1. What makes this different🤡? Most accelerators are a numbers game. A tournament culminating in a demo day death match⚔️. Ours is the opposite. Tight knit group, very hands-on work with NextView parters, and no artificial fundraising deadline. Totally different ethos.
2. 💸We have improved the deal with double the dollars ($400K) at a higher cap🧢 (and still investing very very early). This is a big difference relative to other leading programs. We think this allows teams to focus🔍 on the right things.
3. We are proud that our teams have been fantastic and diverse! More than half of the teams have CEO’s that are underrepresented minorities, and they are building in areas as diverse as web3.0, insurance, digital health, and climate. It’s early, but these teams are rocking 📈
I’ve noticed an interesting trend among early stage VC funds: A heightened focus on fast markups and early fund performance metrics. It got me thinking – is this a good or bad thing? 🧵
First, definitions📔 A fund marks-up an investment when another firm invests in one of their portfolio companies at a higher price. This increases the holding value of this investment, and improves the IRR and TVPI of the fund.
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When I started in VC, markups were useful validation that a new fund knew what it was doing. But there was relatively less fixation on performance numbers early in a fund's life. This seems to have changed. Why?
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