Steve Blank

NOVEMBER 7, 2023

Eventually you’ll need to build an in-house team to manage regulatory affairs. Having a meeting or two with a congressman or contributing to their campaign might get you a return call, but only sustained engagement (via money, influence, and an on-the-ground presence in D.C.) will move the needle.

Washington 316

Washington Government Marketing Silicon Valley 316

This is going to be BIG.

FEBRUARY 23, 2016

Either way, VC funds aren't really built around creating much of an experience for their Limited Partners. Rather than see LP interactions as a chore or a burden, new fund managers should see this as an opportunity to extend the community around their fund. For smaller funds, I think this is a real mistake.

Limited Partner 60

Limited Partner Venture Capital Partner LP 60

David Teten

MAY 16, 2017

Historically, the process of winning capital from limited partners has been opaque. A few years ago, I presented at an Invesco conference on Emerging GPs, and one of the highlights was a presentation by Laurie Weir summarizing CALPERS’ selection criteria under their Private Equity Emerging Manager Program Review.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

David Teten

DECEMBER 3, 2019

But in business, you want a lot of partners. However, in private markets, there is more room to optimize across all 11 steps of the investing process: firm management , marketing, fundraising , origination , manage relationships, due diligence, negotiation, monitoring, portfolio acceleration , reporting, and. 2) Market .

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Hunter Walker

SEPTEMBER 12, 2024

If you take the time to build the right relationships with the right partners, we’re all here to lift each other up. Firms with very large funds make a lot of money for themselves in management fees before realizing returns. Those incentives are often misaligned with the interests of founders and limited partners.

Venture Capital 66

Venture Capital Technical Review Early Stage Warrant 66

David Teten

JANUARY 19, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. As two fund managers employing Flexible VC, we think it is a healthy addition to the ecosystem and will yield more predictable and stable healthy returns for investors. Novel Growth Partners, Lighter Capital, Rev Up, Corl, Flow Capital. Of the Inc.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Both Sides of the Table

FEBRUARY 20, 2019

just having a sparring partner with a vested interest in your success can be useful. The Limited Partners (LPs) who back funds don’t expect their dollars to be passive. But gone are the days where VCs put dollars into companies and ask founders to step aside quickly so that the VC can install their favorite management team.

Venture Capital 236

Venture Capital Startup Angel Investor Silicon Valley 236

David Teten

SEPTEMBER 23, 2017

PEVCTech is partnering with Blue Future Partners to run the first large-scale survey of VCs’ technology stack. Johann Kratzer of Blue Future Partners , a fund of funds, observed, “The majority of the hundreds of funds we’ve diligenced rely predominantly on their relationships to source deals. Greylock Partners.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

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

This is going to be BIG.

MAY 12, 2014

management fee. It''s only a little bit of a performance drag, though, because management fees act like a loan. You charge your limited partners this, but you have to pay it back before you start taking a cut of the profits. If you''re looking to make a lot of dough in the short term, microVC isn''t for you.

Investment Bankers 167

Investment Bankers Term Sheet Venture Capital Technical Review 167

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. Most LPs are trying to manage some targeted asset allocation. And over time, if VC is performing well, the LP may actively manage up their allocation to venture. LP Constraints.

LP 256

LP IRR Distribution Portfolio 256

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

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. That’s fine, because that’s just not the case for most managers, so there’s no real harm in not having it. Not the case?

Deal Flow 147

Deal Flow Syndicate Syndication Cap Table 147

David Cohen

SEPTEMBER 13, 2019

She told me that most of her Limited Partners (investors in her fund) didn’t seem to care about the frequency of capital account statements. The post Micro-VC fund management and capital account statements appeared first on Hi, I'm David G.

Management 90

Management Limited Partner .Net Finance 90

David Teten

DECEMBER 12, 2017

(written by Philipp von dem Knesebeck , Managing Partner, Blue Future Partners (bluefp.com, @bluefutureteam ), and David Teten ). Based on this paper, Blue Future Partners and PEVCTech recently completed a large-scale survey to find out which tools are most commonly used by venture capital firms.

Early Stage 60

Early Stage Technical Review Software Review Venture Capital 60

Both Sides of the Table

APRIL 2, 2010

It in not uncommon to see a VC talk about “total assets under management&# as in “We have $1.5 billion under management.&# I don’t really understand why VCs do this since it’s mostly a meaningless number. What is total assets under management? - So VCs often raise money every 3-5 years if they can.

Venture Capital 269

Venture Capital Balance Sheet Early Stage Software Review 269

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). and the bigger funds can’t get in directly.

Technical Review 398

Technical Review Venture Capital Valuation Pre-Money Valuation 398

Berkonomics

AUGUST 10, 2023

From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering. They tolerate you and your management when the numbers are a bit murky but with an explanation that is believable and correctable.

Liquidity Event 116

Liquidity Event Initial Public Offering Dividend Valuation 116

The Next Web

MARCH 8, 2014

Jason Lemkin is the Managing Director at Storm Ventures , a venture capital firm focusing on early-stage enterprise and IT companies, including MobileIron , Marketo and GuideSpark. Second, to pay salaries and expenses, venture funds typically charge a 2 percent management fee. Until then, there are no profits to the VC partners.

Partner 138

Partner Burn Rate Early Stage IPO 138

David Teten

JANUARY 9, 2018

A friend of mine interviewed for a job with massively successful hedge fund manager Steven A. a “Bitcoin Fund”, a “Social Media Fund”, a “Nanotech Fund”), you’re going to raise capital from Limited Partners who are very focused on Theme X. – Thoughtful fund management. The result is a poorly managed organization.

