Both Sides of the Table

MAY 20, 2018

We were working on their go-to-market strategy for Europe and Carly was Group President of the division where I was advising (a $19 billion line of business) at Lucent and she flew out for the final presentations. I had learned that this is a standard line every LP uses to have an “easy no” for VCs. What have you got to lose?

LP 189

LP Software Review Europe Founder 189

Both Sides of the Table

OCTOBER 26, 2020

I called an (ex) LP to tell him about her and my goals for her. Marketing, recruiting, building data products & tools, event management, analyzing the portfolio, etc. She has an amazing ethical compass with heart, compassion and drive. She’s empathetic and brings great humor to her work as well. And all the platform stuff.

Partner 361

Partner Management Cofounder San Francisco 361

Both Sides of the Table

JUNE 22, 2021

I counsel first-time VCs (as well as founders) to have mid-funnel strategies to get from first LP meeting to close and to put a disproportionate amount of time into this area (I say more about this on the podcast starting at timecode 27:41). that’s your target market. Why buy me? Why buy now? Why Buy Anything? Why Buy Me?

LP 375

LP Southern California Los Angeles Differentiation 375

Both Sides of the Table

JULY 16, 2010

But VC is an “illiquid asset&# so funds didn’t disappear quickly - In 2000/01 the stock market quickly adjusted punishing investors in the NASDAQ and in individual public technology stocks. So as of 2008 total LP commitments were still at nearly $250 billion. So the people who invest in VC funds have two problems.

LP 311

LP Technical Review Early Stage Silicon Valley 311

View from Seed

JANUARY 27, 2021

What hasn’t changed is that our heart lies in working with founders to find product/market fit and to begin to grow. 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

David Teten

MAY 20, 2016

Our meetup is focused on how to use technology to enhance investing in private markets, including VC, growth, buyout, and distressed. Membership in the Meetup is open exclusively to: Institutional investors in private markets (VC, growth, buyout, distressed, etc.) I asked him to write a guest post: Hi!

Private Equity 113

Private Equity Equity Cap Table Venture Capital 113

YoungUpstarts

OCTOBER 23, 2017

by Joe Duncan, founder of Duncan Capital LP. This combinatorial model works because it’s diversified, can best withstand bear markets, benefits from technological synergies, and it’s the mix of products and services clients value. Fintech is triggering a profound rethink for financial institutions, from retail to investment banking.

Technical Review 154

Technical Review Artificial Inteligence Software Review IPO 154

View from Seed

SEPTEMBER 23, 2020

At first glance, you’d think that all LPs pretty much want to buy the same thing. Every fund pitching an LP is pitching this as a baseline. And yet, LP’s get to “yes” in a few cases and get to “no” in most cases. Some LPs are buying access to direct investment opportunities. That’s kind of a given, but it’s insufficient.

LP 309

LP Customer Early Stage Portfolio 309

Both Sides of the Table

MARCH 24, 2014

It turns out it actually takes time to build a high-growth business with differentiated intellectual property and roll out large, enterprise-class marketing solutions. I remember a few years ago people (LPs mostly) used to ask me why I didn’t have any realized returns to show. 5 years ago. The monkey on my back. ” Yup.

Los Angeles 387

Los Angeles Intellectual Property LP Venture Capital 387

David Teten

MAY 16, 2017

Sapphire Ventures’ Top 10 tips for pitching an LP . Trusted Insight LP Panel. Who Invests In Investors: Homebrew LP Shares VC Performance Goals, Importance of Diversity & What They Look For In New Funds. Hunterwalk.com: Homebrew’s Second Annual LP Meeting: Why We Do Them. Mahendra Ramsinghani : How LPs conduct DD.

Private Equity 60

Private Equity Venture Capital Technical Review Equity 60

Version One Ventures

JANUARY 31, 2024

— Boris Wertz (@bwertz) January 11, 2024 While I was aware of many emerging GPs raising right now, I didn’t realize just how many were in the market. The first is the fund that you would ideally raise if LP capital was not a constraining factor. Or an LP wants to anchor the fund, but asks for a large piece of the carry.

