diego firm is becoming known in some circles as “the Moneyball of venture capital,” according to David Coats, a co-founder and managing partner. President and CEO, Complete Genomics.

San Diego 40

San Diego Venture Capital Technical Review San Francisco 40

Steve Blank

JULY 15, 2010

VC’s invested their limited partners’ “risk capital” in a portfolio of startups in exchange for illiquid stock. This changed their interest from managing your board for their liquidity to managing the board for all shareholders. They’ve created virtual IPO’s for founders and employees via late-stage private financing.

Venture Capital 297

Venture Capital IPO Liquidity Event Entrepreneur 297

VC Cafe

MARCH 27, 2022

Both me and my partner at Remagine Ventures, Kevin Baxpehler, are wrapping up busy weeks. In the panel I moderated on the role of startups in building the new Internet , at Calcalist Mind the Tech 2022, Jay Jubas, a Senior Partner at McKinsey made a clear distinction: Web2 – the Internet as we know it today. link] — jack??

Cofounder 179

Cofounder Venture Capital Equity 179

Berkonomics

JUNE 15, 2017

From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering. They tolerate you and your management when the numbers are a bit murky but with an explanation that is believable and correctable.

Liquidity Event 97

Liquidity Event Initial Public Offering Dividend Valuation 97

The Equity Kicker

FEBRUARY 28, 2014

I’ve just re-read the a 2012 report by the Kauffman Foundation about the contractual relationship between venture capital funds (often called GPs, short for General Partner) and their investors (often called LPs, short for Limited Partners). Both of these seem very reasonable to me.

Venture Capital 108

Venture Capital Limited Partner Portfolio Partner 108

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. Hypothesis 3: Insufficient diversification in European VC managers’ portfolios . This for me is a no-brainer.

LP 82

LP Europe Germany Venture Capital 82

Both Sides of the Table

FEBRUARY 6, 2017

In case you’re keeping score at home — that’s approximately the size of 65 US seed-stage funds managed by one company. We estimate that the top 5 US tech firms have more than $500 billion in cash sitting abroad and if this is brought back to the US it is likely to increase: R&D expenditure, M&A deals and Venture Capital financings.

Venture Capital 150

Venture Capital Saudi Arabia Kuwait Burn Rate 150

Agile VC

DECEMBER 6, 2012

A little more inside baseball from the VC biz… why VC’s rarely make “crossover” investments, with capital from multiple funds the VC firm manages invested in a single startup (see note 1). I was talking with an entrepreneur recently about this phenomenon.

LP 178

LP Balance Sheet Differentiation Limited Partner 178

David Teten

FEBRUARY 7, 2012

From the point of view of a limited partner, the great challenge is scaling the business. Our finance team acts as an outsourced CFO. If you calculate the dollars under management and divide by the number of Partners, they have one of the lowest ratios of any VC in the US with over $100m in assets.

Early Stage 148

Early Stage Private Equity Portfolio Aggregator 148

Growthink Blog

MAY 23, 2011

The typical wisdom regarding the appropriate financing course for a new company goes as follows: 1. This venture capital financing - usually between $3 and $10 million - is the first of a number of rounds of outside investment over a period of three to five years. There are a lot of dark, hard days.

Angel Investor 112

Angel Investor Venture Capital Sweat Equity Cram Down 112

Both Sides of the Table

MAY 23, 2010

Often when startups who have raised venture capital need another round of financing they will turn to their existing investors to give them money before raising from outsiders. a loan) that is later converted to equity at the time of the next financing. It starts as a debt instrument (e.g.

Startup 290

Startup Burn Rate Warrant Bankruptcy 290

Steve Blank

JUNE 1, 2011

Investors get board seats to assure themselves and their limited partners that they are duly informed about their investment. 3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. There are no standards for what each side (board versus management) does.

