Eric Friedman

DECEMBER 27, 2021

Operating as a sort of fund-of-funds model there is an economy of scale program for figuring out the GP/LP structure, working out the services providers like legal, audit, and tax handling. Your entire experience and process will be governed by a authentication. I think this was brought to life by teams like [link].

Balance Sheet 97

Balance Sheet Stock Private Equity Option Pool 97

Both Sides of the Table

NOVEMBER 15, 2014

I went to see several LP funds in Boston. I think government and community members need to understand that capital formation is an incredibly important part of economic revival. So what can a community do? I often point out the story of when we raised our fourth fund a few years ago. It’s true.

Community 369

Community Silicon Valley Chicago Boston 369

Feld Thoughts

MARCH 14, 2023

While this de-escalated on Sunday night after the US Government took decisive action, the level of stress and anxiety, especially for first-time founders, was extreme. Yesterday, Aaron Gershenberg, a long-time friend and LP of ours from SVB Capital, emailed an introduction to Naveed Lalani, Founder & CEO of Pioneer Mind.

Founder 170

Founder Silicon Valley LP Portfolio 170

David Teten

JANUARY 19, 2021

Marco Cesare Solinas , VC Analyst with Blue Future Partners , said, “ From the LP perspective, another disadvantage is the lack of track record given the early stage of the concept. Governance. Zack Mueller observed, “The key is determining what the Flexible VC instrument is [debt, equity, etc.], Short track record.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Version One Ventures

SEPTEMBER 12, 2017

Then, if you win the deal, you have major influence on the development of the start-up through negotiated governance mechanisms like board seats, information rights, anti-dilution rights, etc. But you also have almost no influence on the project in terms of governance. I, for one, am incredibly excited about what is to come.

Venture Capital 164

Venture Capital LP Dilution Limited Partner 164

Feld Thoughts

APRIL 10, 2014

I’ve been vocal with our state government to not behave in “incumbent protection mode” by over regulating Uber, Lyft, and other innovative new companies. Venture funding goes ballistic: VCJ : Some people are starting to call the top of the current cycle, at least in the context of flows of LP funds into VC firms.

LP 129

LP Denver Colorado Government 129

Both Sides of the Table

JUNE 8, 2014

Importantly the Irish government and local businesses roll out the red carpet to make sure everybody visiting leaves with a strong appreciation of the economic benefits for US startups in locating their European headquarters in Ireland vs. all of the other Continental options available. Money is the easy part.

Silicon Valley 390

Silicon Valley Kansas City Startup Los Angeles 390

This is going to be BIG.

JANUARY 9, 2012

Now, there are bills on the table that would basically allow the government to shut down my website—my entire website—for putting up content that someone else has the rights to. It’s an embarrassment, frankly, to our tech community. If you support this bill, you are not supportive of us.

IP 138

IP New York LP Internet 138

Hunter Walker

SEPTEMBER 11, 2024

In exchange for managing LP money, a VC firm will get up to 20% of the amount raised as a management fee (even if every startup they fund fails) and on top of that, will earn 20% of any profits. A VC firm’s fiduciary responsibility is to their LP. They have to fundraise just like startup founders.

Venture Capital 88

Venture Capital LP Limited Partner Green 88

Pascal's View

MARCH 17, 2010

Susan Mangiero , CEO of Investment Governance’s Fiduciary X , asked me the following: Question: What happens if an LP wants to exit a VC fund? This is the eighth in our series of ten frequently asked questions from investors in venture capital partnerships. What are their rights?

Limited Partner 28

Limited Partner Government LP Partner 28

Pascal's View

MARCH 8, 2010

It’s that time of the year again– time to send out audited financial statements and K-1’s to your limited partners– which means it’s also a great time to address some of the common questions that investors raise about VC partnership governance and disclosure issues. entitled to receive from a VC fund?

Limited Partner 28

Limited Partner Government Delaware LP 28

Pascal's View

MARCH 19, 2010

Susan Mangiero , CEO of Investment Governance’s Fiduciary X , asked me the following: Question: I’ve read that some GPs are suing LPs for not making capital calls. The LPs claim that they are cash constrained and/or the VC fund has not performed. Do you see a trend here of broken contracts?

Limited Partner 28

Limited Partner Government LP Venture Capital 28

Up and Running

MAY 26, 2015

To register your business name this way, you’ll need to register your business structure, such as a limited liability company (LLC) or a limited partnership (LP), a corporation, or a nonprofit. Registering your LLC or LP: The rules governing LLCs and LPs will vary state to state, so be sure to check your specific state regulations.

Naming 60

Naming LLC Limited Liability Company LP 60

The Startup Lawyer

JANUARY 6, 2011

Assuming a Corporate VC is operating a traditional fund vehicle and not just investing off of the balance sheet (probably the first real difference), I would say the most recognizable difference is in the single vs. multiple LP structure. We’ve written a check as quickly as 72 hours (obviously not ideal but we have done it).

Early Stage 58

Early Stage LP Later Stage Balance Sheet 58

Pascal's View

MARCH 15, 2010

Susan Mangiero , CEO of Investment Governance’s Fiduciary X , asked me the following: Question: You had some thoughts about contract terms. Do you think the trend is shifting in favor of institutional LPs to receive better terms?

