Both Sides of the Table

FEBRUARY 20, 2019

just having a sparring partner with a vested interest in your success can be useful. A-round venture capital firms will almost certainly make it a requirement that they get a board seat upon financing. The Limited Partners (LPs) who back funds don’t expect their dollars to be passive.

Venture Capital 236

Venture Capital Startup Angel Investor Silicon Valley 236

View from Seed

JANUARY 27, 2021

. $100M is a meaningful increase from our $50M third fund, though it’s still quite small in the grand scheme of venture, especially amid the recent wave of late stage financings and SPACs. We believe that this fund is the perfect size for us to be the best possible partners to early-stage entrepreneurs today.

LP 411

LP Early Stage Seed Stage Venture Capital 411

Babbling VC

OCTOBER 3, 2011

For those of you not in the know, they are one of the largest limited partners ( LP's : investors in venture capital funds) in Europe and are basically in almost all the funds throughout the market. If you see the new funds which have recently been launched you can tell the LP's are putting their money with former entrepreneurs.

LP 82

LP Europe Germany Venture Capital 82

Feld Thoughts

MARCH 24, 2017

Lindel joined Foundry Group as a partner to lead the fund investing activity of Foundry Group Next. We’ve had the opportunity to work with Founder Collective’s partners – David Frankel, Eric Paley, and Micah Rosenbloom – over the years on several companies. It starts with the people.

Founder 77

Founder LP Technical Review Seed Stage 77

David Teten

DECEMBER 3, 2019

But in business, you want a lot of partners. In the private equity universe, most Partners have primary training as deal-makers, not as managers. See Bessemer Venture Partners’ A comprehensive guide to security for startups. Most of us want one spouse and we’re done. The 11 Steps of Investing in Private Companies. 2) Market .

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

VC Cafe

APRIL 29, 2020

This is part of Israel’s Ministry of Finance NIS 1.2 As Bloomberg’s report states, just because you CAN apply, doesn’t mean you SHOULD. Prominent US VCs advised startups not to apply for SBA loans. “ UK – Future Fund, a £500 million match funding for high-growth companies.

Israel 124

Israel SBA Technical Review Startup 124

Haystack

JULY 20, 2018

Will the next company to raise $100M in financing just poach from decent seed-stage companies and pay triple the amount to lock up talent? I caught a glimpse of this energy during my Venture Partner tenure with the folks at GGV Capital , who’ve been successfully investing exclusively across China and the U.S.

San Francisco 116

San Francisco Silicon Valley Seattle Venture Capital 116

David Teten

JANUARY 19, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. Similar to the explosion of seed funds in the past decade, we (and some limited partners too ) believe these Flexible VCs are on the forefront of what will become a major segment of the venture ecosystem. Of the Inc. 5000 companies, only 6.5% return cap.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

David Teten

JANUARY 21, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. VI: Revenue-based financing: The next step for private equity and early-stage investment. This is a summary of: Revenue-Based financing: State of the Industry 2020. His work on VC and small communities can be found at greatercolorado.vc/blog.

Equity 78

Equity Revenue Cofounder Colorado 78

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. I wrote about the two we lost last year to firms that have been around longer and proud to say that since that time, we’ve been able to beat out and/or partner with many great funds.

LP 116

LP Cofounder Term Sheet Valuation 116

Both Sides of the Table

FEBRUARY 25, 2019

Here are some observations I have from this exposure: If a company moves from strength-to-strength with predictable outcomes, easy financings, low staff turn-over, limited competitive threats then the composition of the board probably doesn’t matter as much. kind of like a board for a VC firm).

LP 269

LP Startup Burn Rate Stock Options 269

Both Sides of the Table

SEPTEMBER 1, 2016

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. Upfront Ventures has partnered with Andreessen Horowitz on several deals. What’s an LP to do in deciding which funds to invest in?

Jordan 264

Jordan LP Cofounder Limited Partner 264

Agile VC

DECEMBER 6, 2012

Unlike a startup that might raise equity financing across several rounds all combined in a single balance sheet, VC’s do not simply commingle these funds into a single bucket to be allocated across all the companies in that firm’s portfolio. Or public policy changes may force GPs or LPs to end longstanding relationships.

