How will the “pandemic vintage” of funds ultimately perform?

Individual investments follow their own paths but a 'vintage' will succumb to the forces of the mega-trends. Frank Rotman shares his thoughts on how the "pandemic vintages" will look in hindsight....

Emerging Managers from the Raise Conference: What Does the Data Say?

At #OpenLP we love ourselves some performance benchmarks! 250+ emerging managers submitted data to the Raise Conference... One 2015 fund is notching a 10.46x TVPI! Check out the stats here....

How Much Do Early Fund Performance Metrics Really Tell You?

How are fast markups changing the game for recent fund vintages? And how reliable of an indicator can recent fund vintage performance *really* be? Excellent Tweet thread from Rob Go digs in on this to...

European VC investments outperform U.S. ones—and have over the past two decades

"Returns from European VC investments have exceeded that of the US in every time period for the past two decades." The insights from Atomico's recent State of European Tech report just keep on coming....

The Evolution of European Venture: The Returns are Real

The returns are real, and it's time to talk numbers. Don’t miss this panel on the evolution and current state of European venture, from the recent SuperVenture conference in Berlin....

LP Thoughts on Emerging Manager Performance Benchmarks

Want to know how your fund stacks up against the rest of the pack? Particularly in the context of newer vintages? Here's a great thread from Beezer Clarkson on just that topic... plus key insights on ...

A Peek at the US Pre-Seed Venture Market

There is lots of hype around skyrocketing valuations lately. But what does the data say? Here's a snapshot of analysis from Will Bricker of Hustle Fund across 3000 pre-seed deals....

Metrics that matter most for investors & limited partners

Finding your north star metric as an investor can be confusing. Do you care more about consistent cash flows overtime or a large lump-sum payment later in the future? Do you care about total cash retu...

The Data: Enterprise & Deep Tech VC in Europe & Israel 2020

A detailed look at venture capital activity across the region in 2020....

Stampede for Silicon Valley start-ups sees VCs invest at fast pace

Venture capitalists are investing at the fastest pace in more than a decade, in a flurry of dealmaking that has intensified competition for stakes in young tech companies while increasing concerns abo...

Annual VC Human Capital Survey

The third edition of Deloitte's VC Human Capital Survey assesses the state of the US VC industry workforce, with a special focus on DEI. Results from this edition were benchmarked against findings fro...

The Black Swan Year: How 2020 Impacted Venture Investing and Performance

2020 was a year that profoundly disrupted nearly every aspect of life, so it’s no surprise that the pandemic’s effects made ripples throughout the venture landscape too. In the spirit of our #Ope...

Two and Twenty: What’s ‘Market’ for Venture Funds These Days?

One of the most frequently asked questions from our venture managers is “What is market?” Whether market refers to terms like management fees and carry, compensation for employees, number of compa...

Do Emerging Fund Managers Outperform More Established VCs?

Today we address our first question:  Do Emerging Fund Managers Outperform More Established VCs?  The bottom line is that YES, emerging fund managers have a slight edge compared to more establishe...

MATTHEW GRANADE – INSIDE DATA SCIENCE AT POINT72

Matthew Granade is Chief Market Intelligence Officer at Point72 and the Managing Partner of Point72 Ventures.  Matthew oversees all proprietary research and data efforts at the firm, manages several ...

The persistent effect of initial success: Evidence from venture capital

We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies, we find that each additional initial public offering (IPO) among a VC firm’s fir...

Q2 2020 Pitchbook and NVCA Venture Monitor report

The second quarter of 2020 was truly unprecedented for the venture capital (VC) industry, as the COVID-19 pandemic, nationwide lockdowns, stay-at-home orders, and a major economic downturn shook the e...

Results from the VC & Founder COVID-19 Sentiment Survey, Part II

The VC & Founder COVID-19 Sentiment Survey is an ongoing initiative to track how early-stage VCs and Founders are reacting to the COVID-19 crisis and economic downturn. The goal is to provide a se...

Coller Capital Global Private Equity Barometer Summer 2020

There has been a big leap in investor satisfaction with the transparency of GPs’ disclosures and communications, according to Coller Capital’s latest Global Private Equity Barometer. In the years...