Clawback 28

Clawback Limited Partner Government LP 28

The Equity Kicker

OCTOBER 13, 2016

Additionally, I know for sure that one UK fund which closed after the June 23rd referendum has the EIF as an LP. As he mentions, we will need the consent of 33% of EU governments, so this is not something we can take for granted.

Norway 60

Norway LP Venture Capital Israel 60

The Equity Kicker

JULY 8, 2019

Most investors thought of their job as picking good companies and making sure governance was strong. The GP-LP structure used by most funds is a brake on innovation here too. Because LPs don’t typically have any ownership of the GP they don’t benefit directly when GPs build value into their management companies.

Portfolio 84

Portfolio LP Venture Capital Partner 84

Rob Go

JULY 25, 2011

Establish a board, or a board-like governance structure. The goal of your 2-hour board meeting should be to spend as little time as possible on general updates and non-critical governance issues. ” Remember, we all tell our LP’s that we are immensely helpful to our portfolio companies, so make us follow through on that!

Due Diligence 38

Due Diligence LP Seed Stage Portfolio 38

Start Up Blog

APRIL 29, 2013

Here he found out that every kid in Uruguay is given a free laptop by the government – (for me it’s a bit like western countries giving all kids a free public education some 200 years ago and that’s why they currently lead the developed world). The government is using the shift to technology economies as their chance to reinvent.

Uruguay 123

Uruguay Technical Review Vertical Las Vegas 123

This is going to be BIG.

OCTOBER 12, 2020

I took my last LP meeting the first week of March and clearly, I didn’t close anyone that I had met with at that time. That’s a fantasyland where everything would be better if the government and politics would just get out of the way so they can go back to investing on top of the infrastructure that taxpayer money built.

LP 142

LP Technical Review Software Review Valuation 142

Feld Thoughts

JULY 28, 2014

On paper, only one is in positive return territory as a fund, but the SBIC leverage is a substantial negative factor for the LP investors in that particular fund. As a partner in one of the most visible VC firms in Colorado and an LP in many of the Colorado VC firms, I’ve never heard from Matthew or anyone from the SBIC.

SBIC 143

SBIC Venture Capital Colorado SBA 143

Agile VC

NOVEMBER 13, 2012

A huge cleantech boom occurred and battery companies like A123 went public along with biofuels companies like Amyris, Gevo, and others, though in retrospect this was more of a bubble driven by unsustainable government subsidies (A123 is bankrupt and the biofuels companies trade at a fraction of their IPO valuation). So at a fund level (e.g.

LP 154

LP Portfolio Venture Capital IRR 154

abovethecrowd.com

APRIL 20, 2016

One response from the LP community might be to demand commitments from new funds that prohibit inside-led rounds and cross-fund investing. If you over-fund the industry, aggregate returns fall. Writing huge checks to bloated multibillion dollar VC funds could easily exacerbate the problems that already exist.

IPO 40

IPO Term Sheet Silicon Valley Valuation 40

Startup Lessons Learned

MAY 4, 2021

What is the role of public and private organizations in governing our shared civic fabric? Brian Chesky is always trying to figure out how to put stock in the hands of his community and how to bring community input into the governance, because that's such an important part of the ethos of Airbnb. This is Out Of the Crisis.

IPO 113

IPO Cofounder Technical Review Government 113

Austin Startup

JUNE 26, 2019

I see consumer markets harnessed to wag the dog of public sector employers (government, military) and then the private sector. Do you want someone already making $12–17/hour watching your kid to make less (so a LP can make their returns…)? I see a TON of conscious capital opportunity in there, too.

Silicon Valley 54

Silicon Valley Startup B2C Sweat Equity 54

Both Sides of the Table

APRIL 21, 2020

Of our early-stage deals we do 33% Seed, 66% A’s) Why recycling is important, but why without exits you might even be forced to stop paying management fees for a while What Will Happen with LPs in this Economic Market? Harry asked me whether I thought LP “defaults” (not funding the VC commitments it made) would go up.

Marketing 263

Marketing Valuation Churn Rate Balance Sheet 263

David Teten

NOVEMBER 23, 2020

– Forte has developed an innovative structure to finance vocational reskilling at no cost to individuals or governments. I was previously a Partner at two different VC firms, neither of which had any contractual LP mandate to invest in diverse companies. Starship was launched by the co-founders of Skype.

Venture Capital 60

Venture Capital Partner Technical Review Cofounder 60

Both Sides of the Table

NOVEMBER 6, 2016

Jacob will grow up knowing that anything is possible in America if we preserve our democracy and learn to govern together. When I went to add partners at Upfront I called an LP of mine and told him I was trying to recruit a new partner named Kara Nortman. I shot back quickly at my LP “ You’re kidding me, right? Obama asked.

Los Angeles 150

Los Angeles LP Nevada South Korea 150

Both Sides of the Table

MARCH 12, 2017

Since the change in government is still fresh on people’s minds we asked what VCs thought about the Trump Administration. Below is the full deck with a lot more data and insights and if you missed the recently published LP Survey Results you can find them here.

Venture Capital 277

Venture Capital Artificial Inteligence LP Valuation 277