The Next Web

SEPTEMBER 13, 2013

The final piece of my four-part guide to expanding a business into Asia is tailored more towards local startups and a big issue that affects many of them: raising funding from investors. Asia has far fewer VC firms and institutional investors, each of which invests a far smaller amount of capital.

Asia 132

Asia Silicon Valley India Term Sheet 132

Rob Go

OCTOBER 14, 2012

One of the earliest things we did at NextView when my partners and I started working together was go away as a team to the New Hampshire mountains. It’s commonly said that the biggest risk facing a new VC firm is disharmony among the partners. OUR PORTFOLIO. I’ve done little portfolio overviews from time to time.

New Hampshire 50

New Hampshire Croatia Omaha Portfolio 50

The Equity Kicker

FEBRUARY 9, 2016

The consensus is definitely negative, but one thing that has buoyed my optimism about the prospects for our portfolio is the number of new funds raised in London recently. A lot of them are focused on Series A investing and favour the ecommerce and marketplace sectors that Forward Partners focuses on.

Marketing 60

Marketing Institutional Investors Venture Capital Later Stage 60

Both Sides of the Table

OCTOBER 1, 2009

In my previous post, The VC Ice Age is Thawing (for now) I wrote about the reasons why the VC market came to a screeching halt in September 2008 and remained largely shut until at least April 2009. There are now signs the VC market has gathered pace meaning it’s a great time to be fund raising. This is one book-end of the cycle.

IPO 255

IPO Investment Bankers Venture Capital Marketing 255

David Teten

DECEMBER 3, 2019

But in business, you want a lot of partners. In liquid markets, most of the calories expended on technology and analytics are focused on trade selection, or “ origination ”. I walk through below how progressive investors are using technology and analytics throughout all of their operations. 2) Market .

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

David Teten

JULY 12, 2017

When I meet with other VCs, family offices, and other institutional investors, the most common question I get is: “What are the highest-potential companies in your portfolio which are raising now?” We see our potential coinvestors in four primary buckets: 1) HOF Capital ’s own limited partners.

Syndicate 60

Syndicate Syndication Institutional Investors LP 60

Hunter Walker

JUNE 29, 2014

I’m suprised how many founders – even multiple time entrepreneurs – are unfamiliar with the institutional investors that back most of the major venture funds. The increase in content marketing by VCs means there’s lots of information being put out there for founders to read.

Founder 99

Founder Institutional Investors Silicon Valley Portfolio 99

The Startup Magazine

FEBRUARY 6, 2020

Pension funding was above market using aggressive actuarial assumptions. s form of no-holds-barred capitalism, our financial markets were slow to adopt the idea, with the trend really only taking hold during the heady securitization period of the mid-2000’ s. municipal bond market. Unions often cast an outsized presence.

Private Equity 132

Private Equity New York City Chicago Investment Bankers 132

David Teten

JANUARY 23, 2021

I’ve been fortunate to be a Partner at two different VC firms over the past 9 years, and we’ve grown AUM 10X both times. If you take the fifteen steps below, you’ll have the core of a high-performing fundraising and investor relations function. . Build the firm as much as possible before you solicit limited partners. .

Private Equity 78

Private Equity Venture Capital Technical Review Software Review 78

Rob Go

JANUARY 7, 2013

This is why I’ve made a habit of profiling our portfolio quantitatively and why we write summaries announcing pretty much all of our new investments. So, here is our annual quantitative summary of our portfolio. This equates to 3-4 investments that are “led” internally by each partner. This isn’t a quota.

Portfolio 49

Portfolio Seed Stage Cofounder B2B 49

ithacaVC

FEBRUARY 23, 2012

It is the time of year when VC firms do year end valuations for their portfolio company holdings. Yes, large institutional investors use the unrealized values and need them for reporting purposes. Some VC firms use the art of Level 3 inputs to mark up their valuations, which has a tendency to make limited partners happy.

