The Ledger
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Lee: Series A valuations will reset to $20M-$40M pre-money
“Well, Series A's we're going to be back to eight to twelve million dollars, and Series A valuations will be back to 20 to 35, 40 pre. And B's will be back to a hundred pre, instead of four or 500 pre.”
Lee: LPs Have Put on the Brakes for Venture Funds Raising
“Investors, LPs in venture funds have basically put on the brakes. And so any fund that is trying to raise right now is having a pretty hard time for the most part.”
Lee: Sequoia Redesigned Fund Structure After Realizing Selling Early Sacrificed Returns
“Well, that's, I mean, that's why Sequoia went to this new fund structure, is because they did the analysis, and they showed that by selling too early, they had left a lot on the table.”