Evergreen fund
‘What would it mean if it were not true?’ He chases that through to its conclusion, even if it takes you to some odd places along the way.”
The Gospel of Founders Fund
Terrain – Call Your Shot
terrain.com
Unlike the investors they’d worked with, Founders Fund would never move to oust an entrepreneur from their own company. Such a dictum sounds mundane in today’s market, in which firms compete to show their “founder-friendliness,” but it was genuinely novel at the time.
Mario Gabriele • No Rivals: The Founders Fund Story
maybe another fund doesnt have to be a different type of capital structure. Its a different ethos of capital. Everyone has the same exact tag line
They grew up counter-positioning against the classic 1990s VC model.”
Mario Gabriele • No Rivals: The Founders Fund Story
what is counter positioned now? and right? not just counter position to be different
$1b = unicorn. $10B = decacorn. $100B = centicorn. $1T = kilocorn. It's very clear to me that the large multi-stage firms are now purely centicorn and kilocorn shops. a16z raising $20B, Sequoia and others changing their reg status to hold companies beyond IPO, it's a new game and a new capital stack in venture. Sequoia and Sutter Hill put $2m in to... See more
Paul Venuto • feed updates
evergreen fund could be the right answer in the future
While credit funds want to move earlier in the technology lifecycle and into new categories, they lack the agility and capacity to unlock this bottleneck. Their investment mandates, governance structures, and operational processes are fully optimized around mature assets with established cash flows, not emerging technologies at the point of commerc... See more
Brett Bivens • The Rise of Production Capital
But there’s still a taboo around venture funds going public: Valley graybeards still remember dot-com bomb Internet Capital Group listing on Nasdaq in 1999. The VC shop’s valuation ballooned to nearly $60 billion before plunging 99.5% in less than two years.
This Top VC Wants To Use Main Street America As An AI Lab
Strengthening incumbents' positions as arbiters of innovation capital. These large funds have a vested interest in controlling distribution, and favoring them distorts capital flows into the startup layer and risks emerging funds’ future market leadership potential.
Geri Kirilova • Enmeshment in Venture — Laconia
I will never take money from a bigger fund
Our industry is still beholden to a rigid 10-year fund cycle pioneered in the 1970s. As chips shrank and software flew to the cloud, venture capital kept operating on the business equivalent of floppy disks. Once upon a time the 10-year fund cycle made sense.
Incentives and Outcomes - Credistick
can we shorten this to 5-7 years. Selling systematically in series B companies and raising smaller funds more quickly