Silicon Valley 290

Silicon Valley Business Model Venture Capital Balance Sheet 290

abovethecrowd.com

APRIL 20, 2016

Why the Unicorn Financing Market Just Became Dangerous…For All Involved. All Unicorn participants — founders, company employees, venture investors and their limited partners (LPs) — are seeing their fortunes put at risk from the very nature of the Unicorn phenomenon itself.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Steve Blank

JUNE 1, 2011

Investors get board seats to assure themselves and their limited partners that they are duly informed about their investment. 3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. There are no standards for what each side (board versus management) does.

Silicon Valley 258

Silicon Valley Business Model Venture Capital Balance Sheet 258

K9 Ventures

MAY 14, 2011

They are still individual investors, they invest on a full-time basis as professionals, but they have funds with Limited Partners. The limited partners may themselves run the gamut from individuals, family offices, venture capital funds to institutional LPs. They have 4-10 partners who are investing on their behalf.

Preferred Stock 125

Preferred Stock Seed Stage Incubator Early Stage 125

David Teten

AUGUST 20, 2019

Revenue-Based Investing (“RBI”) is a new form of VC financing, distinct from the preferred equity structure most VCs use. Greater transparency to limited partners. Kim Folson, Co-Founder, Founders First Capital, observed, “RBI financing is more intimate than traditional equity. Potentially could use SBIC financing.

Revenue 60

Revenue SBIC Cofounder Venture Capital 60

Feld Thoughts

JUNE 25, 2015

” Each of our funds is $225 million, we have four partners and no other investment staff, and we work out of the same office we’ve worked out of since we started in 2007. .” These deeply held beliefs tangibly define our values and give us a frame of reference to operate.

Syndicate 70

Syndicate Syndication Limited Partner Finance 70

Babbling VC

NOVEMBER 4, 2011

One partner may have a different appetite for risk in comparison to another. There may be differing opinions about how to manage a portfolio and so forth. I've decided to part ways with my partners. My partners will continue to manage the second and third fund but have put off raising a new one.

Portfolio 70

Portfolio Limited Partner Early Stage Cofounder 70

Austin Startup

MARCH 7, 2021

These are all potential customers and strategic partners for startups. In order for Frisco to achieve its full vision to be a destination city for VC’s, we have to be part of a larger, statewide network to support our partners and entrepreneur support organizations to help advance our collective and common goals.”

Texas 90

Texas San Antonio Houston Dallas 90

This is going to be BIG.

SEPTEMBER 19, 2012

While my company may not have lasted, and even though I swore to myself that I wouldn't do another startup--this recently launched new venture is moving forward with the help of some fantastic partners. million of limited partner commitments--a huge and exciting first step.

LP 112

LP New York City New York Chad 112

Both Sides of the Table

OCTOBER 1, 2009

Sentiment is strong in personal portfolios and up commensurately with VC’s expectations that their last fund will now be worth something (and along with that increase the partners’ personal wealth). The more Machiavellian the manager is the quicker he/she rises. but I’ll save that for post 3/3).

IPO 255

IPO Investment Bankers Venture Capital Marketing 255

Austin Startup

JULY 23, 2010

The company creates the leading software in an enterprise niche called pricing optimization and margin management. The company announced that is just completed $13M in financing from existing investors SMH Private Equity Group, ABS Ventures, Austin Ventures, and Trellis Partners. An item’s price is the price.

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

ithacaVC

FEBRUARY 23, 2012

Luckily, I am not in charge of the internal finance function at our fund. Some VC firms use the art of Level 3 inputs to mark up their valuations, which has a tendency to make limited partners happy. It is the time of year when VC firms do year end valuations for their portfolio company holdings.

Valuation 49

Valuation Institutional Investors Marketing Down Round 49

Berkonomics

JANUARY 27, 2010

From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering. They tolerate you and your management when the numbers are a bit murky but with an explanation that is believable and correctable.

Liquidity Event 67

Liquidity Event Initial Public Offering Dividend Valuation 67