Hunter Walker

SEPTEMBER 9, 2024

There were no ground rules other than to specify that ‘people’ could be founders, politicians, LPs, etc and that it would be default attributed but anonymous if they desired. This difference comes from the outlier returns driven by backing founders who are different. More to come in batches of five answers each post.

Venture Capital 91

Venture Capital LP Cofounder Early Stage 91

Both Sides of the Table

SEPTEMBER 29, 2013

” From the hyperbolic Jason Calacanis weighing in that “The petty VC’s did everything to deride [Naval, the co-founder of AngelList]” as though the industry was collectively s g its pants that AngelList was going to put us out of business. founder fighting. Must be doing something right! Bowery Capital).

Syndication 356

Syndication Syndicate Cofounder Early Stage 356

Eric Friedman

DECEMBER 27, 2021

This is already happening, but there will be an explosion of rolling funds, operator angels, and micro investors who want to co-invest in friends, companies, and cohorts they are a part of. Maybe the founders are the micro VCs we have been waiting for? This sort of happened. 6/ I don’t get the vaccine for COVID19 (but want too!).

Balance Sheet 97

Balance Sheet Stock Private Equity Option Pool 97

Austin Startup

AUGUST 10, 2017

He co-founded the first angel investor group in the Bitcoin space, BitAngels , in 2013, which grew to over 500 members globally. He has since gone on to cofound Factom (a well-known crypto project who’s tokens are worth more than $150 million), where he serves as Chairman today. The fund returned ~8x in 24 months. Factom, Inc.

Technical Review 48

Technical Review Cofounder Technical Cofounder Austin 48

David Teten

DECEMBER 3, 2019

To learn more about this space, I suggest join an online community I co-founded, PEVCTech. . 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. The 11 Steps of Investing in Private Companies.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Feld Thoughts

AUGUST 13, 2020

” I knew Austin from his time at TenOneTen Ventures (we are an LP) and I reconnected with him when he joined the Kauffman Fellows Program (Class 25). Over 90% of the selected companies are led by Black and Latinx founders, and the majority of founders are women.

Los Angeles 178

Los Angeles LP Cofounder B2B 178

View from Seed

OCTOBER 11, 2022

At the seed stage and as companies scale, helping the founders I work with identify and reach their goals, personally and professionally, gives me energy and purpose. I made over a dozen angel investments and a few investments in VC funds as an LP, expanding my focus to new geographies, sectors, and stages.

North America 156

North America San Francisco Cap Table Cofounder 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. Over the first year we’ve seen a steady increase in number of opportunities (thank you founders and co-investors!). We love our founders. Roughly 50% result in a first meeting.

LP 98

LP Cofounder Term Sheet Valuation 98

Hunter Walker

JANUARY 5, 2014

Meeting new founders while collaborating, recruiting, analyzing, doing whatever it takes, to help our current founders build strong companies. ” That means the founders are currently fundraising and we are at some stage of mutually getting to know each other. Doing what excites me and gives energy.

Software Review 105

Software Review Balance Sheet Cofounder Technical Review 105

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. Jan Koum, one of WhatsApp’s founders, immigrated to the US from Communist Ukraine as a teenager. He worked at Yahoo, where he met his co-founder. 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.

Portfolio 103

Portfolio Cap Table LP Valuation 103

Both Sides of the Table

FEBRUARY 18, 2017

This followed the firms founder Don Valentine handing leadership early to Mike Moritz and Doug Leone who then entrusted Jim Goetz. Yves didn’t want to step down — he is still as active as any partner on our team — but he wanted me to take responsibility for: Strategy, recruiting, team development, LP relations, financial planning, etc.

Leadership 161

Leadership LP Venture Capital Silicon Valley 161

This is going to be BIG.

DECEMBER 3, 2020

The partner at the fund, the VC, gets to do the fun part—the meeting with founders, vetting deals, negotiating, helping, etc. Side Benefits Ideally, a small fund could get you the following, but you have to ask to make sure it’s available: Co-investing opportunities. So what’s the point? Access to the partner.

Portfolio 134

Portfolio Syndication Syndicate Deal Flow 134

View from Seed

MAY 29, 2019

These funds would regularly share deal flow with one another and could share the work in supporting founders and helping to push the company forward. This post will try to describe why this is happening and what repercussions are for founders and investors. Is This is Good or Bad for Founders?