SURVEY: The Capital Behind Venture: 2020 Edition

The aim of this not-for-profit initiative is to collect useful sentiment, opinion and information from Limited Partners (Fund of Funds, Family Offices, Endowments, Pension Funds, Government Funds a...

We surveyed 90 top VCs globally on investing, raising funds, and portfolio support in the COVID era

In moments of uncertainty, it helps to gather a cumulative idea of how VCs at top performing funds around the world are thinking.  We reached out directly to 90 venture capital partners at prominent ...

US VENTURE CAPITAL IN 2019

US venture capital activity continued to be robust in 2019, overcoming general macro and micro concerns that surfaced during H2 2019. Some key statistics include......

Which Markets Are the Most And Least Served by Seed Investors?

About a year ago, my partner David Beisel talked about how seed fundraising is no longer a local game, and that the best entrepreneurs seek out the best investors for them outside of their home mar...

VC’s decade in data: How the 2010s reshaped a market

Mega-rounds, and mega-funds. Unicorns, and deca-corns. Crypto investors. Seed stage as the new Series A.  And then SoftBank. Especially SoftBank. Those are some of the most defining traits of the rem...

Venture Capital Geographic Allocations in a Changing World

When investors are asked how they think about building exposure to venture capital, many say they are quite opportunistic with an overarching goal to get access to the best entrepreneurs, start-up com...

How is the VC Asset Class Doing?

One of my more popular posts in recent years was a long write-up on how VC’s get measured. It occurred to me that about 2 years has transpired since that original post and I thought I’d write a f...

The European Series A landscape — actionable benchmarks & the most active lead VCs

9 months ago we published, together with Dealroom and Atomico, actionable benchmarks on Seed funding in Europe — round sizes, conversion rates and time to Series A....

tryb Fintech and Limited Partner Survey 2018

tryb conducted a survey in late October 2018 to obtain views from fintech companies and limited partners (LPs)[1] on a wide range of topics, including market conditions, the fundraising environment an...

Fairview Capital 2018 Market Review of Woman and Minority-Owned Private Equity Firms

The universe of woman and minority-owned private equity firms grew and evolved significantly in 2018, rising to 312 at year-end, up from 240 at the end of 2017. The increase represented the largest ev...

A Stats-based Look Behind The Venture Capital Curtain

I was catching up recently with a friend who had just celebrated her 15th year as a venture capitalist. We were sitting on a bench in San Francisco’s South Park and during the course of the hour cha...

State of the Startup & Venture Capital Landscape in DACH, 2018 Edition

For the 3rd edition (we started back in 2016) of our annual presentation of the German-speaking startup and venture capital landscape, we’ve extended our scope from Germany to factor in the increase...

LP survey results: What LP’s are saying about emerging venture manager funds

This post serves a part one of a two part series that Beezer Clarkson at Sapphire Ventures and I are co-authoring to help VC’s (specifically emerging managers) navigate through fundraising cycles an...

Micro-VC, Strictly By The Numbers

In my last post, I described the icy fundraising market as it relates to emerging venture fund managers that are seeking capital for the first time. While I recognized that the post was particularly d...

How VCs Get Measured

VCs measure the performance of startups all day long. Many of the metrics that are used to evaluate companies are reasonably well understood and publicly known. But few people realize how VC funds ...

Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?

This paper focuses on funds of funds (FOFs) as a form of financial intermediation in private equity (both buyout and venture capital). After accounting for fees, FOFs provide returns equal to or above...

Top Tier GP Survey Summary

Top Tier Capital Partners recently sent a venture market survey to a number of our General Partners seeking first-hand insights regarding both their investments and feelings regarding the overall mark...

The Inverse Correlation Between Venture And Public Markets

Since the New Year, the team at TTCP has received several questions regarding our view on the recent volatility in the public markets and how it might impact our portfolios. While we typically invest ...

The New Pace Of Venture Capital Fundraising

Many would agree that company financing dynamics in venture capital have changed in recent years, especially with respect to valuations rising, round sizes increasing and companies staying private for...