This is going to be BIG.

OCTOBER 5, 2012

Thanks to the SEC, you don't know who's actually fundraising, what kind of performance they have, and you'll never get reached by their marketing. I know how hard it is myself because I used to vet VCs for a living when I was on the insitituional LP side. The whole thing is setup to fail. For myself, I've been lucky.

LP 97

LP Venture Capital Technical Review Nebraska 97

Both Sides of the Table

OCTOBER 12, 2014

Prorata rights are one of the most important rights of a private market technology investors and yet are seldom fully understood. Because companies are raising way more capital in private markets than they ever did in the past. Why prorata rights are now sought out by LPs. And sometimes they take part of their prorata right.

Technical Review 336

Technical Review Later Stage Early Stage LP 336

VC Cafe

FEBRUARY 27, 2023

Taking stock of the venture capital market in 2023, it’s clear to see that we’re in a transition point. In today’s market, I believe small is beautiful, and that specialisation matters. 2023 will be one of the best VC seed vintages, but most institutional LP's are not leaning in. Support emerging managers.

Venture Capital 215

Venture Capital Technical Review LP Institutional Investors 215

Both Sides of the Table

SEPTEMBER 29, 2013

I had a chance to discuss AngelList Syndicates with Naval at Michael Kim’s Cendana LP/VC conference on a panel with Naval, Roger Ehrenberg (IA Ventures) and Mike Brown, Jr. Many of the good and great of our industry are talking about AngelList. Must be doing something right! Bowery Capital). and much more. AngelList does this.

Syndicate 356

Syndicate Syndication Cofounder Early Stage 356

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

David Teten

JANUARY 23, 2021

I’ve been fortunate to be a Partner at two different VC firms over the past 9 years, and we’ve grown AUM 10X both times. Build the firm as much as possible before you solicit limited partners. . The next best move is to build your core team, e.g., recruit an Advisory Board, Venture Partners, and EIRs. Lastly, gather feedback.

Private Equity 78

Private Equity Venture Capital Technical Review Software Review 78

Both Sides of the Table

FEBRUARY 20, 2019

just having a sparring partner with a vested interest in your success can be useful. In 2019 market conditions often are such that founders retain control of the board through the A-round, usually in a 2–1 (common to investor) ratio but sometimes it’s 3–2 (common to investor). If you get a smart person on the board?—?just

Venture Capital 236

Venture Capital Startup Angel Investor Silicon Valley 236

Hunter Walker

JANUARY 5, 2014

The Stage 1 partner escalates an opportunity to Stage 2 when we’ve been able to create a hypothesis as to why this might be a good investment. That partner also generates a set of questions for the other partner to push on in their discussions and data requests. Oh, your top priority right now is a marketing hire?

Software Review 124

Software Review Balance Sheet Cofounder Technical Review 124

David Teten

JUNE 1, 2011

High Road Capital Partners Deal Sourcing Keynote. Fitzsimmons, High Road Capital Partners. Deal aggregation websites Increasing in popularity, trying to increase market efficiency. Flow is a function of reputation and share of mind in target market. Benchmark yourself to overall market activity. Intermediaries.

Private Equity 122

Private Equity Deal Flow Equity Developer 122

View from Seed

JANUARY 27, 2021

We believe that this fund is the perfect size for us to be the best possible partners to early-stage entrepreneurs today. What hasn’t changed is that our heart lies in working with founders to find product/market fit and to begin to grow. Because of this, we are always grateful to all of our LPs for their trust.

LP 411

LP Early Stage Seed Stage Venture Capital 411

David Teten

DECEMBER 3, 2019

But in business, you want a lot of partners. In liquid markets, most of the calories expended on technology and analytics are focused on trade selection, or “ origination ”. In the private equity universe, most Partners have primary training as deal-makers, not as managers. 2) Market . 1) Manage the firm .

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

Babbling VC

OCTOBER 3, 2011

Fortunately, for those of us in the market long enough, it's actually good news. 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. This for me is a no-brainer.

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 76

Founder LP Technical Review Seed Stage 76

David Teten

AUGUST 15, 2013

Most VCs (including ff Venture Capital ) collect money from independent limited partners in order to form their fund. Some corporations emulate this model by creating their own wholly-owned VC entities, typically with one LP: the corporate balance sheet. 1) Corporate Venture Capital. 4) Accelerators.

Startup 114

Startup Technical Support Venture Capital Balance Sheet 114

David Teten

MAY 16, 2017

Historically, the process of winning capital from limited partners has been opaque. LIMITED PARTNERS’ PERSPECTIVE. Chris Douvos is one of the very few LPs who blogs, at SuperLP.com. Origins is a podcast about Limited Partners, created by VC Notation Capital. Sapphire Ventures’ Top 10 tips for pitching an LP .

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

VC Cafe

SEPTEMBER 5, 2024

They wear multiple hats: investor, marketer, recruiter, and more. Example: Emerging managers handle everything from deal sourcing to LP communications to social media in-house. Stay Agile and Evolve Emerging managers must be ready to pivot their investment thesis as markets change.

Management 103

Management Technical Review Venture Capital Generative AI 103

VC Cafe

APRIL 29, 2020

Proptech is one of the few exceptions to this, with most companies falling within the moderate impact category, due to the current freeze on the property market. I might go deeper on other European markets in a future post. As Bloomberg’s report states, just because you CAN apply, doesn’t mean you SHOULD.