LP 73

LP Differentiation Deal Flow India 73

Feld Thoughts

MARCH 24, 2017

This means FC avoids trends and relentlessly questions entrepreneurs about how their product enables specific use cases and market opportunities. Founder friendly” is an overused term, but there is a big difference between marketing this as a concept and living it every day.

Founder 75

Founder LP Technical Review Seed Stage 75

Both Sides of the Table

APRIL 21, 2020

Harry was gracious enough to invite me back so this past week we recorded an episode discussing the current market environment. Nobody will be immune because in a bull market executives are paid to “innovate” so they sign software contracts and run projects. If you’re a clear “market winner” like Stripe, Robinhood or Airbnb.

Marketing 263

Marketing Valuation Churn Rate Balance Sheet 263

Version One Ventures

JULY 24, 2019

Performing market research and due diligence for potential investments. Reporting for our investors, including writing quarterly updates and preparing LP advisory board meetings. Working with existing portfolio companies, including helping out with hiring, financial modeling, and research.

Technical Review 125

Technical Review Advisory Board Due Diligence LP 125

View from Seed

AUGUST 17, 2021

New funds have formed, old market leaders are gone or walking dead. But the reality is that the more interesting the market, the more likely there is to be rapid and unpredictable change. But the reality is that the more interesting the market, the more likely there is to be rapid and unpredictable change. Patience is a virtue.

IRR 205

IRR Dilution Founder Portfolio 205

Both Sides of the Table

MAY 6, 2015

As an active investor in the Los Angeles technology market we’re always seeking to better understand the data and trends of why our market has grown so rapidly since 2009. The report on the LA Tech Market can be found on this link. And the first report released is this one — > The State of the LA Tech Market.

LP 150

LP Los Angeles Marketing Partner 150

Both Sides of the Table

OCTOBER 12, 2014

Prorata rights are one of the most important rights of a private market technology investors and yet are seldom fully understood. Because companies are raising way more capital in private markets than they ever did in the past. What would you do as an LP fund if you backed a seed-stage GP who had a position in Twitter, Pinterest, etc.

Technical Review 336

Technical Review Later Stage Early Stage LP 336

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. Market update.

LP 97

LP Europe Portfolio Private Equity 97

Both Sides of the Table

JULY 23, 2014

15 years ago we were at the peak of Internet hype with the launch of many over-capitalized businesses with a market size & opportunity was limited. The VC market has right-sized (returned back to mid 90′s levels & less competition). But markets value high growth over short-term profitability. Where are we today?

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

View from Seed

AUGUST 17, 2021

New funds have formed, old market leaders are gone or walking dead. But the reality is that the more interesting the market, the more likely there is to be rapid and unpredictable change. But the reality is that the more interesting the market, the more likely there is to be rapid and unpredictable change. Patience is a virtue.

IRR 156

IRR Dilution Founder Portfolio 156

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. There are several Homebrew investments going to market for their Series A this year. In bull markets we’re told to expect a seed failure rate of ~40% and closer to 50% in typical markets.

LP 97

LP Cofounder Term Sheet Valuation 97

Eric Friedman

DECEMBER 27, 2021

With the advent of programs like CartaX and what I call streaming venture funds , the liquidity in private markets is going to get the foundation to grow significantly in 2021. As of this writing BTC is at $48K and this ended up happening in early Jan 2021. 4/ Streaming equity – venture funds + employee stock becomes more liquid.

Balance Sheet 97

Balance Sheet Stock Private Equity Option Pool 97

Both Sides of the Table

SEPTEMBER 22, 2012

Growth will slow, partly due to internal limits and partly because the company is starting to bump up against the limits of the markets it serves.” He talks about making things that people want & going after a big enough market. Tim Barker is the CPO of DataSift (and heading European marketing for Salesforce.com).

