The Ledger
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Loverro: Late 2023 and 2024 startup fundraising wave will overwhelm VCs
“The way I back into the math says that there's a lot of companies that are going to be raising the end of this year and next year, and what's going to happen is there's only so many hours in a day for the investors who do, say, A, B, and C rounds that are goin…”
Loverro: Current tech downturn hangover will be worse than 2008 GFC
“In the lead up to the great financial crisis mortgages were going bananas. You had LBOs going bananas. Investors and venture weren't to the same degree. You didn't see companies in the public markets in tech or the privates trading at You know, hundreds of tim…”
Loverro: LPs will refuse to commit to fast-deploying venture funds
“Unfortunately, I think that is gonna be the comeuppance that a bunch of funds suffer. LPs are gonna say no.”
Loverro: Seed and Series A valuations won't return to $1.5M pre-money
“Now, are prices gonna go in seed and series A back to, you know, in series A levels where, you know, great companies were done at one and a half pre? No. Not happening.”
Loverro: VC LP commitments in 2020-2021 will exceed 2023-2024 combined
“If we were to take a bet, Harry, is there, are there more LP commitments in 2023 and 24, or 21 and 21 combined? I guarantee you the 20 and 21 number was gonna be bigger than the 23 and 24 number, if you really zoom into that small timescale”
Loverro: The tech market frenzy of 2020-2021 is not coming back
“The craziness that went on in 2020 and 21 isn't coming back”
Loverro: Startups will rush fundraising into July and August 2023
“I think a lot of firms or a lot of startups are going to be raising later this year. And that usually means like labor day and everybody wants to get in front of that. So my guess is July and August, we start seeing a lot more businesses come to market knowing…”