Both Sides of the Table

SEPTEMBER 15, 2022

The market was down considerably with public valuations down 53–79% across the four sectors we were reviewing (it is since down even further). ==> Aside, we also have a NEW LA-based partner I’m thrilled to announce: Nick Kim. First in late-stage tech companies and then it will filter back to Growth and then A and ultimately Seed Rounds.

Technical Review 416

Technical Review Pre-Money Valuation San Francisco Valuation 416

View from Seed

DECEMBER 4, 2019

If you aren’t familiar with these metrics, I recommend reading the original post to get a sense of the numbers that I’ll be reviewing here. The top quartile has distributed 2.03x (vs. 1.68) and the median fund now has distributed 1.27X (vs. Based on that metric, the top quartile fund has now distributed 2.03X after 12 years.

LP 256

LP IRR Distribution Portfolio 256

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. at exit due to dilution. So it’s like this same fund actually invested $2.5M

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. at exit due to dilution. So it’s like this same fund actually invested $2.5M

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. at exit due to dilution. So it’s like this same fund actually invested $2.5M

IRR 136

IRR Dilution Founder Portfolio 136

David Teten

JANUARY 19, 2021

Our categorization is not a technical one. Additionally, Flexible VC can accommodate all types of companies, not just asset-lite, tech-enabled companies.”. Flexible VC creates early liquidity which can be either reinvested or distributed to LPs. Technology-centric businesses. Technology-centric businesses.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Tim Keane

JANUARY 12, 2010

If you look at the spreadsheet, you will see that the “Required Rate of Return” is expressed as an IRR.   Internal Rates of Return naturally compound, so a 50% IRR is 7.59   (If you plug in an IRR of 58.5%   Internal Rates of Return naturally compound, so a 50% IRR is 7.59 times at 5 years and 11.39

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68