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17 results for “venture returns”
...venture booms again, but the odds of systematically finding firms that are consistently producing 20% plus returns and the occasional 80% returning fund, it's gonna be very, very hard for that to happen with any regularity. On the venture side, on th
53:15 / 54:20
from transcript53:15 – 54:20
...Tomorrow Ventures, how many funds have you raised so far? We're investing out of our second fund now. We'll soon be investing out of our third fund. Okay. So you're only a few years old. I know it may be too early to have a lot of exits, but have you
13:30 / 14:32
from transcript13:30 – 14:32
But if you're pre seed, like you're running an accelerator, you are investing at but a $1,700,000 valuation as Y Combinator, Techstars, or ourselves, the Launch Accelerator, or in our founder university program, even 1,000,000. So we will expect 40%
23:03 / 24:16
from transcript23:03 – 24:16
Few years later, that company returned 70% of the capital back. Good news is the founder was good, disciplined, did not waste capital, so we got 70%. Some other founder could have actually drowned the whole capital. We could have got zero. So so I th
42:02 / 43:10
from transcript42:02 – 43:10
It would be an acquihire. So there wasn't that much downside in our in our case. And then all the data started lining up the right way after us. The check after us less than a year later, it was $40,000,000 from Bessemer and F Prime. We used to own 1
23:59 / 25:00
from transcript23:59 – 25:00
Anytime, but as early as possible. So one of the things you won't be surprised by this, we're pretty obsessed with our entire portfolio, so we have an ongoing sort of entire portfolio going on in the background. Two years in, when we reviewed it, the
36:00 / 36:59
from transcript36:00 – 36:59
“If you knew which startups would win, why invest in losers?”
that I've run into because there's a certain win rate you're gonna have on any individual investment. And I I do believe it's just hard to know in advance. You do your best, but it's hard to know what
1:40 / 2:13
framework1:40 – 2:13
investments is a crazy amount. I wanna come back to your time at Microsoft probably later on and talk in more depth about strategy. But given the sheer volume of investments that you've made, I think a great place to begin our conversation is your id
7:26 / 8:47
from transcript7:26 – 8:47
...big venture fund in with us on this company, wrote it off. Weirdly enough, still turned them to the board so they wouldn't give up their board seats, so they wouldn't get recapped. So they defended themselves, but they wrote zero additional check. An
27:45 / 28:45
from transcript27:45 – 28:45
and it tends to not generate outcomes in the short term, but then end up generating exponential type progress in the outer years. Mhmm. What is harder to say is, you know, is there a turning point where we just know? And I think the the the truthful
5:20 / 6:23
from transcript5:20 – 6:23
...part of of venture in a way that I think is very difficult for people that are not in startups to understand. When you're in an industry that expects to miss nine out of 10 bets, the waste is not a bug. It's a feature. Yeah. I guess, this is such an
6:44 / 7:47
from transcript6:44 – 7:47
...for the venture, and then that then allows our companies to accelerate. If you look at companies like Wiz, Island, Fireblocks, Snowname, Sierra, Avalok, or you know, all those companies, they manage to get to significant revenue, significant ARR in t
29:59 / 31:11
from transcript29:59 – 31:11
...returns could be through the faster use of leverage. It could be through cost cutting. It could be through lots of different acquisitions and consolidations. And the best of those firms also generate good returns, but I think much more through financ
14:50 / 16:01
from transcript14:50 – 16:01
to most macro question, is it working? Are we seeing investment opportunities that high quality firms are looking at and doing? And are some of those that we convert, Are we winning our fair share of deals or disproportionate fair share of deals? And
40:39 / 41:39
from transcript40:39 – 41:39
And and that is actually what is manifest. Because when I look at our data from the last ten year period going back to our fund five, which is a 2016 generation fund, the failure rate that we've had in that fund and the successor funds six is remarka
2:58 / 4:03
from transcript2:58 – 4:03
...venture firms would attract the best entrepreneurs. They had the best corporate relationships. They could hire the best partners. If you're an entrepreneur needing help with your startup and capital and you'd look around and say, this group backed th
8:58 / 10:02
from transcript8:58 – 10:02
...have venture booms again, but the odds of systematically finding firms that are consistently producing 20% plus returns and the occasional 80% returning fund, it's gonna be very, very hard for that to happen with any regularity. On the venture side,
53:56 / 55:02
from transcript53:56 – 55:02
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