Valuation 49

Valuation Institutional Investors Marketing Down Round 49

David Teten

APRIL 7, 2017

This is the debut of an annual series of summits focused on sovereign wealth funds, institutional investors, family offices, venture capitalists, and entrepreneurs interested in technology-driven entrepreneurship and with ties to the Middle East and North Africa (MENA) region. The summit is hosted by: – ABANA – the preeminent U.S.

New York 60

New York Africa Cofounder Egypt 60

Hunter Walker

MAY 18, 2015

The James Irvine Foundation joined us in Fund I and has been a great partner since. Anne Dinneen: Nothing has contributed more to the growth of the Irvine endowment over the years than our venture portfolio. These managers sit in our Privates bucket and are therefore expected to beat the public markets by at least 4.5%.

LP 48

LP Portfolio Early Stage Institutional Investors 48

David Teten

AUGUST 21, 2019

A company with that mindset is dramatically less risky, because it’s not dependent on the financing markets for continued viability. Borchers notes, “There are tons of good, short-term working capital products in the market already (factoring solutions, MRR loans, AR financing, etc.), But this isn’t really a problem.

Revenue 60

Revenue Liquidation Preference Equity Cofounder 60

Hunter Walker

APRIL 27, 2014

Here’s what we covered – it’s a bit inside baseball but just as with the funding post linked above, we think exposing the mechanics of venture can help entrepreneurs and future investors (plus, we learn a lot from any resulting discussions). There are several Homebrew investments going to market for their Series A this year.

LP 97

LP Cofounder Term Sheet Valuation 97

K9 Ventures

MAY 14, 2011

This in theory is very similar to the behavior of institutional investors, however, there is one big difference. Institutional investors make sizable investments in a company, so that when they do get a big hit that can make the whole fund. Institutional Venture Funds : aka your friendly neighborhood traditional VC fund.

Preferred Stock 125

Preferred Stock Seed Stage Incubator Early Stage 125

Austin Startup

DECEMBER 6, 2010

Austin Ventures was the lead institutional investor, accompanied by a group of smaller individual investors. Cloud computing represents a discontinuous innovation that is changing the way enterprises consume and deliver critical business services,” said Thomas Ball, partner at Austin Ventures. “By Gazzang, Inc.,

SQL 59

SQL PHP Database Open Source 59

David Teten

JANUARY 10, 2012

The first panel will focus on public markets and will discuss the use and effectiveness of social media tools and data mining technologies in harnessing the wisdom of crowds to generate investment ideas. Howard Lindzon is Co-Founder and CEO of StockTwits, a social network for traders and investors to share real-time ideas and information.

Technical Review 128

Technical Review Technology North Carolina Switzerland 128

Bryce Dot VC

DECEMBER 4, 2012

That being the case, we’ve had active, ongoing discussions with potential investors about fund III since we closed fund II back in 2010. Tho many established firms have their LP base solidly in place, we’re relatively new and still trying to sort out the right mix of institutional investors, be it fund of funds, pensions, endowments, etc.

LP 60

LP Advisory Board Institutional Investors Security 60

David Teten

FEBRUARY 3, 2014

We drew on our work with leading institutional investors and in-depth interviews with over 150 funds. The venture capital industry is continuing its evolution from an upside-down pyramid (typically 3-10 Partners, plus some administrative support) to a traditional hierarchical pyramid. Notes: Only for IT & related sectors.

Private Equity 114

Private Equity Venture Capital Technical Review Equity 114

David Teten

MARCH 24, 2014

So the retail market is notoriously irrational. For Professional Institutional investors: agency risk is a huge problem. To quote my Partner John Frankel , traditional money managers are great at managing your money until there is none left. They go to market stressing that their model is highly proprietary.

