Tomasz Tunguz

AUGUST 6, 2023

What will a venture capital turnaround feel like? In 2008, I had just become a venture capitalist. Will it be gradual or sudden? What will change the sentiment in the market? Three months later, Lehman fell & the Global Financial Crisis started.

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Both Sides of the Table

JUNE 27, 2013

We have previously raised funds in 1996 ($200 million), 2000 ($400 million) and 2008/9 ($200 million). Well, the venture capital industry has changed a lot in the past 20 years … and we have too. I am super excited to announce that today is a day of lots of new things for my partners & me: A new fund, a new office and a new brand.

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This is going to be BIG.

MARCH 1, 2011

Back at the end of 2008, when the economy was in the tank, and funding was tough to come by, NYC Seed, a small local fund with some government and local academic backing supported my startup, Path 101. Investments in innovation can often have unforeseen positive ripple effects.

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Both Sides of the Table

JUNE 22, 2011

I guess that makes USV, Spark Capital, Foundry Group, Accel, Benchmark, Revolution (along with several others) pretty happy right now. source: Capital IQ. source: Capital IQ. I said, “It’s much easier now than it was in 2008/09.&# Still, market amnesia by ordinarily rational actors always surprises me.

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This is going to be BIG.

APRIL 21, 2011

But I am also someone who is very colored by my past experience of seeing the venture implosion after the first bubble and walking through the fundraising tumbleweed of late 2008. I'm all for people putting $25k to work to try something out--and if it works, having the momentum to raise more capital.

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Tomasz Tunguz

MAY 2, 2022

When I asked him what he meant, he replied because capital was so plentiful and accessible today, he hired more expensive people, spent more time developing a product, and invested with a longer time horizon before demonstrating evidence of success. Capital availability on the x-axis and evidence on the y-axis to illustrate his point.

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capital real estate enablement development 143

This is going to be BIG.

DECEMBER 11, 2014

Rob messed around with some local video thing in 2008, which everyone but Rob thought was a pretty terrible idea. " — Charlie O'Donnell (@ceonyc) December 29, 2008. Venture Capital & Technology' I'm fearing the day Yahoo goes "Oops!" Still, he got his guys in the Ukraine to code something up.

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Both Sides of the Table

JULY 1, 2010

Company plans to use the capital to build out sales and marketing and r&d. -a led by Altos Ventures and Maverick Capital, with Larry Braitman. Founded in 2008 in Santa Monica by Ron Goldman (former CRO of shopping.com) and Rahul Sonnad. Incubated by Clearstone Ventures in 2008. a fbFund winner. Current round: $4.

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This is going to be BIG.

NOVEMBER 6, 2013

In fact, much of the groundwork of the NYC tech community''s growth came before the late 2008 economic crash--when the city started paying attention to the tech community as the economic savior poster child. City money didn''t spur on the massive venture capital investments that have been made by the private sector.

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education venture capital communities ventures 330

This is going to be BIG.

NOVEMBER 9, 2016

In 2008, I tried to fundraise for my startup the week that Lehman Brothers went under. Over the long term, innovation prevailed and 2008 turned out to be a great year to have a 1-3 year old company if you could make it through the next year. This also means taking on extra capital. You can imagine how well that worked out.

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Both Sides of the Table

NOVEMBER 14, 2010

And so it happened that between 2000-2008 I was the biggest buzz kill at dinner parties. They have marked-up paper gains propped up by an over excited venture capital market that has validated their investments. Remember it was only 2008 where Microsoft and even Google were laying off employees. Many may simply hit the wall.

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Both Sides of the Table

JULY 16, 2010

So as of 2008 total LP commitments were still at nearly $250 billion. Our current fund was raised in 2008/09.] After all, most people don’t understand that “venture capital is a get rich slowly&# scheme. So companies are running for the first 1-2 years on significantly less capital than they did 10 years ago.

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A VC: Musings of a VC in NYC

JULY 27, 2021

Our 2008 vintage early-stage fund has generated about 5x cash on cash but only generated a 22.5% That explains why our 2010 Opportunity Fund has a lower cash on cash return but a much higher IRR than our 2008 early-stage fund. Venture capital funds do not take down the entire capital commitment upfront.

