Navigation

Recent Posts

Recent Tweets

Be Local

Be Local

There have been some recent posts and tweets from Fred Wilson, Bill Gurley and others about the first, second and third tier cities for start-ups.  While we agree that Silicon Valley is clearly the first tier market, over the past several years we have purposefully... read more
Don’t Look Now… Your Assets Just Walked Out The Door

Don’t Look Now… Your Assets Just Walked Out The Door

This is a follow-up on the post we made earlier this week that discusses the difficulty in analyzing past performance of VC funds because of team changes.  In that post we said, “[Evaluating] Performance is tricky, however, because you have to carefully focus on the …... read more
An Eye Popping $10B exit! In healthcare, nonetheless…

An Eye Popping $10B exit! In healthcare, nonetheless…

We were just in the middle of (yet another) healthcare study internally when the news of AbbVie’s $10.2B offer for Stemcentrx came out.  This post was already in the works and was going to talk about why we still put about 20% of our investment dollars into the... read more
Revenue Multiples Are Declining

Revenue Multiples Are Declining

Over the last 12 months, we have been vocal on our opinions of the market, especially regarding the current trend of “private IPOs” and the fear that venture capital is in another bubble.

read more
Top Tier Capital Partners’ Jessica Archibald

Top Tier Capital Partners’ Jessica Archibald

From Facebook’s acquisition of WhatsApp to Google’s purchase of Nest Labs, large US technology companies are increasingly using the ample cash on their balance sheets for M&A. Jessica Archibald, managing director at Top Tier Capital Partners, examines how this trend is likely to continue.

read more
The $13 Billion Delta

The $13 Billion Delta

According to the NVCA, in 2013, $29.6 billion was invested in 3,995 venture-backed companies, yet only $16.9 billion was reported to be raised from institutional investors, a $12.7 billion difference.

read more
2014 IPO Markets: Boom or Bust?

2014 IPO Markets: Boom or Bust?

Will 2014 bring sustained momentum for venture-backed IPOs? Introduction Initial public offerings continued their rapid rise in 2013, aided by the strong performance of the U.S. public equity markets. Last year, 222 companies successfully completed their IPOs. Those... read more
Reverting to the Mean

Reverting to the Mean

Venture Performance in the Era of Lean Startups and Continuing Innovation Introduction With the convergence of rapid innovation, right-sized amounts of capital, and improved liquidity, the venture industry has reverted to positive cash flow over the past two years.... read more
Is Venture Over-Sold? The Outlook for Venture Capital

Is Venture Over-Sold? The Outlook for Venture Capital

The years 2000 to 2009 were a rough decade for venture capital. After a tremendous run from 1985 to 2000 – during which the US venture-capital industry produced IRRs as much as 100% higher than major public-market indices – the sector fell on hard times.

read more