Venture Capital 60

Venture Capital Private Equity Silicon Valley Differentiation 60

David Teten

JANUARY 9, 2018

A friend of mine interviewed for a job with massively successful hedge fund manager Steven A. a “Bitcoin Fund”, a “Social Media Fund”, a “Nanotech Fund”), you’re going to raise capital from Limited Partners who are very focused on Theme X. – Thoughtful fund management. The result is a poorly managed organization.

Venture Capital 60

Venture Capital Private Equity Silicon Valley Differentiation 60

David Teten

AUGUST 19, 2019

John Borchers, Co-founder and Managing Partner of Decathlon Capital, claims to be the largest revenue-based financing investor in the US. Feenix Venture Partners has a unique investment model that couples investment capital with payment processing services. However, according to Bryce Roberts, co-founder of Indie.VC, only 0.6%

Revenue 60

Revenue Term Sheet Founder Technical Review 60

David Teten

AUGUST 19, 2019

Since 2017 we’ve managed $3 million in revenue-based financing, which helps cash-strapped technology companies grow. In 2019 we partnered with several revenue-based lending providers, effectively creating a marketplace. “. Alternative Capital. “ You qualify if you have $5k+ MRR. Bigfoot Capital.

Revenue 60

Revenue Technical Review Software Review Equity 60

Growthink Blog

MAY 14, 2014

The result has been a “regression to the mean” - with alpha performance by fund managers being driven as much by randomness and luck (as it has been with public market mutual funds for decades) as by coherent design. With now over one thousand active U.S. This all costs money. So what to do?

Venture Capital 101

Venture Capital Disintermediation Technical Review Term Sheet 101

David Teten

JANUARY 11, 2020

They’re taking a $1m check from me, or giving $5m to me as a limited partner. Other coinvestors: Limited partners, other VCs who are coinvestors, private equity funds which are potential growth-stage investors, etc. Google My Business , which helps me manage my Google presence. . I welcome suggestions.

Social Media 60

Social Media Technical Review Media Private Equity 60

Eric Friedman

AUGUST 18, 2021

He is also co-founder and Managing Partner of Deciens Capital, an early stage investment fund. As many of your listeners may know, there was an incredible piece published by a gentleman from Founders Fund, discussing Tiger [Global Management] and how they’re focused on the speed and scale business. On Sushi and VC.

Silicon Valley 88

Silicon Valley Venture Capital Cofounder Africa 88

Hunter Walker

SEPTEMBER 11, 2024

Called “LPs” or Limited Partners. 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. I’ve always thought about it a bit differently: LPs are my partners, not my customers.

Venture Capital 67

Venture Capital LP Limited Partner Green 67

David Teten

JULY 25, 2017

We have lower AUM, therefore lower management fees. We think coaching is a key lever for doing this, with our own team or through outside partners. If you know someone offering these services today, and/or are interested in partnering with us to deliver them, please contact me. . I’ve listed a few ideas below.

Portfolio 60

Portfolio Technical Review Private Equity Database 60

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. original post can be found on Quora @ [link] *.

Venture Capital 154

Venture Capital IPO Limited Partner Carried Interest 154

YoungUpstarts

JANUARY 9, 2020

In a partnership, the partners share ownership of and responsibility for the financial well-being of the enterprise. When you are planning to file your taxes as a partnership, it is important to get on the same page with your business partners and co-founders. In most cases, a single partner cannot complete this tax process alone.

Cofounder 147

Cofounder Private Equity Partner Limited Partner 147

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. But both seed investors and LPs alike agree that as long as these programs are managed sensibly, their existence is useful.

Venture Capital 150

Venture Capital LP Silicon Valley Marketing 150

This is going to be BIG.

OCTOBER 5, 2012

They didn't care about you when you needed commercial credit, but now--now they want to manage your money. The problem is that there are fantastic opportunities out there with completely trustworthy managers. You've never dealt with these expensive suit Wall Street types and don't want to. Welcome to family office investing.

LP 97

LP Venture Capital Technical Review Nebraska 97

Both Sides of the Table

JUNE 29, 2017

This brings our combined funds under management to nearly $2 billion. A huge thank you to all of the Limited Partners who have entrusted us with your capital, time and reputations. Upfront’s Base As you probably know we are based in Santa Monica and as my partner Greg Bettinelli coined, we’re #LongLA.

Los Angeles 287

Los Angeles Las Vegas Venture Capital San Francisco 287

Both Sides of the Table

FEBRUARY 25, 2019

I work hard to create working relationships with my fellow non-management board members in the same way that every investor ultimately works to develop strong working relationships with founders. Every year I invited my largest investors to NYC to have an LPAC meeting (Limited Partner Advisory Committee?—?kind

LP 269

LP Startup Burn Rate Stock Options 269

This is going to be BIG.

JUNE 15, 2020

In venture, it’s all about getting an opportunity to make partner and being included in the carry—the economic upside of a fund. If firms held back the economics, keeping things only for partners who were growing long in the tooth, some of the best new investors they had would bolt for other firms or start their own.

Venture Capital 131

Venture Capital Institutional Investors Later Stage Limited Partner 131

This is going to be BIG.

FEBRUARY 21, 2019

A lot of VC fund pitches—and I know this because I used to vet VCs for a living as an institutional limited partner at a pension fund—sound the same. If they haven’t done this math, they shouldn’t be managing your money. What risks have you taken that others haven’t—and why did you think they were worth taking?

Accredited Investor 106

Accredited Investor Term Sheet Deal Flow .Net 106

ithacaVC

JANUARY 10, 2012

One of my students just asked me what a “Venture Partner” is in the context of a venture capital firm. I quickly typed in “venture partner” into the Wikipedia query box. So, then I typed “venture partner definition” into the Google search box. No results. Kind of surprised me. Examples: 1.

Partner 49

Partner Carried Interest Caching Harvest 49