Everything John Taylor said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Venture capital funds historically returned 25% to 30% net to LPs
“Historically, venture capital funds have returned to their investors net about 25 to 30%.”
Taylor predicts only 5% to 6% of recent startups will IPO
“Now, because it takes so long, it's very hard for us to know you know, what the current crop of companies or even the crop of companies eight or 10 years ago what their outcome will be. But my guess is it's going to be five Maybe six percent. It's just a much,…”
Aging populations prevent pension funds from committing to VC lockups
“But with the pensions now seeing aging populations, they're generally not in a position to be doing the 10 to 12 to 14 year lockup, which a venture capital fund typically is. They can't commit to that level time frame of the liquidity.”
NVCA research finds venture capitalists max out capacity at six board seats
“We've done a study now, we did it back Right after the bubble, and we've revisited it once or twice with Dow Jones, looking to see what this, what a typical workload, a board level workload is of a venture capitalist, and the number comes back six, and it was …”
Active venture capital firm count dropped 30% between 2010 and 2015
“I think also you have to look at where venture is, and over the past four or five years, we, we've seen a reduction in the number of firms, a slight reduction in the amount of capital available, but A significant 30% reduction in the number of firms out there …”
Late-stage venture capital round sizes expanded by 40% to 50%
“And that is that the VCs themselves are coming to the table with roughly the same amount of money they have the past few years. But we're seeing the total amount invested, the total size of these rounds expanding by, you know, 40, 50%. The total amount of vent…”
Institutional LPs seek 300 to 500 basis points over public markets
“Lots of times you'll hear institutional investors saying that they want at least 300 to 500 basis points better than what they think they can do in the public market.”
Large institutional LPs cannot invest in small $20M to $40M funds
“A lot of the money's in the hands of very, very large institutions that can no longer put money into a 20 or 30 or forty million dollar venture fund. They just don't have, they just can't divide it up in that small a parcel.”
Biotech companies comprised the majority of venture IPOs from 2013 to 2015
“And you look at just in the past gosh, I mean, the past three years 2013, 20 14, 2015, and the interesting thing is that the majority of the IPOs in each of the That period where were biotech companies, which historically is only about 20% of the money, but ma…”
Fourteen percent of venture-backed startups in the 1990s went public
“If you go back to nine in the 19 nineties, And look at what percentage of the first fundings in the nineties ended up going public. It was 14%. So basically one in every seven companies that got a dime of venture financing went public.”