VC firms have raised a record $151 billion from their investors this year. But for newer VCs, many of whom are from underrepresented groups, fundraising has become paradoxically harder.
, which subsequently underwent layoffs, and Turner Novak’s Banana Capital, which has decreased the target size of its second fund by more than half, according to three people with knowledge. Tiger Global, ODX and Novak declined to comment.
“At the end of the day, the most diverse set of capital in venture is in the emerging manager space,” says Andre Charoo, founder of emerging fund Maple VC. “We were a driving force to bring capital to a diverse set of founders. Now, that’s likely to be reversed.”by BLCK VC, 54% of Black VCs who attained the status of “partner” did so by starting their own fund rather than being hired or promoted by an existing firm.
“If you’re an institutional investor and you have the choice between investing in Andreessen Horowitz's $9 billion fund versus firm XYZ’s new fund, it’s like how no one gets fired for investing in Coca-Cola stock,” says Garth Timoll, managing director at Top Tier Capital Partners, an institutional LP that backs venture funds.
“What’s going to happen now is we’re going to figure out who are the gritty emerging managers that are willing to take on the $20 million or $30 million funds when in the past they might’ve gotten $75 million or $100 million,” says Roland Reynolds, senior managing director of Industry Ventures, which invests in funds and startups. “To me, that's really healthy. We’re going to weed out the tourist emerging managers that don’t have the conviction to make it work with less money. Good riddance.
“The downturn is a catalyst for institutional LPs to reevaluate their portfolios,” says Cendana Capital founder Michael Kim. “Never let a good crisis go unused.”
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
South Side residents raise concerns amid fights, drug use, growing homeless population in neighborhoodResidents in a South Side neighborhood say they no longer feel safe at home. Concerns are growing due to fights and drug use by a growing homeless population in their area.
続きを読む »
People with disabilities raise voices at climate talksThere are over 1 billion people with disabilities in the world and research says they are more vulnerable than able-bodied people to the effects of climate change. A group of activists say disability rights should be a bigger part of climate talks. COP27
続きを読む »
Lawsuit accuses Apple, Amazon of colluding to raise iPhone pricesA lawsuit filed in Washington state on Wednesday alleges that Apple and Amazon have worked together to raise the prices of iPhones and iPads sold on the retail site.
続きを読む »
Resolute launches major cash raise to repay debtDual listed gold miner Resolute Mining has launched a major capital raise to repay debt and fund work in Mali. The equity raise includes an underwritten institutional placement of some 258-million new shares, raising an initial A$41-million.
続きを読む »
Does Subclinical Hyperthyroidism Raise Fracture Risk?People with subclinical hyperthyroidism are at 34% greater risk of experiencing a fracture compared with those with normal thyroid function, new research shows. MedTwitter
続きを読む »
SBF's Leaked Chat Reveals FTX Anticipates a Raise From Tron's Justin SunAs per the leaked chat, SBF also said that Binance probably never planned to go through with the deal.
続きを読む »