Version One Ventures

JUNE 3, 2013

So it is time to get some help to manage the fund and I am excited to announce that Version One is hiring an analyst. Helping with reporting for our investors, including writing quarterly updates and preparing LP advisory board meetings. The post We’re hiring an analyst! Looking forward to hearing from you!

Hiring 156

Hiring North America Los Angeles Advisory Board 156

Both Sides of the Table

JUNE 19, 2015

I’ve met many VCs who take fund raising meetings with lots of LPs but struggle to get traction and I believe often the problem is that first meetings are easy but the 28 steps to get each LP to closure take an insane amount of focus, effort, follow through and discipline. Opening is easier than closing.

LP 150

LP Warrant Portfolio Framework 150

Both Sides of the Table

JANUARY 5, 2010

If your idea is so amazing that it warrants my hard-earned angel money or the money of my LP investors from our fund then why should I take a risk on you if you won’t take a risk on yourself? About 18 months ago in early 2008 we hired an analyst (pre-MBA), but wanted to wait until after Summer to hire a post-MBA associate.

Entrepreneur 293

Entrepreneur CTO Hire South America Salary 293

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. Counsel : Being helpful in a structured way – from frequently 1:1s with founders to ‘on demand’ help closing hiring candidates and so on. Commitment : Yeah, that tattoo.

LP 97

LP Cofounder Term Sheet Valuation 97

Both Sides of the Table

SEPTEMBER 22, 2012

Instant growth = huge valuation from follow-on investors = big VC mark-up on our quarterly reports = LP interest. And it launched this author’s career and taught me everything I know about sales, marketing, hiring, firing, fund raising and so on. They want to know that you’re in Twitter, Facebook, Square, Fab and the like.

Silicon Valley 390

Silicon Valley Venture Capital Startup Technical Review 390

Babbling VC

NOVEMBER 2, 2018

The same goes for the LP's (limited partners) that invest in venture funds. If a fund has run it's course and can't raise further capital due to poor performance, the LP's walk away. It just doesn't interest LP's anymore. If you are the one who complains, it's likely that you too are the one who will be blamed for it.

LP 151

LP Limited Partner Management Naming 151

VC Cafe

JULY 4, 2022

Another impact of the meltdown of the public markets is on performance, in LP and VC books which resulted in 68% of funds estimated to have marked down companies in their portfolio. Remote hires represent the majority in the US in H1 2022. Remote hires are now the majority in the US (source: Carta). billion in June 2021.

Venture Capital 167

Venture Capital Valuation Private Equity LP 167

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. interviewing critical hires at a time where they have 3 other offers. Many of the good and great of our industry are talking about AngelList. and much more.

Syndicate 356

Syndicate Syndication Cofounder Early Stage 356

Austin Startup

AUGUST 10, 2017

They helped us establish 2 GP entities, 2 LP entities, and 1 Cayman entity (for international investors) in ~2 months. PPS, you should expect to see a lot more writing from both Tushar and I, as well as our recently hired and soon-to-be-announced research associate. PPPS, we’re also hiring a blockchain engineer.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

Hunter Walker

JANUARY 5, 2014

Oh, your top priority right now is a marketing hire? raising capital, building LP relationships, infrastructure and platform investments, recruiting for firm, budget/audit, evaluating overall firm strategy and performance. Let me go get five great candidates for you! 3) General Relationship Building. Hey, want to grab a coffee?

Software Review 102

Software Review Balance Sheet Cofounder Technical Review 102

Both Sides of the Table

SEPTEMBER 1, 2016

to “Jeez — they sure are hiring a ton of staff. to “How can we hire more staff to keep up with the services they offer?” What’s an LP to do in deciding which funds to invest in? When Andreessen Horowitz as a fund first started the industry went from “We love Ben and Marc” to “they raised how much?” Can that really work?”

LP 264

LP Jordan Cofounder Limited Partner 264

David Teten

JANUARY 23, 2021

For example, one LP told me she prefers customized emails from fund principals, as opposed to a bulk-mailed quarterly update. Either they hire a fund or funds or discretionary advisory firms to create sub-vehicles to explore prospective co-investment opportunities, or don’t have mandates at all.” See Should You Raise A Fund?

Private Equity 78

Private Equity Venture Capital Technical Review Software Review 78

Both Sides of the Table

MAY 25, 2013

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. When it went to raise its fund 10 years ago the rumor was that many LPs were disappointed with recent returns and did not re-up. In 2000 our industry had more than $100 billion in LP money. hours / day.