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Both Sides of the Table

AUGUST 9, 2011

By 2008 I had gotten more serious about championing companies through our investment process. It was September 2008. The following is a 2-week graph of the end-of-week price of the Dow Jones Industrial Average (DJIA) in Autumn 2008. Venture capital is an industry best served up from 7-year aged casks. We did not.

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Dream It

APRIL 7, 2020

The venture fund launched a completely virtual program with a focus on helping 13 Urbantech, Healthtech, and Securetech startups with business development, customer growth, and capital raising in a time of economic uncertainty. Since 2008, Dreamit has worked with over 350 companies.

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Both Sides of the Table

SEPTEMBER 15, 2010

My thesis on why this is happening is that large tech companies didn’t invest enough in R&D between 2008-2010 (Google even went through layoffs!!!) First Round Capital & True Ventures seem to spend as much time cultivated relationships with “second round capital” as they do entrepreneurs.

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angel investing investment investing VC 284

Dream It

APRIL 12, 2020

Paul Martino, General Partner at Bullpen Capital. During our recent Dreamit Kickoff week, Bullpen Capital Founder and General Partner Paul Martino ( @ahpah ) spoke with our Spring 2020 cohort about the state of the VC ecosystem in the current economic crisis. Will a financial crisis affect how venture funds deploy capital?

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Both Sides of the Table

MARCH 1, 2016

At the Upfront Summit in early February, we had a chance to have many off-the-record conversations with Limited Partners (LPs) who fund Venture Capital (VC) funds about their views of the market. In fact, if you add the capital flows of the past ten years, there have been just shy of $50 billion in net cash outlays.

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venture capital capital ventures VC 205

This is going to be BIG.

JUNE 8, 2014

Even the old Pfizer headquarters, active as recently as 2008, is now home to the production of everything from microchips to pickles. Politics Venture Capital & Technology' Refactory is trying to create an end to end process from design to manufacturing for hardware on Sackett Street.

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This is going to be BIG.

FEBRUARY 16, 2010

I am excited to share the news of First Round Capital 's recent investment in cloud-to-cloud backup service Backupify. Back in late 2008, I noticed that one of my Flickr contacts seemed to be short a few photos--like, a few thousand of them. Tags: First Round Capital Venture Capital & Technology. I freaked out.

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Both Sides of the Table

SEPTEMBER 12, 2013

He first came to see me in 2008 when we was raising money for his 1st startup – NextMedium. At every entrepreneur event I through between 2008-2012 I invite Hamet because he was a great mentor for entrepreneurs. Hamet started his career in Venture Capital working for the first post-apartheid VC fund in South Africa.

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MARCH 24, 2014

I spent my first year developing proprietary deal flow and learning the business and then the Sept 2008 / Lehman Bros collapse / financial meltdown happened. As a result I didn’t write my first venture capital check until March 2009 – exactly 5 years ago. I become a venture capitalist in September 2007 – exactly 6.5

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Both Sides of the Table

MAY 19, 2010

Our guest this week on #TWiVC was Dana Settle , partner at Greycroft Partners , a venture capital firm with offices in New York and Los Angeles. Founded in August 2008 in Palo Alto, CA, by Sam Christiansen and Keith Lee. When the show has been processed it will be available here (estimated 8pm PDT). Go Boulder! Total Raised: $9.64mm.

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Tomasz Tunguz

JULY 4, 2020

We reviewed the data in May and compared it to the effects of the financial crisis in 2008 on startup fundraising. As a reminder, 2008 saw a 40% reduction in venture dollars invested in startups. These corrections match 2008. We venture capitalists have raised record amounts of capital in the last 2-3 years.

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TechCrunch

MARCH 30, 2021

Finch Capital , the early-stage fintech VC with a presence in London and Amsterdam, is acquiring Wirecard Turkey, a subsidiary of Wirecard, the disgraced fintech out of Germany. The acquisition, for which terms remain undisclosed and is still subject to regulatory approval, sees Finch create a new Ireland-registered entity called Nomu Pay.

