🔥The 9th Round of Easy Loan, Earn $40 Reward is in progress❗️ ⏰ Promotion Period: January 15th - Feburary 15th, 2025 👉 Register now and check more details at gate.io/campaigns/358

Our Josh Wolfe has coined the term 'wet powder' as it relates to VC capital deployment in current market conditions. More on why below from Anna Heim of TechCrunch. techcrunch.com/2023/01/14/the…

According to this report, VC will deliver 8.5% annual returns over the next 10-15-year investment horizon · VC has the widest dispersion of return · PE outperformed VC over a 40-year period · VC IPO P/S ratio over a 40-year period is 8.2x, valuations are reverting to the mean

1/ More in the VC community need to speak out publicly to quell the panic about Best crypto exchange ... I believe their CEO when he says they are solvent and not in violation of any banking ratios & goal was to raise & strengthen balance sheet

A lot of panic re: SVB (you should see my phone/emails!). A bank run driven by panic is the real risk here, not the action of selling LT securities at loss I have no inside information as I left SVB in 2012, but know enough about banking to piece together. Quick 🧵

As I’ve met hundreds of emerging + established GPs over the past year, I’ve decided to start sharing my weekly insights on medium. First topic? How drawn-out liquidity cycles are putting pressure on 10yr fund terms and LP return expectations 👇 #venture medium.com/@johnrikhtegar…

Starting to see a lot of structure in late-stage financing rounds this year. I wrote about the impact that structure will have on early-stage venture portfolios and how vulnerable late-cycle, RVPI-dominant VC vintages may be in this market. 👇👇👇 medium.com/@johnrikhtegar…

409A valuations determine the exercise price of employee stock options. When there is a fundraising performed, the 409A is tied to the fundraise and the common stock value is something like 30% the value of the preferred. So in 2021 all 409As were really high and employees

1/ A few interesting CHARTS on Q2 VC data Late-stage capital demand nearing 3x available supply

There’s a lot of mis-information being shared about VC performance and how it translates into LP returns. There’s also a lack of understanding about how the VC ecosystem broke the LP ecosystem over the past few years and why this matters A LOT. Here’s what’s going on:🧵👇

I've seen a few threads recently about the power law in venture capital and what this means for individual company returns. We looked at our data on 11,350 companies backed by 259 funds from 1986 to 2018. /1

I’m excited to announce Northside Ventures’ inaugural fund focused on backing exceptional Canadian founders in both the US and Canada at the pre-seed and seed stages with cheques from $100k to $500k. medium.com/@NorthsideVent…

Emerging GPs: 3 things that LPs are likely to ask you if you are raising: 1) What val you are holding your largest positions in past funds 2) Follow-on decision making (we saw a lot of lazy follow-ons in 2020-21) 3) Framework for generating liquidity through secondaries

VCs should expect LPs to press harder on entry ownership % during evaluation. 1/ Loss ratios go up, fewer startups get past 1st financing . 2/ Power law more pronounced, but 3/ Overall size of winners likely to be < $5B. Given these shifts, ownership matters that much more.

Whatever happened at OpenAI over the past 24 hours may end up being the clearest example of "startups die by suicide, not homicide"

2024 is on pace to see the fewest total dollars allocated to Canadian #VC funds in a decade, per RBCx. I checked in with the folks who finance #CDNtech at Startupfest to get a better sense of where we sit today and what the mood is like on the ground. betakit.com/gps-and-lps-at…

Perspectives from Canadian LPs—Kim Furlong (she/her) moderated a dynamic discussion with Ian Carew, John Rikhtegar, and Senia Rapisarda about key trends shaping the #CanadianVC landscape. And with that segway, we are heading into LP/GP roundtables for the rest of the afternoon!

Interesting report on the Canadian VC landscape from my friend John Rikhtegar at RBC: 50% of the past decade's exit value came in '20 and '21. This is actually lower than I expected, but a big 2023 ($10.4B in exits vs $1.1B in '22 and $3.2B in '24 YTD) made up another 20% that

Over the past decade, Toronto has become a world-class tech hub. We have the talent, access to capital, and the companies, but the next phase of growth is about scaling and strengthening the ecosystem itself. Golden Ventures is proud to be a Founding Partner and Organizer. 👇🏽

From Toronto, with love to Canada. 🇨🇦

🇨🇦🇨🇦🇨🇦 Super excited to share more details about Toronto Tech Week (June 23-27). The city is going to be absolutely electric. For a full look at all the speakers, events and content below. Click the link to sign-up and stay on top of all the details. 👇🏽👇🏽👇🏽👇🏽👇🏽👇🏽