Both Sides of the Table

SEPTEMBER 29, 2013

If you track the venture capital industry it would be hard to miss the conversation going on this week over AngelList “Syndicates.” My favorite new VC blogger, Hunter Walk, weighed in with some thoughtful comments about how Syndicates might actually pit, “ angel vs. angel.” Must be doing something right!

Syndicate 356

Syndicate Syndication Cofounder Early Stage 356

David Teten

DECEMBER 3, 2019

In liquid markets, most of the calories expended on technology and analytics are focused on trade selection, or “ origination ”. I use another live Google doc to maintain my database of companies I’m marketing to other VCs. 2) Market . Many tools designed for B2B marketing in general are also relevant to investors.

Technical Review 78

Technical Review Software Review Analytics Private Equity 78

View from Seed

MAY 29, 2019

Historically, seed rounds were syndicated among several different firms. Today, we are seeing less syndication of seed rounds and sharper elbows among many of the funds in the market. Instead of broadly syndicated rounds, we are seeing much more competition for fewer slots. These two forces go hand in hand.

Syndicate 267

Syndicate Syndication Cofounder Cap Table 267

David Teten

JANUARY 19, 2021

The value ascribed by subsequent investors (in a secondary); buyers (acquisition); or the public markets (IPO). Coinvestors: Flexible VC terms have not been standardized, which may make the investment harder to syndicate. On average, founders own just 43% of equity by Series B , declining thereafter. Volatile, uncapped. Retain 100%.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

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. Perhaps you run a widely syndicated startup newsletter where the best companies have been subscribers for years.

Deal Flow 147

Deal Flow Syndicate Syndication Cap Table 147

David Teten

SEPTEMBER 23, 2017

The extreme example of this are algorithmic investors in the public markets, who design algorithms which trade on the designer’s behalf, as opposed to making trading decisions directly. High-frequency trading, algorithmic by its nature, is estimated to account for at least 50% of US equity markets trading volume. . 1) Market fund.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

David Teten

JULY 12, 2017

GPs strategically invite trusted [Limited Partners and others] to co-invest, often based on the LP’s ability to add value or when the amount of capital required to complete an attractive transaction is larger than they are able to invest alone.”. Fundraising is burdensome.

Syndicate 60

Syndicate Syndication Institutional Investors LP 60