Syndication 267

Syndication Syndicate Cofounder Cap Table 267

David Teten

SEPTEMBER 23, 2017

We make a point of keeping our records updated in the major data-trackers tracking the VC industry, e.g., CB Insights , Crunchbase , Dow Jones , Mattermark , Palico , Preqin , Pitchbook , and ThomsonReuters , since they are a source of data to LPs and to potential co-investors interested in us. . Pitchbot.vc 3) Originate investments.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

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. For example, Klarna is rumoured to be raising $650M in fresh capital at $6.5 billion valuation, according to the WSJ, down from $45.6 billion in June 2021.

Venture Capital 167

Venture Capital Valuation Private Equity LP 167

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. But what tools are they using themselves to automate their own processes?

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Feld Thoughts

JULY 31, 2014

In addition to being an incredibly supportive investor in us from the beginning, this LP has become an extremely close friend. As I was walking home after dinner, I thought about the person who had introduced us to this LP. The wonderful dinner last night with the LP Fred introduced me to reminded me of this.

LP 155

LP Advisory Board Venture Capital Early Stage 155

Both Sides of the Table

SEPTEMBER 1, 2016

Rolf Winkler wrote a piece in the WSJ about A16Z’s returns in which he says they “lag behind Sequoia, Benchmark and Founders Fund.” Scott Kupor of A16Z responded with a comprehensive overview of valuation methodology in a post that while accurate feels more targeted at sophisticated Limited Partners (LPs) who invest in funds.

LP 264

LP Jordan Cofounder Limited Partner 264

Both Sides of the Table

FEBRUARY 24, 2019

When you set up a board it is often initially a combination of the founders and the early investors. It can start 2–1 founders to investors and then sometimes moves to 3–2 but sometime around the A, B or C round the idea of “independent” directors comes up. When an entrepreneur takes on investors who take equity (i.e.

Warrant 187

Warrant LP Cofounder Founder 187

Version One Ventures

SEPTEMBER 18, 2014

Co-founders Laura Behrens Wu (CEO) and Simon Kreuz (CTO) launched Shippo in October 2013 and the company has already seen intense growth since launch. Since Shippo negotiates pricing by aggregating its users, the more e-commerce companies that join Shippo, the greater the discounts for everyone.

API 151

API LP Aggregator Europe 151

Both Sides of the Table

JUNE 8, 2014

Cincinnati, like many startup communities in the US over the past 5 years, has revitalized important regions in its urban core, created accelerators, built co-working facilities, pooled together angel capital, attracted VCs, involved educational institutions and solicited the help of important corporations in a more cohesive ecosystem.

Silicon Valley 390

Silicon Valley Kansas City Startup Venture Capital 390

Eric Friedman

DECEMBER 30, 2020

This is a fun area for me as there are founders and companies I am supporting in the space, and its great to see how they have grown during the “crypto winter” of the last few years. 4/ Streaming equity – venture funds + employee stock becomes more liquid. 5/ The rise of operator angels + micro VCs explodes in 2021.

Stock 120

Stock Private Equity Option Pool LP 120

firstround.com

SEPTEMBER 10, 2013

Today, he’s the co-founder and CTO of Artillery , bringing console-quality gaming to the web browser. And even though I was the tech guy surrounded by capable business-focused co-founders, I knew that building a successful company was going to start with a lot more than a command line. Author: Ian Langworth.

CTO Hire 52

CTO Hire Engineer Software Review Part-Time VPE 52

This is going to be BIG.

FEBRUARY 23, 2016

Rather than see LP interactions as a chore or a burden, new fund managers should see this as an opportunity to extend the community around their fund. That happens most when the LPs represent a diverse group of industries and perspectives who want to be helpful to portfolio companies and founders.

Limited Partner 60

Limited Partner Venture Capital Partner LP 60

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. I reinforced this view by referring to a very interesting article I had read by Andy Grove (co-founder & former CEO of Intel) on car batteries, china manufacturing and the problem of US outsourcing.

