Remove 2009 Remove board Remove financing
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Here’s Why a Booming Tech Market May Fool You into Thinking You’re Successful

Both Sides of the Table

Since 2009 we’ve been in an unequivocal bull market. We’ve had an explosion of alternate sources of financing from crowd-sourcing, angels, accelerators, incubators, corporates, corporate incubators. Make sure your board challenges you enough about long-term vision & innovation. That’s management by fire.

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This Week in VC Episode 6 with @Jason Calacanis: Best One Yet

Both Sides of the Table

Clearly a startup should consult its lawyer before filing or not filing.But the attorneys I relied on to write this piece told me that they’ve done lots of Section 4(2) deals in the past, and would recommend it to clients who had relatively simple financing agreements (not tranched-out, not too many investors, etc.) Short answer: no.

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Praying to the God of Valuation

Both Sides of the Table

Almost no financings, many VCs and tech startups cratered for the second time in less than a decade following the dot com bursting. Starting in 2009 I began writing checks consistently, year-in and year-out. During this era, from 2009–2015, most founders I knew were in it for building great & sustainable companies.

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Upfront Ventures Raises > $650 Million for Startups and Returns > $600 Million to LPs

Both Sides of the Table

If I look back to the beginning of the current tech boom which started around 2009, we often wrote a $3–5 million check and this was called an “A round” and 12 years later in an over-capitalized market this became known as a “Seed Round” but in truth what we do hasn’t changed much at all.

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What is it Like to Negotiate a VC Round?

Both Sides of the Table

I am reminded of this problem every time my firm does a financing where a note went before us but more specifically I was reminded by this great post by Brad Feld to talk about the pre-money vs. post-money conversion issue. This was until about 2009 because most the investments in companies came from one, maybe two, sources.

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The Great VC Ice Age is Thawing (for now) – Part 1 of 3

Both Sides of the Table

I would argue that the shut-down of September 2009 was equally severe yet there are signs that this “VC Ice Age” has begun to thaw. It helped me avoid chasing deals (and a house) in 2007/08 and it led to GRP’s fastest pace of investment in many years in the first three quarters of 2009 at a time when many others weren’t investing.

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How Venture Funding For Early-Stage Startups Will Change During the COVID-19 Crisis

Dream It

In 2008-2009, the financial markets seized up, and there were quarters of complete uncertainty, but ultimately VCs started investing again and things normalized. The crisis began in August 2008, but by March 2009, deal activity in venture had picked up again and economic activity in the venture ecosystem normalized.

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