Both Sides of the Table

MARCH 24, 2014

Getting Exits / Driving LP Returns: This was always the knock on me. This investment started with Dana Settle (Greycroft) and I each putting in $750,000 into a young company doing less than $1 million in sales and has blossomed into one of the fastest growing companies in Los Angeles if not the entire country. The monkey on my back.

Los Angeles 387

Los Angeles Intellectual Property LP Venture Capital 387

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. In revenue terms our first two years of sales were $2.1 And it launched this author’s career and taught me everything I know about sales, marketing, hiring, firing, fund raising and so on. Grow or die.

Silicon Valley 390

Silicon Valley Venture Capital Startup Technical Review 390

Both Sides of the Table

JUNE 19, 2015

Sales people (and website customer acquisition folks) all think in terms of funnels and yet non-sales professionals seldom do. Today I’d like to give that advice in more tangible terms and with a framework to think about your tasks – the funnel. Opening is easier than closing.

LP 150

LP Warrant Portfolio Framework 150

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. Growth like this, this early in a company’s lifecycle rarely happens. In his spare time he raised nearly $30 million. Send Text messaging for rapid responses.

Advisory Board 365

Advisory Board CTO Hire Fractional CTO Los Angeles 365

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. This is also the first year that smartphone sales overtook feature phone sales globally – driven by sales in India. I gave a talk, titled “What in the World?”,

India 107

India North America Ukraine Silicon Valley 107

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. As The Information proclaims, “ Unicorn Fire Sales Ahead.”

Portfolio 98

Portfolio Cap Table LP Valuation 98

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. Contributed Articles Sales Startup' Most VCs (including ff Venture Capital ) collect money from independent limited partners in order to form their fund. Previously posted on Pandodaily.

Startup 114

Startup Technical Support Venture Capital Balance Sheet 114

Both Sides of the Table

JANUARY 5, 2010

They often make great team members such as head of products, CTO, head of sales, CFO, etc. 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? Why should I be?

Entrepreneur 293

Entrepreneur CTO Hire South America Salary 293

Austin Startup

AUGUST 10, 2017

Before graduating, I decided to forgo the finance path and instead dove into engineering and later sales and product management roles at VersaSuite (health IT) in Austin. They helped us establish 2 GP entities, 2 LP entities, and 1 Cayman entity (for international investors) in ~2 months. We were infatuated with tech.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

VC Cafe

JULY 4, 2022

billion in 2,251 deals during the second quarter through June 15, versus about $70 billion in 3,369 deals in the first quarter • Declining valuations: In the secondary market for private equity, 55% of the equity offered for sale in May was offered at a discount to the companies’ valuations per share, compared with 47% in March and 35% in January.

Venture Capital 167

Venture Capital Valuation Private Equity LP 167

David Teten

SEPTEMBER 23, 2017

A more efficient approach is to mine the data exhaust from the Limited Partner universe to identify those LPs most likely to find your fund attractive, and focus all your energy on them. I previously posted a detailed presentation with sales technology tools useful for B2B sales. Pitchbot.vc 3) Originate investments.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

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

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. Treat this as a formal sales process, and aggressively maintain your CRM. . to keep track of where everyone is in the sales process. If budget permits, recruit resources to focus on fundraising. .

Private Equity 78

Private Equity Venture Capital Technical Review Software Review 78

Both Sides of the Table

SEPTEMBER 1, 2016

In the article it talks about Sequoia’s $19 billion sale of WhatsApp to Facebook that generated apparently $3 billion for Sequoia and its shareholders. What’s an LP to do in deciding which funds to invest in? Even when they are off-the-record with nobody else listening. But I’m making the opposite point. We can’t know.

LP 264

LP Jordan Cofounder Limited Partner 264

David Teten

JANUARY 19, 2021

Marco Cesare Solinas , VC Analyst with Blue Future Partners , said, “ From the LP perspective, another disadvantage is the lack of track record given the early stage of the concept. Typically stable, high margins; repeatable sales model; clear path to profitability; and high growth potential. Short track record. Typical business model.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Both Sides of the Table

MAY 23, 2012

Thomson Reuters data shows that around $10 billion of LP money went into VCs per year pre bubble. By 2000 the total LP commitments had mushroomed to more than $100 billion. LP contributions to VC firms shrunk from 2000 and by 2005-2008 had stabilized to around $30 billion per year. Bottom of the sales funnel.

Venture Capital 347

Venture Capital Technical Review LP Mobile 347

Both Sides of the Table

MAY 7, 2018

All of this, of course, is Sales 101. In 2010 I didn’t know a single thing about LPs (the people who invest in VC funds). Borrowing from that post: “Remember that fund raising is a sales process. I figured I was wasting my time unless the LP was leaning in on my first meeting. I measured twice and cut once. Not get mad.

LP 215

LP San Francisco Minneapolis Partner 215

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. She is a model for us all!

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Both Sides of the Table

MAY 24, 2021

It has historically been the case that VCs would rather fund the promise of 100x in a company with almost no revenue than the reality of a company growing at 50% but doing $20+ million in sales. Our goal is to produce a $10 billion+ winner and remain the market leader in this SaaS category of AI in Sales & Marketing.

Venture Capital 363

Venture Capital LP Valuation Later Stage 363

ithacaVC

DECEMBER 14, 2011

Specifically, “too much” liquidation preference (I will use “LP” for liquidation preference). As most of you probably know, LP is one of the fundamental economic attributes of preferred stock that preferred shareholders enjoy. Series B round = $5mm and the Series B preferred stock is participating with a 2x LP.

Liquidation Preference 49

Liquidation Preference LP Preferred Stock Liquidity Event 49

This is going to be BIG.

