Time Warner Investments

“We invested sort of the same ish amounts every year, starting from the late nineties before I was there through now.”

“In reality, we're not typically going super early. So, we're not Doing seed deals.”

“I think for us, it's definitely both. So we need to make money. You know, we want to be competitive with VC returns and make money for our shareholders and our company. But the strategic piece for us is equally important. So it's sort of a fifty-fifty.”

“That's typically what we do. We've also co-led A's, like we could split an A with another financial investor. Do it also, if it makes sense at that stage to bring in a strategic, you know, it depends on where you are, you know, where your company is, even thou…”

“If you look at any, certainly our portfolio, almost anyone's portfolio, the earlier the exits, usually the better. Not just from an IRR standpoint, because that's just math, but just from a, just dollar over dollar standpoint as well, when we've looked at that…”

“So we look at around 600 ish deals a year.”

“When we first go into a deal, typically our size is from three to ten million, our first check, but we know we're going to be doing follow-ons”

“So, you know, we're very upfront to say that's not why we're doing this. So we're not making these investments to have an early look at a potential business. Acquisition down the road.”