Steve Blank

NOVEMBER 7, 2023

Finally, as an innovation ecosystem (VCs, their limited partners, and startups) we need to do a better job in insisting in transparency in government, calling out rent seekers and regulators who no longer regulate, and try to keep government from premature regulation of new innovation.

Washington 316

Washington Government Marketing Silicon Valley 316

This is going to be BIG.

MAY 4, 2015

I have a draft deck put together for a next Brooklyn Bridge Ventures fund. I pretty much hate it. Don't get me wrong--the numbers look great. That's not it. It just doesn't really get at what's really important. I wasn't sure exactly how it missed, so I went back to first principles. What *is* really important for a venture fund?

Limited Partner 60

Limited Partner Partner Deal Flow Valuation 60

David Teten

MAY 16, 2017

Historically, the process of winning capital from limited partners has been opaque. LIMITED PARTNERS’ PERSPECTIVE. Origins is a podcast about Limited Partners, created by VC Notation Capital. Denis Tse: Fund Management Craftsmanship: An LP’s Food for Thought for Emerging VC General Partners.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

VC Cafe

APRIL 26, 2023

Several of our limited partners are media and entertainment strategics: broadcasters, publishers, telcos etc, so content creation, distribution and monetisation has always been close to our core focus. At Remagine Ventures we started investing in the generative AI space very early back in 2019.

Generative AI 78

Generative AI Artificial Inteligence ChatGPT Israel 78

Steve Blank

MARCH 16, 2016

VC’s raise money from their investors (limited partners like pension funds) and then spread their risk by investing in a number of startups (called a portfolio). BTW, Angel investors do not have limited partners, and often invest for reasons other than just for financial gain (e.g., The Deal With the Devil.

Liquidity Event 120

Liquidity Event Founder Liquidation Preference Private Equity 120

Both Sides of the Table

DECEMBER 7, 2014

In case you don’t know – as VCs we have have 2 sets of customers: LPs (limited partners) who invest money in our funds and entrepreneurs (who we in turn give money to and help support them in building businesses we hope will be valuable).

Software Review 341

Software Review Customer Technical Review LP 341

This is going to be BIG.

FEBRUARY 18, 2019

All were backed based on the sole criteria that they had the potential to make my limited partners a lot of money. Three teams have African-American founders. Three of the founding teams are married couples. The diversity is the direct result of our mission—to build the most accessible venture capital fund in NY.

Venture Capital 165

Venture Capital Portfolio Cofounder Seed Stage 165

thebarefootvc

JULY 3, 2017

Limited partners (LPs), who manage the capital that gets deployed into venture capital funds, can play an important role in diversifying the funding landscape. Limited partners are pension funds, university endowments, funds of funds (who get their money from pension funds), family offices and foundations.

LP 65

LP Technical Review Silicon Valley Limited Partner 65

The Startup Magazine

FEBRUARY 11, 2022

Leveraging the multi-industry expertise of its limited partners to define targets, grow companies and enhance returns, Hauser Private Equity makes partnerships via control buyout funds, as well as managers of growth equity and special situations funds.

Private Equity 128

Private Equity Equity Technical Review Software Review 128

Austin Startup

JULY 15, 2019

You will work closely with Joshua Baer, Gordon Daugherty, Bryan Chambers, the Ventures Team, limited partners, external venture capitalists, lawyers, accountants and startup CEO’s to review legal agreements, perform our diligence checklist, and make sure transactions close in a timely manner.

Texas 56

Texas Technical Review Silicon Valley Venture Capital 56

Both Sides of the Table

DECEMBER 16, 2014

In recent years we’ve had big wins across all of our long term partners (Yves: Envestnet), (Steven: TrueCar), (Me: Maker Studios). For some reason that I haven’t yet figured out, Limited Partners seems to be pretty confidential about which firms they’ve invest in. Who gave you the money?

Las Vegas 396

Las Vegas St. Louis Southern California San Diego 396

Hunter Walker

SEPTEMBER 12, 2024

Those incentives are often misaligned with the interests of founders and limited partners. Individuals get promoted for successfully out-competing other investors and winning over founders long before knowing whether those were great investments to make.