LP 178

LP Balance Sheet Differentiation Limited Partner 178

Both Sides of the Table

MAY 27, 2016

I was asked again in an LP meeting later in the week and then again at a founder breakfast gathering we hosted yesterday. I spend hours thinking about the products, competitors, market opportunities, recruiting and financing of these businesses. I answered in the same way I always do so I thought I’d just write it publicly.

Early Stage 254

Early Stage Non-Compete LP Later Stage 254

Both Sides of the Table

AUGUST 24, 2015

I made my calls around to a few firms today to hear how their partner meetings went. It will make follow-on financings much harder and people will have to consider whether or not to do inside rounds. This doesn’t happen with every LP and it probably doesn’t kick in unless things get worse.

Stock 150

Stock Finance Marketing Valuation 150

View from Seed

DECEMBER 11, 2019

“I’m thrilled to announce that I’m joining [New Firm] as a Partner where I will continue to invest in great Founders across the industries I care about.”. “I In any professional service industry, there is natural shuffling in the junior roles, as the race up the pyramid towards a Partner title is like musical chairs.

Venture Capital 204

Venture Capital Cap Table Partner LP 204

Babbling VC

JANUARY 7, 2011

I personally believe that one of the major drawbacks to venture capital in Europe is chronic under-financing and people skirt around this issue. Hence, financing rounds have been smaller (roughly a ratio of 5 to 1 when comparing US to EU). Even Dropbox and Etsy have done far larger rounds to finance their growth.

Finance 76

Finance LP Europe Valuation 76

This is going to be BIG.

SEPTEMBER 19, 2012

While my company may not have lasted, and even though I swore to myself that I wouldn't do another startup--this recently launched new venture is moving forward with the help of some fantastic partners. million of limited partner commitments--a huge and exciting first step.

LP 112

LP New York City New York Chad 112

Haystack

JUNE 1, 2018

Perhaps because of this success and the unique elbow grease they supply to their portfolio, it was shocking to many to see that one of the storied seed franchises would contract, become its own sole LP, and scale back its operations. There is a tremendous amount of money and new deals and financings.

LP 116

LP Global Social Media Portfolio 116

Hunter Walker

SEPTEMBER 17, 2024

Ethan Kurzweil /early stage investor, new firm TBA] [hunter: When Ethan first joined his previous firm Bessemer Partners, he told me it would just be a few year stint before a startup. Finding the approach that works for the partners—and can sustain you through all the ups and downs—is what matters.

Venture Capital 106

Venture Capital LP Cap Table Portfolio 106

Feld Thoughts

APRIL 6, 2010

A few weeks ago, I wrote a post about The Proliferation of Standardized Seed Financing Documents. A week or so later, my partner Jason Mendelson wrote a post titled Why There Will Never be a Standard Set of Seed Documents. LPs : I only had one email from an LP. It was a short one. Don’t waste your time on this.”.

Term Sheet 124

Term Sheet LP Finance Email 124

Feld Thoughts

MAY 8, 2012

We’ve made a conscious decision as a firm never to grow – either number of partners or size of fund – so we are limited to the number of new investments we can make a year based on our approach. We don’t expect anything for this other than a role as a typical LP, but we view it as increasing the seed ecosystem.

Seed Stage 138

Seed Stage LP Warrant Syndicate 138

Both Sides of the Table

MARCH 30, 2016

Mark dutifully went to partner meetings, back-channel references began, firms started calling existing VCs to “test prices” and we started debating whom our best partner would be. Great companies get financed. As we headed into Q4 it was clear that firms were elongating the process.

Balance Sheet 150

Balance Sheet Burn Rate Valuation Forecast 150

Growthink Blog

MAY 3, 2010

Typically a Series B financing event will raise $5 to $10 million for the company. million Series B financing round - this is the biggest Series B round I've seen in a long time. There is a ton of financing waiting for the right companies. So yes, even in this economy, venture capital financing IS readily available.

Venture Capital 71

Venture Capital LP Syndicate Syndication 71

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. Access to the partner. If you’ve put money into a fund, I think it’s reasonable to expect that partner to check out the deal flow that you find on your own, and let you know what they think.

Portfolio 103

Portfolio Syndicate Syndication Deal Flow 103

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. It encourages a bit too much FOMO (fear of missing out) and over-valuation in companies and a desire to do huge financing rounds to be perceived as the “knock-out winner.” Grow or die.