Bankruptcy 403

Bankruptcy Offshore Liquidation Preference Balance Sheet 403

Hunter Walker

NOVEMBER 30, 2022

In fact, losing money on a meaningful percentage of startups isn’t just expected, it’s potentially evidence that you’re taking enough risk to hit some of the power law winners which will pay back your LPs many times over! Relationship Cost of SPVs/Direct Co-Investment and LP Credibility.

Vertical 48

Vertical LP Syndication Syndicate 48

Version One Ventures

SEPTEMBER 18, 2014

Co-founders Laura Behrens Wu (CEO) and Simon Kreuz (CTO) launched Shippo in October 2013 and the company has already seen intense growth since launch. Since Shippo negotiates pricing by aggregating its users, the more e-commerce companies that join Shippo, the greater the discounts for everyone.

API 66

API LP Aggregator Europe 66

David Teten

JULY 12, 2017

First, a formal definition: According to Capital Dynamics , “Co-investments are direct investments in a company made alongside and on the same terms as a lead [General Partner]. Atish Davda, co-founder of EquityZen , observes, “While there are hundreds of ways to put capital into the ecosystem, taking money out remains harder.

Syndication 60

Syndication Syndicate Institutional Investors LP 60

Both Sides of the Table

APRIL 10, 2016

I joined Upfront Ventures in 2007 and took over as co-Managing Partner in 2011 along with the founder, Yves Sisteron. Build a long-term LP based, anchored by diverse asset types (Universities, Endowments, Family Offices, Pensions, Insurance Companies, Sovereign Wealth Funds & Fund of Funds).

Los Angeles 150

Los Angeles Early Stage LP Community 150

Feld Thoughts

MARCH 20, 2019

Since then, I’ve been a founder of a number of companies, a CTO of a public company that acquired my first company, an angel investor, a VC in two different firms that I helped start, and an LP in a bunch of VC firms.

LP 108

LP Angel Investor Cofounder Leadership 108

www.quora.com

SEPTEMBER 22, 2011

Type to Add and Search Questions; Search Topics and People Startups Startup Compensation Entrepreneurship Compensation Stock Options Major Internet Companies Silicon Valley Why is there such a large founder to early employee equity drop-off? The real question here is: why is it fair for founders to get so much more?

Equity 40

Equity Employee Founder Cofounder 40

YoungUpstarts

NOVEMBER 18, 2018

by Solomon Ali, Co-Founder of Revolutionary Concepts. and Alarmforce LP, SkyBell Technologies, In August Home Inc., What entrepreneur looking to hit it big isn’t searching for that next “patentable” idea? Your appetite has probably been whetted just reading that first sentence.

Intellectual Property 157

Intellectual Property Forecast LLC Acquisition 157

Agile VC

JULY 19, 2012

Back in the 2000-2001 timeframe, a flood of LP capital was coming into the VC asset class given the strong returns of the mid-late 90s tech boom/bubble. For example FRC launched a founders equity exchange fund and various programmatic forms of knowledge sharing like list serves, CEO summits, conferences, etc.

Cofounder 193

Cofounder Limited Partner Early Stage LP 193

David Teten

AUGUST 21, 2019

Most founders who are raising capital look first to traditional equity VCs. RBI normally requires founders to pay back their investors with a fixed percentage of revenue until they have finished providing the investor with a fixed return on capital, which they agree upon in advance. Attractive to founders in controversial sectors.

Revenue 60

Revenue Liquidation Preference Equity Cofounder 60

Agile VC

NOVEMBER 13, 2012

For those who aren’t familiar, Mobius was a VC fund with offices in Silicon Valley and Boulder CO and at it’s peak Mobius had $2B+ under management. the Sequoia’s and Greylock’s of the world) or sometimes its based on the entrepreneurial successes of the founders of new firms (e.g. So at a fund level (e.g.

LP 154

LP Portfolio Venture Capital IRR 154

The Equity Kicker

JANUARY 19, 2016

Fortunately Steve Schlenker, co-founder of DN Capital has captured most of them in his Quora answer to the question: How hard is it to be a venture capitalist. I’ve seen Mark post a few versions of this tweet over time and wanted to write a post about it. I agree with him, but the reasons are complex.

IPO 60

IPO Europe LP Venture Capital 60