Venture Capital 66

Venture Capital Technical Review Early Stage Warrant 66

This is going to be BIG.

JUNE 20, 2024

On the other hand, I feel things are a lot more predictable on the fund side—and that getting limited partners for your fund or syndicate is a lot more grounded in something that resembles logic.

Deal Flow 147

Deal Flow Syndication Syndicate Cap Table 147

View from Seed

DECEMBER 4, 2019

The trends described above in VC performance have an upstream effect on Limited Partners which is somewhat counter-intuitive. This data seems to line up with the narrative I’m hearing on the ground. . LP Constraints. Most LPs are trying to manage some targeted asset allocation.

LP 256

LP IRR Distribution Portfolio 256

This is going to be BIG.

MAY 12, 2014

You charge your limited partners this, but you have to pay it back before you start taking a cut of the profits. Most larger funds have a fee around 2%, but when you''re this small, you need a little bit extra to keep the lights on. It''s only a little bit of a performance drag, though, because management fees act like a loan.

Investment Bankers 167

Investment Bankers Term Sheet Venture Capital Technical Review 167

Both Sides of the Table

FEBRUARY 20, 2019

The Limited Partners (LPs) who back funds don’t expect their dollars to be passive. Another reason is that your C-round of capital may very well be $25–100 million and at those check sizes investors want to have an independent board at a minimum (many boards are 3–2 or even 4–1 investors to founders).

Venture Capital 236

Venture Capital Startup Angel Investor Silicon Valley 236

Austin Startup

MARCH 15, 2021

Previously, the venture capital asset class has been primarily for wealthy individuals, pension funds, and large institutions. With the introduction of Rolling Funds, any accredited investor can now easily invest with Capital Factory.

Accredited Investor 106

Accredited Investor Texas San Antonio San Francisco 106

David Teten

SEPTEMBER 23, 2017

A more efficient approach is to mine the data exhaust from the Limited Partner universe to identify those LPs most likely to find your fund attractive, and focus all your energy on them. Relationship Science makes it easier to understand and map social networks into potential limited partners. 2) Raise capital.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

This is going to be BIG.

MAY 5, 2023

I’ll also continue to work within the NYC tech community—now thriving at a level I could hardly have imagined when I first got the pitch deck for USV’s first fund as a Limited Partner at the GM pension fund. To think, I almost didn’t take that 2004 meeting because it was a NYC-based fund.

Later Stage 218

Later Stage Venture Capital Term Sheet Limited Partner 218

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. But it still takes VC to scale a business (thus large capital into industry winners like Uber, Airbnb, SnapChat, etc).

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Steve Blank

FEBRUARY 10, 2016

If you’re a venture capitalist … you have limited partners that give you money to invest on their behalf, and you’re responsible for giving them outsize returns. Steve : And they wanted a bigger business than just a vent company. Nayeem : (Nods.)

Silicon Valley 120

Silicon Valley Ohio Columbus Entrepreneur 120

Berkonomics

AUGUST 10, 2023

The last money has the first say – in valuation and in sometimes forcing draconian terms that require prior investors to contribute a proportional new investment to retain a semblance of their original rights and avoid dilution or worse yet, involuntary conversion to a lower class of stock.

Liquidity Event 116

Liquidity Event Initial Public Offering Dividend Valuation 116

View from Seed

JULY 26, 2019

sometime back in 2010 or early 2011) one of the limited partners we met with asked us what our “favorite future” was for NextView. Another phrase we use internally at NextView pretty often is that of a “favorite future”. Early in NextView’s history, when we were raising our first fund (e.g.

Limited Partner 159

Limited Partner Founder Partner Startup 159

Austin Startup

AUGUST 18, 2017

Limited partners, who commit capital to venture funds, have to commit for 7–13 years. This model has other problems. By far the largest is illiquidity. Once a venture investment is made, the fund will not realize a return until the company sells or IPOs. Few investors can afford to think on that time-scale.

