vc investment thesis collection

Investment Thesis Collection from Venture Capital Firms

Tldr; Collection of VC investment thesis that has been made public The VC world is murky. The innards rarely see light. I just had an advisory call with some chaps setting up a fund and they asked about fund structuring (not the first time). When I mentioned ‘This is not something you can Google.’ They laughed and said ‘yeah, we …

First Round Q1 LP Letter

First Round Q1 LP Letter

First Round Capital shared their Q1 letter to their LPs end of June 2015. There are some good observations around unicorns and rising valuations. They write that whilst they don’ have a crystal ball to predict future they do have a calculator. One humorous comment on whether in the proliferation of unicorns it will turn out who wears clothes is: “beware of confusing donkeys …