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Founder Led Companies

A VC: Musings of a VC in NYC

I remember about fifteen years ago, a well-known VC said to me “you need to sell a company within a few years of the founder leaving. Companies can’t sustain their innovation after a founder leaves.” ” I told that VC that my experience has been different on that measure and that I did not agree.

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What Does the Post Crash VC Market Look Like?

Both Sides of the Table

Should SaaS companies trade at a 24x Enterprise Value (EV) to Next Twelve Month (NTM) Revenue multiple as they did in November 2021? Pitchbook estimates that there is about $290 billion of VC “overhang” (money waiting to be deployed into tech startups) in the US alone and that’s up more than 4x in just the past decade.

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VC Investor Relations

A VC: Musings of a VC in NYC

I realized a long time ago that the VC’s customer is the founder/CEO/portfolio company and that our investors (called LPs in VC speak) are our “shareholders” That was a very defining moment for me and has clarified what matters the most in a VC firm. That can work too. It has worked well for us.

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The Rise Of Everywhere

A VC: Musings of a VC in NYC

This is a theme I have come back to many times over the last decade but in the wake of all of the headlines about high profile founders, VCs, and companies leaving the bay area, I thought I would return to it. I am not saying that founders will stop traveling to raise money, although I think that may stick post-pandemic.

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The Vision Thing

A VC: Musings of a VC in NYC

A well-known entrepreneur turned VC, who will go unnamed because I am not sure he would want me to share this conversation publicly, once told me “if you remove a founder, you must sell the company within a couple of years or it will start to decline in value.” Most are not. It has to come from the top.

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African tech took center stage in 2021

TechCrunch

Entering 2021, the bullishness of African tech stakeholders returned — and why not? Stephen Deng, the co-founder and partner of DFS Lab, a firm that invests in digital commerce startups, serially compared the 2016 Southeast Asia funding landscape to where Africa might be in 2021, at $3 billion. billion and $2.8

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Praying to the God of Valuation

Both Sides of the Table

Between 2006–2008 I sold both companies that I had started and became a VC. SEEING THINGS FROM THE VC SIDE OF THE TABLE While I was a VC in 2007 & 2008 those were dead years because the market again evaporated due the the Global Financial Crisis (GFC). And the valuation party lasted until November 9th, 2021.

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