The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Viswanathan: SaaS companies now need $200M ARR to go public
“So before, 1015 years ago, SaaS companies with a hundred million, you can go public. Now, it's actually more like 200.”
Venture secondaries are only 0.3% penetrated, representing a $100B opportunity
“Venture is 0.3% penetrated. So in that market, our estimation, we've done some analysis, 50 to a hundred billion, just In what we're doing.”
Viswanathan: Portfolio companies degrade when VCs take over operations
“Whenever that happens, usually the companies degrade pretty quickly.”
Orphaned mid-stage portfolio companies represent a dislocation across the VC industry
“I tested this with a lot of my peers and found that this was not just unique to NIA. This was really, this dislocation was happening across venture, which also made sense.”
Financial sponsor M&A will be a vibrant VC exit channel
“We've exited by financial sponsor M&A. That's going to be a very vibrant area over the next decade. And these folks like Vista, Tomo Bravo, and others are arming themselves with tens of billions.”
Viswanathan: Venture investors are price-takers for top early-stage companies
“Largely in this business, we are price takers for the best companies. And I think that's generally been the case in the last 20 years of venture with maybe one or two extreme examples.”
Viswanathan: Venture secondaries market grew two orders of magnitude in 20 years
“If you fast forward 20 years, we spend a good chunk of our time focused in that market. It's changed in that it's probably two orders of magnitude larger in terms of market size.”
VC generated 5x to 10x returns in two years during 1999
“I remember having conversations with folks and they thought, oh, if I invest in venture, I'll get a five to 10 X in two to three years, because in 1999, in the early part of 2000, that was actually happening.”
Venture-backed startups stay private 10 to 12 years, up from seven
“Companies, for sure, were staying private longer. Instead of seven, eight years, it was 10 to 12 years.”
Private equity secondaries market penetration doubled to 2% over a decade
“In private equity, it's about two percent penetrated, and that's doubled in the last decade from one percent to two percent.”
Most NewView investments grow over 50% annually and remain unprofitable
“Most of our deals are well above 50%, many well of a hundred percent. Are unprofitable.”
NewView Fund I comprised 31 companies acquired from NEA
“NewView one was 80% was 31 companies from one firm, NEA.”
Viswanathan: Tech companies stay private longer as VC funds grow bigger
“We found is a lot of dynamics going on, one of them being companies staying private longer, another that these funds are getting raised faster and bigger funds are being raised, so these Portfolios are getting pretty large.”
Viswanathan: Private equity acquisitions emerged as new exit route over 2010s
“A lot of these firms are coming in not only to invest as minority growth investors, but also to buy our companies, which is a very new vein of exits for a lot of these venture-backed startups. It's really emerged, I'd say, in the last decade”