Sublime
An inspiration engine for ideas
More firms are incubating companies as early-stage valuations rise.
A few successes:
• Snowflake ($49B mrkt cap) by Sutter Hill Ventures
• Affirm ($6B mrkt cap) by HVF Labs
• Hims & Hers ($1.3B mrkt cap) by... See more
John Buttrick in 2010, following his corporate law career, and Andy Weissman in 2011 after having founded Betaworks in 2007.
* 2023 data by Oregon Public Employees Retirement Fund
* 2023 data by Oregon Public Employees Retirement Fund
Allocator’s Notebook: Union Square Ventures Funds I-III, 2004-2015
Daniel Loeb of Third Point on $BN
"We believe Brookfield is a business that has both a rerating opportunity and strong earnings compounding in the underlying asset." https://t.co/nYTtQEN3D5
Cadre, another real estate investment startup co-founded by Jared Kushner, Josh Kushner, and Ryan Williams, has raised $133 million from venture capitalists. With that investment comes the expectation of rapid growth and strong profitability, which could lead to lower underwriting standards and higher fees. Plus, Cadre does not avail itself of Reg... See more
Packy McCormick • Fundrise & the Magic of Diversification
Top of mind VC LPs this week:
- LPs with lots of VC exposure “pruning” $$ sizes down
- Secondaries (LPs selling interest/slice of interest) heating up. Clearing @ 20-30% discount.
- Big LPs want to add crypto to portfolio but some resistance from boards/CIOs
#knowyourcustomer
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