Silicon Valley 390

Silicon Valley Venture Capital Startup Technical Review 390

VC Cafe

APRIL 9, 2010

Benchmark Capital and existing investors including Mangrove Capital Partners and Bessemer Venture Partners funded the round for future product development, likely for iPad related Flash content (more here ). Canaan Partners; Greylock Partners; Siemens Venture Capital GmbH; Warburg Pincus LLC;Wellington Partners Venture Capital GmbH.

Israel 68

Israel Venture Capital LLC LP 68

The Equity Kicker

JULY 8, 2019

From around 2000, and perhaps coinciding with the need to work harder to win deals as opportunities dried up after the internet bubble burst, individual partners at VC firms began adding ‘helping CEOs win’ to their job descriptions. . Value add strategies make partners at VC firms more personally effective. Building platforms.

Portfolio 84

Portfolio LP Venture Capital Partner 84

Austin Startup

JULY 23, 2010

The company announced that is just completed $13M in financing from existing investors SMH Private Equity Group, ABS Ventures, Austin Ventures, and Trellis Partners. These are some things to think about when pricing products dynamically, but I’m sure Zilliant’s products are not just focused on realtime web.

Balance Sheet 67

Balance Sheet Private Equity LP IPO 67

Both Sides of the Table

JULY 23, 2014

Limited Partners or LPs (the people who invest into VC funds) have taken notice as 2014 is by all accounts the busiest year for LPs since the Great Recession began. The “big boom” in startup financing started around March 2009?—?more Why is this? more than 5 years ago?—?and and hasn’t abated.

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

K9 Ventures

NOVEMBER 30, 2008

The birth of modern-day venture capital (not considering the European monarchs financing explorations and projects as venture capital) can be traced back to American Research and Development, which was started by Georges Doriot. The General Partners (GPs) are the operating guys. The business of venture capital is relatively young.

IRR 48

IRR Venture Capital LP Early Stage 48

Bryce Dot VC

NOVEMBER 19, 2012

That said, we’ve seen a parallel trend wherein the vast majority of LP capital is being consolidated to a handful of the top firms who’s bar for follow on financing is incredibly high. I am fortunate to call them Partners and friends.

Seed Stage 61

Seed Stage LP Incubator Venture Capital 61

David Teten

AUGUST 21, 2019

Revenue-Based Investing (“RBI”) is a new form of VC financing, distinct from the preferred equity structure most VCs use. A company with that mindset is dramatically less risky, because it’s not dependent on the financing markets for continued viability. Most founders who are raising capital look first to traditional equity VCs.

Revenue 60

Revenue Liquidation Preference Equity Cofounder 60

Professor VC

DECEMBER 8, 2015

I was a Limited Partner in Angel Investors II (Ron Conway's angel fund) that was an investor in Confinity. Luckily, Google was one of the 150 and did ultimately return the fund assuming the LP was smart enough to hold the stock after distribution. Like CPF, Kilowatt also provides solar financing services to consumers.

Merger 28

Merger LP IPO Redemption 28

Professor VC

MARCH 12, 2015

The above was the opening salvo of a controversial tweetstorm yesterday by my former student and 500 Startups founding partner, Dave McClure (full venom below). I don''t know the reasons for selling, but presumably Authy felt their prospects weren''t promising as a standalone entity and may have had difficulty raising further financing.

Syndicate 28

Syndicate Syndication Silicon Valley Common Stock 28

Both Sides of the Table

JUNE 29, 2011

I would put my firm, GRP Partners in with the group working with teams in different ways. I believe some VCs have entered the early-stage market as simply an option on future financing rounds. The LP Community Hasn’t Yet Caught Up. My best guess is that new LP funds will be set up in the future to service Micro VCs.

Venture Capital 296

Venture Capital Software LP Early Stage 296

David Teten

MARCH 14, 2018

My Partners at HOF Capital are younger than I am, which means that we have a half-century horizon for the franchise we are building. – Build out low-cost force multipliers such as scouts , Advisors, Entrepreneurs in Residence, Venture Partners, and so on. So we think about scaling a lot.

Private Equity 60

Private Equity Venture Capital Equity Cofounder 60