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.
why aren't all 64 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Brand equity is difficult to underwrite in growth-stage startup investments
“We find at times in our stage of investing, it can be harder to underwrite, but it's something that we think about the company sort of continuing to build on over time. And the reason I say it's harder to underwrite at our stage is often still the channels tha…”
CapitalG defines growth investing by proof of customer love and unit economics
“The way that we choose to define growth investing is to define it as the point where the, we have some data that gives us strong conviction. It doesn't have to be a lot of data, but some data that gives us strong conviction that there is both a product that cu…”
CapitalG prioritizes projected total return over equity ownership percentage targets
“In either case, we don't focus as much on what our ownership percentage will be. We focus on what do we think the investment or multiple of money will be worth five years from the time we put the money in.”
CapitalG does not set minimum market size thresholds for growth investments
“We've never defined, it has to be, you know, XYZ billion or trillion in market size. What we typically look at when we make a decision is we want to understand what our multiple of money will be in our IRR from an investment perspective.”
CapitalG Targets 3-5x Returns in Growth Deals and 10x Early Stage
“So we underwrite three to five X returns, money on money returns. And you know, depending on the stage. So if it's really early, it will be 10 X, but the core of what we do in growth is three to five X money on money returns.”
CapitalG moved to earlier funding rounds due to 2021 market competition
“We have definitely gone earlier over the last couple of years, just as we talked about as the market has gotten more competitive and funding rounds have happened and preempted rounds have happened with even greater frequency.”
CapitalG targets making seven to eight new investments per year
“We think the right portfolio size is for each of the GPs to invest in about two companies a year. And so what that means is that we tend to invest in about seven or eight companies a year.”
Zanutto: CapitalG's Collibra thesis originated from discussions with Google engineers
“So for Clibra as an example, that initial idea around data intelligence and data management came from spending time with a number of Google engineers who had regular conversations with folks throughout Google and outside Google who are combating these challeng…”
Larry Page convinced David Lawee to launch CapitalG internally at Alphabet
“At that point, I was in the mindset of leaving Google, and I talked to Larry Page, and the idea was, for me, in that conversation, was to see if he wanted to invest his own capital in my firm, and he said, why don't you do this within Alphabet? And I thought a…”
UiPath has raised over $977M in venture funding
“To date, UiPath has raised over nine hundred and seventy seven million dollars in funding from some of the very best in the world, including Sequoia, Excel, Meritech, IVP, Capital G, Kleiner, CoTo, and more.”
Frantz: Alphabet's patient capital allows CapitalG to avoid IPO timeline pressure
“We have in our LP here at Google, Alphabet, the ultimate and very patient capital. And so, if we can find companies to invest in that we can be in for a very long period of time, That are growing and doing the things that they want to be doing and building val…”
CapitalG targets investment check sizes of $50M to $75M per company
“Our ideal investment is to invest, you know, 50 to seventy five million dollars in companies.”
CapitalG makes only five or six investments per year
“We only make five or six investments a year, so we have a very focused approach to the companies that we work with, and beyond the Google Capital team, we bring these hundreds of advisors within Google that can help on a very wide range of operational and tech…”
CapitalG models growth investments on a five-year return horizon
“For much longer than five years, but as we model investment returns, we typically do it over a five-year horizon.”