LP 374

LP Later Stage IRR Term Sheet 374

Both Sides of the Table

APRIL 10, 2016

I laid out the following goals: Hire investment partners with operating experience combined with investment experience and deeply committed to LA Tech, but with strong relationships in SF, NYC and beyond. My first task was to expand the partnership and my first hire was Greg Bettinelli. Yes, she’s worth following, too.

Los Angeles 150

Los Angeles Early Stage LP Partner 150

Feld Thoughts

APRIL 10, 2014

Venture funding goes ballistic: VCJ : Some people are starting to call the top of the current cycle, at least in the context of flows of LP funds into VC firms. We had our LP Annual Meeting yesterday and I had a vibrant conversation with a few of our LPs about this topic at lunch.

LP 126

LP Denver Colorado Government 126

This is going to be BIG.

DECEMBER 3, 2020

Depending on the minimum investment size, if you think about what hiring an actual analyst, or someone more senior, might cost you to look at deals you’re serious about, an investment in a fund could may for itself in access. In a way, that’s like having a free analyst at your disposal. Access to other investors.

Portfolio 134

Portfolio Syndicate Syndication Deal Flow 134

Feld Thoughts

FEBRUARY 7, 2019

During one of the Techstars Boston cohorts where I’ve been Mentor-in-Residence, I worked with a 20-something CEO founder (code named Mary) who, shortly after raising a seed round of several million dollars, hired a high-powered exec, granting a significant equity option. Jay has embraced this responsibility for every Boston cohort since then.

Boston 118

Boston LP Startup Equity 118

Hunter Walker

FEBRUARY 5, 2019

New GPs are hired or grown, and in several cases, the bench strength seems to be there. When they’re done will we have a replacement class of seed firms that (a) stay small and focused, (b) lead rounds, and (c) are institutional LP backed? In others, TBD. In the 2020s will Homebrew be an anomaly?

LP 92

LP Early Stage Syndicate Syndication 92

David Teten

SEPTEMBER 23, 2017

Jaime Hildreth, Managing Director of GP and LP Strategies at Ipreo , informed us that 97% of Ipreo’s GP clients report that data requests from LP’s have increased over the past two years. Over the past few years, ff Venture Capital hired two full-time engineers to build out its internal technology stack, called Totem.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

Feld Thoughts

FEBRUARY 6, 2019

At worst, you may end up affecting their relationships with potential partners or future hiring candidates. He’s an LP in several Techstars funds and a direct investor in a selection of Techstars companies. If you vent to another founder, you either hurt your own reputation or the mentee’s reputation.

Boston 94

Boston LP Reputation Stock 94

Both Sides of the Table

OCTOBER 14, 2015

I spoke at Michael Kim’s excellent annual Cendana VC/LP conference today. But like many companies over the past five years it hired aggressively and probably had some degree of straying off of a core strategy and some amount of excess jobs relative to its current revenue forecasts and opportunities. Here’s my take away.

Burn Rate 150

Burn Rate San Francisco Private Equity LP 150

Babbling VC

NOVEMBER 3, 2013

Developers become interesting people and even friends verses "must hires" who are treated like unicorns. . LP''s.what''s that? You''re not in the Valley (if not based there) three or four times a year at least and couldn''t be bothered. . You actually don''t have the newest Mac/iPad/iPhone/Fitbit/Tesla the day it comes out.

LP 99

LP Portfolio Business Plan Demand 99

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. If you are one of six in the LP relationship area, you will have less leverage than if you are a new hire with the only European LP relationships.

Private Equity 60

Private Equity Venture Capital Equity Partner 60

Babbling VC

JANUARY 7, 2011

Conversely you could blame the LP's (limited partners: the investors in venture funds) and say they are the one's not risking it enough. This leads to founders being able to hire the best people, get subsidiaries in place in the US or elsewhere and grow far faster than their competitors in the EU with far less money.

Finance 76

Finance LP Europe Valuation 76

David Teten

APRIL 13, 2021

Empirically, few small emerging investment managers hire placement agents, particularly in venture capital. And even the firms that hire a placement agent almost always still have to run their own internal process. . Homebrew doesn’t report hiring a placement agent for their Fund I, despite (or because of) a well-pedigreed team.

