Kelsey Chase

Co-Founder & President, Aumni · 1 appearance on the record.

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After practicing corporate and venture law at firms including Wilson Sonsini Goodrich & Rosati and DLA Piper, Kelsey Chase co-founded Aumni in 2018, an analytics platform that extracts and standardizes deal data from private capital agreements. He led the company as President through multiple venture rounds up through its acquisition by J.P. Morgan.

9statements → 7claims → 3claims resolved → 100%fully supported → 3.78/5average certainty → 1.67/5average debate potential → ≈4.5/5argument clarity, estimated →

3 supported 0 partly supported 0 contradicted 3 not yet assessed 1 not checkable as stated how the 7 claims stand · each chip opens the sources

7 assertions · 2 insights · every statement was checked. The predictions and assertions are the 7 claims: statements the public record can support or contradict. 3 are resolved, 3 are not yet assessed, and 1 names no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Kelsey argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported

Aumni data: Founders take less dilution and secure unprecedentedly favorable rights

“All of that I think is creating an environment where founders have the most friendly terms that they've ever had. That's the reality of what we're seeing in the data is that companies, founders are taking on less delusion in growth rounds. Generally speaking, …”

Kelsey Chase Mar 17, 2022 ▶ 21:27 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Kelsey Chase on measured tape to publish a rate. This says nothing about how they speak.

What they said9 Episodes1

Everything Kelsey Chase said on Capital Allocators that made the record, most notable first. Filter by type, assessment or year in the ledger →

Assertion Supported

Aumni data: Founders take less dilution and secure unprecedentedly favorable rights

Kelsey Chase Mar 17, 2022 ▶ 21:27 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Assertion Not publicly verifiable

Aumni data: Highest valuation markups occur within six months of Series B

“So within six months of the B is where we see the highest median markups. Biggest valuation increases are happening within six months of your B.”

Kelsey Chase Mar 17, 2022 ▶ 24:30 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Assertion Not publicly verifiable

Aumni data: Valuation markups drop precipitously 18 months after Series B rounds

“There still are strong valuations in months seven through 18, but not as strong as the first six months, but good markups really up through 18 months after your B, and then we see a pretty precipitous drop off after that 18 month marker.”

Kelsey Chase Mar 17, 2022 ▶ 24:39 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Insight

Chase: Venture deal terms ultimately boil down to economics or corporate control

“And in those agreements, you can really almost boil anything down to economics or control.”

Kelsey Chase Mar 17, 2022 ▶ 10:24 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Assertion Not checkable as stated

Aumni data: Lead investors secure board seats in 85% of growth rounds

“It's about 85% of lead investors in those rounds. Do you get a board seat when they lead an investment? However, if you look across the last few years, the trend has been down.”

Kelsey Chase Mar 17, 2022 ▶ 18:35 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Insight

Chase: Emerging managers should study missed pro-rata opportunities to justify larger funds

“And I think that dynamic is something if I were an emerging manager would want to be all over studying that, but then bringing new strategies to market and being able to convince LPs what that would have to translate to is larger firms potentially that have ac…”

Kelsey Chase Mar 17, 2022 ▶ 23:28 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Assertion Supported

Aumni data: Venture growth round sizes spiked exponentially following COVID-19

“One of the, I think, The pretty just staggering trends that we're seeing is over the last decade, there's pretty linear growth in terms of the size of these rounds. Like how much capital is coming into a series B company? What's the total round size? There's a…”

Kelsey Chase Mar 17, 2022 ▶ 19:32 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Assertion Not publicly verifiable

Aumni data: Median time from Series B to C is 15 months

“And the median timeline that Omni came to was about 15 months.”

Kelsey Chase Mar 17, 2022 ▶ 24:10 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Assertion Supported

Chase: Most fund of funds maintain direct investment strategies alongside fund investments

“If you take a fund to fund, for example, most fund to funds do have some sort of direct investment strategy alongside their fund strategy.”

Kelsey Chase Mar 17, 2022 ▶ 16:23 Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)

Appearances (1)

Episode	Date	Speaking time
Kelsey Chase – Analyzing Venture Transactions at Aumni (Capital Allocators, EP.241)	Mar 17, 2022	23m

Kelsey Chase

The record, in short

Their most notable supported claim

How they sound: not measured why? →

Appearances (1)

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