1 / 7

Changes in the Venture Industry: An Ex-CEO’s View of the New Venture World

Changes in the Venture Industry: An Ex-CEO’s View of the New Venture World. Jonathan Baer Threshold Ventures tventures@compuserve.com. The more things change the more…. Welcome back to the 1990’s The old things matter-team, syndicate, business model, customers, target market, timing

aitana
Download Presentation

Changes in the Venture Industry: An Ex-CEO’s View of the New Venture World

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Changes in the Venture Industry: An Ex-CEO’s View of the New Venture World Jonathan Baer Threshold Ventures tventures@compuserve.com

  2. The more things change the more… • Welcome back to the 1990’s • The old things matter-team, syndicate, business model, customers, target market, timing • Hard to fund new markets-easier to fund technology improvement to existing • VC’s are risk adverse-will invest when company does not need money-C rounds are cheaper than A

  3. More things change… • Founders are once again expendable-along with their equity • T’s and C’s matter a lot more than valuation • The largest risk today is financial

  4. A biased view of the VC environment • Finding right vc remains big hurdle • Pattern Recognition • Brain vs. Gut • Inexperienced vc’s will disappear • Fear versus greed remains • Revenue growth versus profitability • Angels returning, but following, not leading

  5. VC’s remain caught between… • High ROI needed, but no public market • Need to put money out in big chunks, with a syndicate that carriers company to cfbe • LP’s are running scared • No theme investing

  6. Advice • Build product, team and install base before going to venture capital firms • Raise more money than need-and before you need it • Founders need to protect themselves

  7. Designer Venture • World class team • Technology mature, product built, roadmap well defined • No market education required • Immediate, measurable ROI • Short sell cycle • No IT involvement • No BPR • Natural acquisition for major player, but also IPO candidate

More Related