Venture Capital 54

Venture Capital Marketing Technical Review Portfolio 54

Growthink Blog

MAY 14, 2014

Now, funds do work to charge some of these costs back to their portfolio companies, but usually these offsets flow to the fund’s General and not its Limited Partners. All this work is necessary to do venture capital right, but is also expense and friction filled. So what to do?

Venture Capital 101

Venture Capital Disintermediation Technical Review Term Sheet 101

David Teten

APRIL 13, 2021

Limited partner checklist for evaluating funds. Lots of people present that they have a network of potential investors; only a small subset can actually persuade those investors to write a check. Further reading: 15 Steps to Fundraising for Your New Venture Capital or Private Equity Fund.

Private Equity 60

Private Equity Technical Review Management LP 60

David Teten

DECEMBER 3, 2019

A more efficient approach to fundraising than haphazard networking is to mine the data exhaust from the limited partner universe to identify those LPs most likely to find your fund attractive, and focus all your energy on them. Cobalt for General Partners helps GPs to optimize their fundraising strategy.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

This is going to be BIG.

OCTOBER 5, 2012

I would argue that returns might go up if VC fundraising was a lot more meritocratic and if the big Limited Partners got to see everyone who was fundraising at the same time. Everyone would know who they were and they could have a short form that you could apply to pitch your fund to for free? For myself, I've been lucky.

LP 97

LP Venture Capital Technical Review Nebraska 97

Hearpreneur

NOVEMBER 24, 2018

Her responsibilities included: strategic counseling, business modeling and deal negotiation for the various for medical startups in the portfolio and is a limited partner at NGT3 Medical Accelerator in Israel. Sablotsky continued her professional career as Vice-President of Portfolio Development for Jacobs Investments, LLC.

Founder 91

Founder Israel Miami Cofounder 91

ReadWriteStart

JULY 19, 2023

Initially, they assumed that venture capital and investing in funds were common knowledge among potential limited partners (LPs). Karsybaev and Nurgozhin initially encountered challenges in educating potential limited partners (LPs) about venture capital investment.

Kazakhstan 92

Kazakhstan Montana Venture Capital Miami 92

Gust

MAY 7, 2014

The general partners of a venture capital fund make money… …by raising the bulk of the capital that the fund’s investable capital from “Limited Partners”, usually institutions such as university endowments, insurance companies and pension funds. This is the money that is invested into the startups.

Venture Capital 154

Venture Capital IPO Limited Partner Carried Interest 154

VC Cafe

MAY 18, 2023

Thou Shalt Love Thy Limited Partners as Thyself : Treat your LPs with respect and transparency. They are more than just a source of capital; they are your partners in this journey. Thou Shalt Not Commit Adultery…With Shiny New Trends : Don’t get distracted by every shiny new trend.

Venture Capital 78

Venture Capital Due Diligence Exit Strategy Deal Flow 78

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

YoungUpstarts

JUNE 13, 2020

Try keep everything friendly when going bankrupt with partners, but don’t dissolve the partnership and leave the business in the hands of a single proprietor. Limited Partner. This category is going to cover limited liability companies and corporations, as well as limited partnerships. You know what happens then.

Bankruptcy 207

Bankruptcy Limited Liability Company Finance Limited Partner 207

Both Sides of the Table

MARCH 1, 2016

At the Upfront Summit in early February, we had a chance to have many off-the-record conversations with Limited Partners (LPs) who fund Venture Capital (VC) funds about their views of the market.

Venture Capital 150

Venture Capital LP Silicon Valley Marketing 150

Steve Blank

FEBRUARY 3, 2011

Their fiduciary responsibility was to manage a portfolio of investments for their limited partners. At the end of the day VC’s have to provide their limited partners with great returns or they aren’t going to be able to raise another fund. If you succeed so do they.

San Francisco 333

San Francisco Silicon Valley Limited Partner Venture Capital 333

Agile VC

JULY 26, 2019

sometime back in 2010 or early 2011) one of the limited partners we met with asked us what our “favorite future” was for NextView. Another phrase we use internally at NextView pretty often is that of a “favorite future”. Early in NextView’s history, when we were raising our first fund (e.g.

Limited Partner 100

Limited Partner Founder Partner Startup 100