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 6 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
Kim: 1% seed stakes do not move the needle in typical exits
“The typical venture exit is between 50 to a hundred million. If you own 10% of that company, that's ten million dollars back at a hundred million dollar exit. Ten million back to a seed fund is very meaningful. If you own one percent, you get the same kind of …”
Kim predicts long-term seed startup mortality rate will be 25% to 30%
“And, you know, I do think that the longer term sort of steady state mortality rate is probably 25% to 30%, but I don't think it's 80%, but we'll see.”
Kim: Cendana Capital's seed portfolio mortality rate is currently under 10%
“I will tell you that through our portfolio, Of 700 companies or more, our mortality rate right now is less than 10%. What I mean by that is companies that have shut down, companies that have been written as zero.”
Kim: Institutional LPs have already exhausted their 2016 annual capital budgets
“A lot of them did, and so now institutional LPs are largely out of capital for the year. A number of LPs I know have already spent their budget or have already allocated their budget to these re-ups, and it's also not just in the U.S. There are a lot of re-ups…”