Private Equity 60

Private Equity Technical Review Management LP 60

David Teten

DECEMBER 3, 2019

Tim Friedman, Founder, PE Stack , said, “If I could offer one piece of advice to today’s managers, it would be to take the time to understand the demands of the modern institutional LP. We are also seeing technology evaluation as an increasingly important part of LP operational due diligence. Fincura specializes in serving lenders.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

The Equity Kicker

JULY 8, 2019

In addition to Platform and Applied Venture strategies, the trend towards hiring ex-operators into partner roles at VC firms can be seen in this light. The GP-LP structure used by most funds is a brake on innovation here too. Value add strategies make partners at VC firms more personally effective.

Portfolio 84

Portfolio LP Venture Capital Partner 84

This is going to be BIG.

NOVEMBER 30, 2011

I've had the privilege of working not only for investors like Josh Kopelman and Fred Wilson, but for an institutional LP that had been invested in venture capital since 1980. There are three ways to learn while working: 1) Work for people who are great at what they do. 3) Build a peer network and get in the flow of best practices.

LP 115

LP Venture Capital Startup Affiliate 115

Bryce Dot VC

FEBRUARY 9, 2016

We’ve provided follow on capital to one of the profitable companies, Fohr Card , to accelerate a few of their hires and anticipate doing the same for others who don’t need, but could benefit from, some additional funding. Prior to our retreat, I attended the VC/LP day of the Upfront Summit.

Los Angeles 40

Los Angeles LP Bootstrapping Revenue 40

Babbling VC

NOVEMBER 28, 2011

You're a VC and LP's can't make up their minds and keep telling you to come back once you can show more? In both directions, hiring needs to go fast. Same as for hiring, you have to be fast when firing. If you're a start-up and that VC is taking forever to make up their mind, cancel them. Go get someone else to invest.

LP 71

LP Valuation Aggregator Venture Capital 71

David Teten

JANUARY 21, 2021

Prasanna Krishnamoorthy, Managing Partner, Upekkha Value SaaS Accelerator, said, “We are the first fund which combines an Angel List rolling fund structure for making LP access widely available, while using the variable VC model of giving founders the option to buy back their equity at a later stage, ensuring founder optionality.

Equity 78

Equity Revenue Cofounder Colorado 78

Rob Go

DECEMBER 13, 2016

” Surprisingly, this isn’t just an LP kind of question, I actually get this a lot from founders or even just friends who are not directly involved in the startup community. One question I get surprisingly often is “how do you find companies to invest in?”

Deal Flow 28

Deal Flow LP Channel Software 28

This is going to be BIG.

JULY 30, 2015

One of the first things I did when I joined the venture asset class as a lowly institutional LP analyst in 2001 was to build the VC fund cashflow model. Toss in a few acqui-hires in the $6-8mm post seed. 20% of the Seeds get acqu-hired at the 6 post. Just about every analyst who looks at fund investing has built one.

Venture Capital 60

Venture Capital Pre-Money Valuation IRR Valuation 60

K9 Ventures

OCTOBER 10, 2017

The first time I used the words “pre-seed” (yes, the initial use was in all lower-case, but then became upper-case over time) was on June 27, 2013, at the K9 Ventures LP Meeting. Where did the term Pre-Seed come from? Here are the two relevant slides from that meeting. They talk about how deal sizes and stages were changing even back then.

Seed Stage 82

Seed Stage Finance Later Stage Equity 82

Both Sides of the Table

JUNE 29, 2011

The LP Community Hasn’t Yet Caught Up. As I’ve started to get to know the other side of the VC industry lately (the people who invest in VC funds or “LPs&# ) one thing has occurred to me. My best guess is that new LP funds will be set up in the future to service Micro VCs. I think some will do this.

Venture Capital 296

Venture Capital Software LP Early Stage 296

Both Sides of the Table

FEBRUARY 24, 2019

Local I feel strongly that you should consider hiring an independent that is local to you. That’s why hiring somebody with some startup experience can really help. This is important because when you have too many VCs on a board you only bring one kind of thinking to the board. Independents are critical to avoiding “VC group think.”

Warrant 187

Warrant LP Cofounder Founder 187

VC Cafe

APRIL 29, 2020

Israel – 500M NIS to cash strapped startups. On the health front, there are signs of recovery.

SBA 124

SBA Technical Review Startup 124