Software Review 114

Software Review Due Diligence Venture Capital Portfolio 114

David Teten

FEBRUARY 2, 2012

By contrast, as a venture capitalist, I can report that almost all of our portfolio companies are desperate to hire talented software engineers, and eager to hire in a range of other roles. Organizations like Worldwide Investor Network and the US-Israel Business Council are helpful in this area.

Government 146

Government Technical Review New York Offshore 146

View from Seed

MAY 29, 2019

Today, we are seeing less syndication of seed rounds and sharper elbows among many of the funds in the market. This post will try to describe why this is happening and what repercussions are for founders and investors. Similarly, the seed market is beginning to look like this too. These two forces go hand in hand.

Syndicate 267

Syndicate Syndication Cofounder Cap Table 267

View from Seed

OCTOBER 22, 2015

We only make a small number of investments each year per partner so that we can be hands-on. We have invested in building a platform to benefit our portfolio even though we are smaller and younger than many other venture funds. – We are seed investors. – We are seed investors. – We are hands-on.

Seed Stage 120

Seed Stage Startup Portfolio Institutional Investors 120

David Teten

JANUARY 8, 2013

Historically, institutional investors kept their investing strategy and their activities very discreet. According to Jeff Bussgang, General Partner at Flybridge Capital Partners, about 10-15% of the 1,000 active venture capitalists in the U.S. Social media is valuable for more than just origination.

Private Equity 114

Private Equity Social Media Equity Media 114

David Teten

NOVEMBER 15, 2013

Since I became an institutional investor, my #1 learning is: this is a highly unusual and somewhat baffling industry. The average equity fund investor earned a market return of only 4.25%. Disruptable Pattern #4: Most investors put in only a modest amount of their own money into their funds.

Management 114

Management Pre-Money Valuation Venture Capital New Hampshire 114

Hunter Walker

MAY 2, 2016

Advisory Board lunch w our largest investors followed by a State of Homebrew, State of the Market, State of our Portfolio presentation. And then a dinner with our institutional investors, founders and advisors. But we know valuations are just a moment in time based upon any number of market factors.

Advisory Board 48

Advisory Board LP Institutional Investors Portfolio 48

Hunter Walker

MAY 2, 2016

Advisory Board lunch w our largest investors followed by a State of Homebrew, State of the Market, State of our Portfolio presentation. And then a dinner with our institutional investors, founders and advisors. But we know valuations are just a moment in time based upon any number of market factors.

Advisory Board 48

Advisory Board LP Institutional Investors Portfolio 48

David Teten

MARCH 5, 2021

Research from BCG, Harvard Business Review, First Round Capital, the Kauffman Foundation, and Illuminate Ventures shows that investors in diverse teams get better returns: Paul Graham , cofounder of Y Combinator (2015): “Many suspect that venture capital firms are biased against female founders. According to Pitchbook data , only 21.6%

Cofounder 78

Cofounder Founder Technical Cofounder Technical Review 78

Rob Go

NOVEMBER 30, 2012

I was surprised to find that it has been more than two years since my post summarizing the state of the seed stage market, and trying to bring a balanced view on the rise of Super Angels and Micro-VC’s. The venture capital market continues to be in transition, and a lot of changes have occurred in the early stages of the market.

Seed Stage 55

Seed Stage Pre-Money Valuation Dilution Early Stage 55

Rob Go

OCTOBER 22, 2015

We only make a small number of investments each year per partner so that we can be hands-on. We have invested in building a platform to benefit our portfolio even though we are smaller and younger than many other venture funds. – We are seed investors. – We are seed investors. – We are hands-on.

Seed Stage 28

Seed Stage Portfolio Institutional Investors Later Stage 28

Pascal's View

MARCH 9, 2010

Susan Mangiero , CEO of Investment Governance’s Fiduciary X , asked me the following: Question: At a time when transparency is so important to institutional investors, how can fiduciaries reconcile that there is limited information available with a private company?

Government 31

Government Private Equity Institutional Investors Venture Capital 31