The Continued Growth of Venture Buyouts – an Updated Perspective
January 21, 2021 3:03 pmIntroduction In late 2018, Industry Ventures published a white paper on the evolution of the software buyout landscape and the...
Categories for Blog
The Impact of COVID-19 on VC Funds
April 21, 2020 12:54 am Leave your thoughtsTo better understand the impact of COVID-19 and its related government mandates on the venture capital industry, we surveyed our universe of venture funds. Nearly all respondents were VC fund CFOs or General Partners. The goal of this survey was to gauge the venture capital-related economic impact of COVID-19 and its associated government regulations, and how the consequent actions of industry stakeholders are affecting the VC space. The data that we collected suggests that these various elements are driving the following trends in our industry:
How Big is the Secondary Market for Venture Capital?
October 25, 2019 10:23 pm Leave your thoughtsBy Hans Swildens, Victor Hwang, and Nick Laszlo “How big is the market?”, a question we are commonly asked due...
White Paper: Small Tech Buyout – The Fourth Exit Option
October 23, 2018 4:47 pm Leave your thoughts
Monetizing Venture Round Access Through SPVs
February 6, 2018 4:45 pm Leave your thoughtsAt a basic level, venture capital success comes down to the quality of sourcing, selection, access, value-add, and the exit....
Even on the Way Out, Investors Deserve a Manager’s Empathy
August 24, 2017 8:00 am Leave your thoughtsWe were taught as children about the golden rule: treat others as one would expect to be treated. Sometimes we...
Secondary Funds – Venture Capital and Private Equity Update
March 3, 2017 9:15 pm Leave your thoughtsIn our last article, “The Venture Capital Risk Matrix,” we reviewed targeted return profiles for direct venture capital and fund...
The Venture Capital Risk and Return Matrix
February 7, 2017 9:13 pm Leave your thoughtsOne of our venture fund managers recently asked, “When you invest, what is a good expected return?” After thinking about...
Winning by Losing in Early-Stage Investing
December 20, 2016 9:12 pm Leave your thoughtsOne of our limited partners recently asked, “What are the normal failure rates for early-stage venture capital investments?” After digging...
A Graceful Exit – Managing Shareholder and Limited Partner Liquidity
September 20, 2016 8:27 pm Leave your thoughts“There’s a trick to the ‘graceful exit,’” Washington Post columnist Ellen Goodman once said. “It begins with the vision to...
The Elephant in the Room: Hedge Funds and Mutual Funds
May 23, 2016 6:50 pm Leave your thoughtsWhen mutual funds and hedge funds cough, venture capital catches a cold. Between them, U.S. mutual and hedge fund managers...
Limited Partner Secondaries and Signals of Defaults
February 8, 2016 6:47 pm Leave your thoughtsThe recent stock market correction and ongoing volatility signal that another cycle of increased secondary volume driven by Limited Partner...
Venture Special Purpose Vehicles—No Longer Just for Unicorns
January 26, 2016 6:32 pm Leave your thoughtsSpecial Purpose Vehicles (SPVs) for the 140 late-‐stage “unicorns” are cooling from their white hot run in the wake of...
Selling Private Company Shares 2.0
October 14, 2015 6:31 pm Leave your thoughtsCongratulations, you now own stock in a private company… but can you sell any of it? The considerations that go into answering this...
Why do you back new venture capital fund managers?
September 4, 2015 6:30 pm Leave your thoughtsIn one sentence – “We back new managers when there is a great risk reward imbalance.” Our effort to invest...
Back at the Table: Public Market Investors Return to VC
July 1, 2015 6:28 pm Leave your thoughtsAfter a prolonged absence, investors more traditionally focused on the public markets have recently played an increasing role in venture...
The Art of the Corporate VC Divestiture
April 16, 2015 6:26 pm Leave your thoughtsCorporate venturing dates back to the 1930s and is one of the oldest forms of venture capital. In those years,...
The New Normal: Secondaries and the 409A Valuation Process
February 24, 2015 6:25 pm Leave your thoughtsTimes have changed in the burgeoning private secondary market. We are increasingly asked by companies: what are the effects of...
Time’s Up! Options for VCs & LPs When Funds Reach the End of Their Term
January 27, 2015 6:24 pm Leave your thoughtsThe tech boom in the late 1990’s led to a rapid increase in venture investment, with over 400 new funds...
Employee liquidity – good for private companies?
December 2, 2014 6:22 pm Leave your thoughtsStartup employee stock sales were once considered “selling out” and sought only by employees who were no longer involved in...
Small Funds and the Pro Rata Right
November 11, 2014 6:20 pm Leave your thoughtsIn our previous post we discussed our view that small venture funds were right-sized to generate attractive returns in venture...
The Case For Small Venture Funds
October 14, 2014 10:11 am Leave your thoughtsA healthy IPO market and the prevalence of large growth rounds for private, venture-backed companies at lofty valuations have signaled...