View from Seed

AUGUST 17, 2021

One industry specific example is the strange fascination among some LPs and GPs around term IRR. Even though everyone knows that VC funds take 10+ years to come to fruition, one often can’t help but benchmark themselves based on IRR in the early days. You can’t just start chasing the shiny new thing every moment something new arises.

IRR 205

IRR Dilution Founder Portfolio 205

View from Seed

AUGUST 17, 2021

One industry specific example is the strange fascination among some LPs and GPs around term IRR. Even though everyone knows that VC funds take 10+ years to come to fruition, one often can’t help but benchmark themselves based on IRR in the early days. You can’t just start chasing the shiny new thing every moment something new arises.

IRR 156

IRR Dilution Founder Portfolio 156

View from Seed

AUGUST 17, 2021

One industry specific example is the strange fascination among some LPs and GPs around term IRR. Even though everyone knows that VC funds take 10+ years to come to fruition, one often can’t help but benchmark themselves based on IRR in the early days. You can’t just start chasing the shiny new thing every moment something new arises.

IRR 136

IRR Dilution Founder Portfolio 136

This is going to be BIG.

JULY 30, 2015

Distributions can actually be drawn out over an extended period of time, but for the purposes of this exercise, I just kept the fund to 11 years. Where I don't actually think that's the case is in growth rounds, which seem hyper competitive right now--and where the ability to differentiate yourself as an investor is limited.

Venture Capital 60

Venture Capital Pre-Money Valuation IRR Valuation 60