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How Boards Need to Evolve Over Time

Both Sides of the Table

I’ve written a few posts about boards recently as part of a series on the subject. I admit that I haven’t yet read it but I’ve had numerous discussions with Brad over the years about board structure & conduct and consider him a mentor on the topic. Offering a sparring-partner function on strategic decisions.

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The Changing Venture Landscape

Both Sides of the Table

In 2001 companies IPO’d very quickly if they were working, by 2011 IPOs had slowed down to the point that in 2013 Aileen Lee of Cowboy Ventures astutely called billion-dollar outcomes “unicorns.” Pre-seed is just a narrower segment where you might raise $1–3 million on a SAFE note and not give out any board seats.

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Cryptocurrency pioneer Diana Biggs joins digital assets startup Valour as its new CEO

TechCrunch

Biggs, who has been in the Bitcoin space since 2013, told TechCrunch: “I have never seen this much attention to Bitcoin and other crypto-assets… The time for decentralized technologies has arrived, and their potential is increasingly realized by institutional investors.”

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Investing in Moment

Andreessen Horowitz

In 2013, just 8% of corporate debt was traded electronically. Their suite of APIs delivers best execution across every source of liquidity, comprehensive reference and market data, and custom fixed income strategies with automated portfolio construction and management. By the end of 2022, this number was 45%.

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Praying to the God of Valuation

Both Sides of the Table

Within 5 years I was on the board of real businesses with meaningful revenue, strong balance sheets, no debt and on the path to a few interesting exits. We were told that Tiger was going to eat the VC industry because they deployed capital every year and didn’t take board seats. Hey, we got to raise again next year.

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Please Help Me Congratulate Jordan Hudson as @UpfrontVC’s Newest Investment Principal

Both Sides of the Table

Associates often shadow partners at board meetings so that they can help follow up with the company on important initiatives between board meetings. I think it’s great for some people because it really does give you some solid benefits: board exposure / experience. In 2013 we launched many firsts to reinvent our firm.

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São Paulo’s QuintoAndar real estate platform raises $120M, now valued at $5.1B

TechCrunch

With the extension, the startup has now raised more than $700 million since its 2013 inception. We’re receptive to the idea but our core strategy is to focus on organic growth and our own innovation and accelerate that,” Braga said. São Paulo-based QuintoAndar is now valued at $5.1 Ribbit Capital led the first tranche of its Series E.