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Praying to the God of Valuation

Both Sides of the Table

2001–2007: THE BUILDING YEARS The dot com bubble had burst. SEEING THINGS FROM THE VC SIDE OF THE TABLE While I was a VC in 2007 & 2008 those were dead years because the market again evaporated due the the Global Financial Crisis (GFC). Until we weren’t. Nobody cared about our valuations any more.

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How is the VC Asset Class Doing?

View from Seed

One of the things I pointed out in my prior post was that even though the 2007 vintage was 10 years old, the vast majority of the value was still unrealized. If we compare the 2007 vintage data today vs. what we looked at 2 years ago, it gives us a sense of how much liquidity that vintage has enjoyed in the last couple years.

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How I Got the Monkey Off My Back – Today Was a Good Day

Both Sides of the Table

I become a venture capitalist in September 2007 – exactly 6.5 years ago. I spent my first year developing proprietary deal flow and learning the business and then the Sept 2008 / Lehman Bros collapse / financial meltdown happened. That company was Invoca, which just announced a $20 million fund raise led by Accel.

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Social Networking (the Shorter Version) Past, Present, Future

Both Sides of the Table

Facebook had grown stratospherically from 2004-2007 to 100 million users and was everything that MySpace wasn’t. In May 2007 there were fears that Google was becoming a monopoly. Murdoch seethed at these “startups&# getting rich off the back of MySpace. As you know, Time Warner eventually spun off AOL for peanuts.

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Why Startups Should Raise Money at the Top End of Normal

Both Sides of the Table

2007, 2011) and for the hottest of companies and in bad markets for fund raising (2003, 2008) prices test the bottom end of the range. I saw this kind of pricing when I first entered the VC market in 2007. So rounds tend to be “range bound&# where the top end of the valuation spectrum often being done in boom markets (i.e.

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China’s Torch Program – the glow that can light the world (Part 2 of 5)

Steve Blank

In 2007 the Ministries of Science and Finance raised the stakes to get VC’s focused on funneling more VC money into growing startups – they set up a Venture Guiding Fund. Venture Guiding Fund. The Venture Guiding Fund invests directly into VC funds, co-invests with VC’s, and covers some VC bets.

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Finding an Investor Who is in Love with You

Both Sides of the Table

As I reflect upon the journey’s I’ve taken as a VC since 2007 I realize that the ones I was best at – and that I enjoyed the most – are ones that began by falling in love. Whenever somebody has a car startup I send it straight his way. I haven’t met any VC better connected and more thoughtful in this space.

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