The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Bain Capital Ventures pauses deals receiving unanimous partner votes
“We have a rule internally that if everybody votes for a deal, we need to pause and rethink it.”
Harris: Entry valuation matters little if Series A ownership hits 18%-25%
“If you own 20%, 25%, 18%, something meaningful of a company that ends up being important, then it doesn't really matter whether your entry price was 20 posts or 40 posts.”
Smith: Bain expects Lime to generate a 15x to 20x return
“My bet was really believing that Lime is the ability to get us positive economics and more than 15 to 20 X from here.”
Harris: VC Diversity Requires 50/50 Junior Hiring Plus Senior Lateral Hires
“At the lower ranks of our firms, we need to bring in the correct balance, correct being fifty-fifty at a minimum of men and women, and minorities should be added to this question as well, and we also need to lateral in senior investing talent at the same time.…”
Harris: Bain Capital Ventures no longer co-leads Series A rounds
“Where we end up having to somewhat frustratingly draw a hard line is we generally don't co-lead Series A's anymore.”
Matt Harris: Fear of macro cycles has cost me a lot of money
“My deep and abiding fear and recognition of the cyclicality of finance and the cyclicality of technology has actually cost me a lot of money.”
Smith: VC firms must protect new female partners from the diversity tax
“I'd also recommend you not give her the diversity tax. So it's really common. I think good intentions. People say, great. We have our first people partner. Will you now mentor all the women in our firm? If you think about that, you know, that's really putting …”
Smith: VC firms must maintain identical deal standards for new female partners
“After mentorship, I'd recommend that you maintain your investment criteria. I think this is really hard sometimes when you bring in a newer member, certainly from an underrepresented group, there could be temptation to let the first few deals through or, you k…”
Matt Harris: Bain Capital Ventures targets $300M–$400M annual deployment
“Our goal has been to invest three or four hundred million dollars a year. Again, we do both venture and growth equity, so that seems like a lot of money, but many of those are large checks and later stage companies. Fully half of it is your classic five to twe…”