Silicon Valley 390

Silicon Valley Venture Capital Startup Technical Review 390

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

View from Seed

AUGUST 17, 2021

New funds have formed, old market leaders are gone or walking dead. But the reality is that the more interesting the market, the more likely there is to be rapid and unpredictable change. But the reality is that the more interesting the market, the more likely there is to be rapid and unpredictable change. Patience is a virtue.

IRR 136

IRR Dilution Founder Portfolio 136

Both Sides of the Table

MAY 27, 2013

In this period (less than 2 years) he has brought on incredibly talented senior execs is sales, marketing, product management, client services, finance, vp engineering and more. You may have an opinion on your market-entry strategy for Europe. Growth like this, this early in a company’s lifecycle rarely happens.

Advisory Board 365

Advisory Board CTO Hire Fractional CTO Los Angeles 365

Both Sides of the Table

JUNE 19, 2015

Meeting a lot of candidates to find your head of marketing is all well and good but if 2 months later you still have no one in the role you’re still down a person. I worked with a successful portfolio company recently that had to make some big moves in the market. Opening is easier than closing.

LP 150

LP Warrant Portfolio Framework 150

K9 Ventures

OCTOBER 21, 2023

I describe this to K9 LPs as this is my opinion and feelings based on what I see from my vantage point as a pre-seed/seed stage investor. LPs and GPs should be aware of this dynamic as they make investment decisions. ‘ You have to be a little bit crazy and naive to start a company. It’s never going to be easy.

Seed Stage 80

Seed Stage LP Early Stage Founder 80

Babbling VC

OCTOBER 3, 2011

Fortunately, for those of us in the market long enough, it's actually good news. 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. This for me is a no-brainer. This is a tough one.

LP 82

LP Europe Germany Venture Capital 82

Hunter Walker

AUGUST 8, 2023

Obvious caveats to my POV here, most specifically: exposure is limited to largely the US/SiliconValley ecosystem, driven by our own portfolio, my friends and co-investors, the funds I’m a LP in, and our institutional LP relationships. Soft Acquisition Market. And that’s what’s happening here.

Portfolio 98

Portfolio Cap Table LP Valuation 98

This is going to be BIG.

OCTOBER 12, 2020

I took my last LP meeting the first week of March and clearly, I didn’t close anyone that I had met with at that time. Not everyone produces LP money with the snap of a finger—not even Alan Patricof. I spent some time updating my deck, doing some outreach and started lining up early February meetings. He seemed paranoid.

LP 136

LP Technical Review Software Review Valuation 136

Both Sides of the Table

FEBRUARY 20, 2019

In 2019 market conditions often are such that founders retain control of the board through the A-round, usually in a 2–1 (common to investor) ratio but sometimes it’s 3–2 (common to investor). Further, if you don’t trust that VC to serve on your board then why would you take money from them in the first place?

Venture Capital 236

Venture Capital Startup Angel Investor Silicon Valley 236

Both Sides of the Table

FEBRUARY 25, 2019

this requires a strong knowledge of market data, employee performance, company performance relative to market and available resources?—?cash We then do a cocktail party so that everybody can have informal conversations (including LP to LP) and then we do a dinner in a private room at a restaurant.

LP 269

LP Startup Burn Rate Stock Options 269

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. I overviewed demographic and economic trends globally and outlined the opportunity for technology companies to access growth in the emerging markets. You can view the full presentation here.

India 107

India North America Ukraine Silicon Valley 107

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

Genuine VC

SEPTEMBER 7, 2010

The famed business strategist Michael Porter described a set of successful general strategies which firms employ to achieve a sustainable competitive advantage: differentiation strategy and cost leadership strategy for those firms with a broad market scope, and a segmentation strategy for those with a narrow market scope.

Seed Stage 191

Seed Stage Belgium Differentiation LP 191

YoungUpstarts

JULY 15, 2020

The volatile economy is one example: we don’t know how or when the markets will recover. and founder and CEO of PHT Opportunity Fund LP. Or, we use contingency statements: if THIS is true, THAT is true. But COVID-19 changed those premises. Now, there are too many unknowns to rely on lazy thinking. and Growers Ice Company, Inc.,

Harvest 251

Harvest LP Community Founder 251