Israel 124

Israel SBA Technical Review Startup 124

View from Seed

SEPTEMBER 23, 2020

At first glance, you’d think that all LPs pretty much want to buy the same thing. Every fund pitching an LP is pitching this as a baseline. And yet, LP’s get to “yes” in a few cases and get to “no” in most cases. Some LPs are buying access to direct investment opportunities. That’s kind of a given, but it’s insufficient.

LP 309

LP Customer Early Stage Portfolio 309

Haystack

JULY 20, 2018

Yes, the concentration of entrepreneurial founding and management talent is here in the Bay Area, but so too is lots of private money, more and more large platforms which continue to grow in market share. I sort of feel mentored by Fred via his blog, which is pretty remarkable for just writing words on the web and sharing them.

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

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

David Teten

APRIL 13, 2021

Thus, many LPs have outsourced their investment management processes to professional investment consultants (ICs). Here lies the two degrees of separation: the agent must get to the IC, who in turn must get to the LP. Limited partner checklist for evaluating funds. Positions your fund as just one option on the menu. .

Private Equity 60

Private Equity Technical Review Management LP 60

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.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

David Teten

JANUARY 21, 2021

(co-written with Jamie Finney, Founding Partner at Greater Colorado Venture Fund. The founders, LPs, and venture partners have a long history in local startup ecosystems in the Southeast including LaunchTN , The Company Lab , CoStarters , and several other regional funds and resources. —– Indie.vc

Equity 78

Equity Revenue Cofounder Colorado 78

Both Sides of the Table

MAY 6, 2015

As an active investor in the Los Angeles technology market we’re always seeking to better understand the data and trends of why our market has grown so rapidly since 2009. The report on the LA Tech Market can be found on this link. It will also serve as home to our partner blogs and to our company announcements.

LP 150

LP Los Angeles Marketing Partner 150

The Equity Kicker

MARCH 19, 2012

The LP Update Meeting. I’m just back from our semi-annual update to the LPs in one of our funds, and I thought I would share the experience with you all. As a reminder, LPs, or limited partners, are the investors in venture capital funds. Market update. It was published last Thursday.

LP 97

LP Europe Portfolio Private Equity 97

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. There are several Homebrew investments going to market for their Series A this year. In bull markets we’re told to expect a seed failure rate of ~40% and closer to 50% in typical markets.

LP 112

LP Cofounder Term Sheet Valuation 112

BeyondVC

JUNE 29, 2005

I am not sure how many entrepreneurs understand the structure of venture capital funds but the bottom line is that while VCs manage funds, we ultimately report to our investors or Limited Partners (LPs). It is not our money, and we have a fiduciary responsibility to manage it properly and generate the returns our LPs expect of us.

LP 78

LP Private Equity Due Diligence Venture Capital 78

Both Sides of the Table

FEBRUARY 25, 2019

this requires a strong knowledge of market data, employee performance, company performance relative to market and available resources?—?cash Every year I invited my largest investors to NYC to have an LPAC meeting (Limited Partner Advisory Committee?—?kind 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

View from Seed

MAY 29, 2019

Today, we are seeing less syndication of seed rounds and sharper elbows among many of the funds in the market. This segment of the market is basically mirroring other segments of the venture ecosystem which has operated this way for some time. Similarly, the seed market is beginning to look like this too.

Syndication 267

Syndication Syndicate Cofounder Cap Table 267

Both Sides of the Table

SEPTEMBER 28, 2011

I spent time today negotiating it with him and getting my partners bought into some changes. We call these investors “LPs” for limited partners. I had lunch with an LP. Marketing. Any of my partners or portfolio companies can attest otherwise. He turned me down for a job in 2005.

Email 314

Email Product Term Sheet Portfolio 314

Both Sides of the Table

FEBRUARY 6, 2019

Yes, VC / Startup Funding is up Massively If you look at how much VC firms have raised from Limited Partners (LPs) over the past 2 decades you’ll see that we’ve returned to a level that we haven’t seen since 1999. Companies are raising billions of dollars in the private markets and the valuations are enormous PRIOR to the IPO.

Venture Capital 292

Venture Capital IPO Mezzanine Early Stage 292

Feld Thoughts

JULY 31, 2014

In addition to being an incredibly supportive investor in us from the beginning, this LP has become an extremely close friend. As I was walking home after dinner, I thought about the person who had introduced us to this LP. In early 2006, my partners at Mobius and I decided not to raise another fund.

LP 156

LP Advisory Board Venture Capital Early Stage 156

Both Sides of the Table

SEPTEMBER 14, 2016

We capped our fund size so that we would stay true to our investment strategy in terms of size, scope and number of partners as we stood in 2014 when we raised the fund. She has formerly worked at a VC fund (DFJ) and worked closely with the partners and the network at DFJ and knew what it was like to build, manage and evolve a VC partnership.

LP 150

LP Entrepreneur United States Venture Capital 150

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

BeyondVC

JUNE 29, 2005

I am not sure how many entrepreneurs understand the structure of venture capital funds but the bottom line is that while VCs manage funds, we ultimately report to our investors or Limited Partners (LPs). It is not our money, and we have a fiduciary responsibility to manage it properly and generate the returns our LPs expect of us.

LP 60

LP Private Equity Due Diligence Venture Capital 60