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Both Sides of the Table

JUNE 3, 2010

This was really a fun week at TWiVC because we decided to have an entrepreneur come and talk about raising capital rather than having a VC come on. Raised angel money from Rob Lord, Reid Hoffman, Benchmark Capital and others. Brought in new CEO, Russ Reeder in 2008. Farb is the founder & CEO of Grockit.com.

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Both Sides of the Table

OCTOBER 1, 2009

In my previous post, The VC Ice Age is Thawing (for now) I wrote about the reasons why the VC market came to a screeching halt in September 2008 and remained largely shut until at least April 2009. With First Round Capital, Sequoia and Founders Fund obviously a lot of respected investors think highly of its potential.

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TechCrunch

NOVEMBER 10, 2020

When you’re running your own venture — especially if it’s your first — it’s unlikely you will find the time to deep dive into how venture capital firms work. So, I’ve decided to share the main lessons about VC that I wish I’d known when I was a startup founder chasing venture capital. But the opposite is also true.

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Both Sides of the Table

AUGUST 24, 2015

I’ve seen friends (and family members) lose much of their savings that way over the years because “Black Swans” happen and in 1987, 2001, 2003 & 2008 (just to name a few from my memory) huge market gyrations caused much financial distress to people seeking short-term gains. At least later stage investors.

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A VC: Musings of a VC in NYC

JANUARY 1, 2024

As we enter 2024, the capital markets have found their footing and are moving higher. That is good news for the innovation economy because healthy capital markets are a necessary support system. However, optimistic capital markets are necessary but not sufficient for a healthy innovation economy.

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Both Sides of the Table

SEPTEMBER 29, 2009

But any entrepreneurs raising capital should keep in mind that this opening of the markets could possibly be temporary. Bu when you start to worry that the world is ending (as it seemed it was in late 2008 / early 2009) you tend to get worried about large burn rates. So we have almost no triage problem. The deal was done in late 2007.

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MAY 15, 2010

Next Wednesday we’ll have Dana Settle of Greycroft Partners, a New York / LA early-stage venture capital fund. 9mm – Investor: Sequoia Capital (Michael Moritz) – Read more: TechCrunch , PaymentsViews. 5.3mm – Investors: Madrona, Bain Capital, Khosla Ventures – Read more: TechCrunch.

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MAY 7, 2011

In 2008, he founded StackOverflow , and it has become the foundation for a question and answer platform called StackExchange. Stackoverflow was created in 2008. Jeff built the first version of StackOverflow with a bunch of old colleagues, and it launched in August of 2008. He then went on to work at Viacom and Juno in NYC.

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Both Sides of the Table

JUNE 28, 2010

And Mike believes that entrepreneurs often need less capital to get started these days. Spun off from Freewebs in 2008, based in Palo Alto. Current round: $8.5mm Series-C led by Jafco Ventures with DCM , Emergence Capital, and August Capital participating. Tags: This Week in Venture Capital. Total raised: $19mm.

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Both Sides of the Table

OCTOBER 1, 2009

In the first post in this three part series I described why I believe the VC market froze between September 2008 – April 2009. It’s my job to invest wisely in entrepreneurs who are capital efficient, who innovate in ways that pay off economically in good markets or bad and who plan for worst-case scenarios.

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Gust

DECEMBER 13, 2011

Here are the trends in venture capital financings from 2006 through 2010 – the number of seed stage deals funded and total investment by region in millions of dollars. . For VCs, I chose to look at all seed stage VC deals (from MoneyTree©) as well as those in five of the most active regions in the country. All Seed-VC. Silicon Valley.

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Both Sides of the Table

MAY 4, 2010

I gave carve outs for Steamboat, Intel and Comcast Interactive Capital, all of whom I believe are more like VCs than strategic money and can be great to work with. Online advertising platform for local businesses; ReachLocal reported over $203 million in revenue for 2009, compared to around $146 million in 2008. million loss in 2008.

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