JANUARY 12, 2011

Let’s face it: Sales are the bastard stepchild of the startup world. The real excitement over Salescrunch, though, is how the platform can help you make your sales team perform better. Ever sit in on a sales call with one of your team members? I know Theresia back from when I was at the GM pension fund and we were an LP.

LP 108

LP New York Sales Web 108

David Teten

APRIL 13, 2021

Thus, many LPs have outsourced their investment management processes to professional investment consultants (ICs). Here lies the two degrees of separation: the agent must get to the IC, who in turn must get to the LP. So, it’s hard for an outsider to accurately represent the sales pitch. . Opaque industry.

Private Equity 60

Private Equity Technical Review Management LP 60

Up and Running

MAY 26, 2015

When I was a child, my family and the other families in our neighborhood held annual summer garage sales. For every yard sale, I’d buy bottled lemonade, bake several batches of cookies and brownies, and set up shop. It was a great way to get the community to work together, and of course weed out a little of the inevitable clutter.

Naming 60

Naming LLC Limited Liability Company LP 60

Both Sides of the Table

SEPTEMBER 28, 2011

We call these investors “LPs” for limited partners. I had lunch with an LP. I sent an email to another about what I thought we should cover at his next board meeting and what was missing from the deck he sent. I called another about his fund raising (DUDE – you never called me back! ).

Email 314

Email Product Term Sheet Portfolio 314

Start Up Blog

APRIL 4, 2011

Sales recorded music sold on a physical transportable device (Tapes, CD’s, LP’s et al) have declined 76.3% Cost of wages in labour intensive industry. Music Stores. In the past decade almost 80% of all music stores have closed down in the USA. in the past 10 years.

LP 118

LP New York Video Developer 118

Austin Startup

JULY 23, 2010

But even Walmart (the epitome of brick and mortar) changes prices on some items daily, based upon sales and competitive intelligence. Most people don’t really think of pricing as an elastic thing. An item’s price is the price. So why would you not think that internet retailers are interested in maximizing pricing as well?

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

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. If that were true, then there would be no one working in the sales and marketing departments of these companies.

Deal Flow 28

Deal Flow LP Channel Software 28

Professor VC

NOVEMBER 19, 2009

I attended the annual LP meeting for a venture capital firm this week and got into a discussion about the above question. ProfessorVC. The last blogger in Silicon Valley. Thursday, November 19, 2009. Can Entrepreneurship Be Taught? At a high level, I definitely agree that being an entrepreneur and being in school dont necessarily mix.

San Jose 43

San Jose Silicon Valley Las Vegas Venture Capital 43

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

Both Sides of the Table

JANUARY 16, 2012

Fund raising (as is much of life) is a sale – pure and simple. As with any sales campaign you need to: Qualify your buyers early so you focus your scarce resources on people likely to buy your product. . Three rules in sales: Why buy anything? Remember again that the three major steps to a sale are: Why buy anything?

Developer 366

Developer Silicon Valley PR Las Vegas 366

David Teten

DECEMBER 12, 2017

As a globally focused LP in early stage VC funds, we at Blue Future Partners have observed a growing trend of firms investing substantially in software tools, whether developing proprietary solutions or adopting off the shelf tools. For recruitment and sales, LinkedIn is the most commonly used resource.

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Hunter Walker

SEPTEMBER 29, 2022

Most of this discussion is about ‘playing offense’ — working towards being a good steward of LP capital and the risk/reward associated with VC. Conversely, if you’re not a good picker, it’s difficult to overcome that, even if you had perfect timing on secondary sales. If you do that well it’s very difficult to mess it up.

Venture Capital 122

Venture Capital Cap Table LP Equity 122

David Teten

JUNE 1, 2011

Otherwise, private owners tend to have unrealistic expectations or an arbitrary sale price expectation. Riverside defines proprietary as any sale less than ~3 buyers involved Kinderhook looks for the “broken” auctions that didn’t get the right attention of the PE community. Intermediaries. Wells, PE-Nexus LLC.

Private Equity 122

Private Equity Deal Flow Equity Developer 122

Both Sides of the Table

FEBRUARY 24, 2019

I was a SaaS company and he had been on the Executive Board and the Strategy Council for Larry Ellison at Oracle and he taught me some key lessons about sales and he served as a useful buffer between my investors and me. I had the former head of Oracle, UK, Philip Crawford , on my first board and I found his advice and experience invaluable.

Warrant 187

Warrant LP Cofounder Founder 187

Altgate

MARCH 8, 2009

Growth stage investors are usually the Series B or C investors who come in when the product is in the market but there is little or no revenue and the team is probably in the 20-something range with the goal to ramp it up to 40-50 employees with the new money, build out a sales team, etc. But some will be saved. “dry powder&# ) and $1.5

Later Stage 34

Later Stage Early Stage Venture Capital Portfolio 34

Both Sides of the Table

MARCH 3, 2013

In a discussion I had with Fred Wilson at the Invesco LP meeting Fred said the same about the influence of Clayton. The numerator (return) encourages more sales, which is fine. I have written about Deflationary Economics (one of my most read posts ever) & The Innovator’s Dilemma before.

Bankruptcy 403

Bankruptcy Offshore Liquidation Preference Balance Sheet 403

Both Sides of the Table

MARCH 30, 2016

forward sales with some as high as 12x sales. Collectively we chose growth and the market was rewarding high growth rates over any other factor so we felt that we ought to bring in an experienced CEO who had taken companies public, who had led large, international sales organizations and who was poised to take Invoca to the next level.

Balance Sheet 150

Balance Sheet Burn Rate Valuation Forecast 150