private equity

“This is a massively fragmented industry. It's largely owned by, you know, accountants themselves who started their own firms and grew it slowly over, you know, two decades and are ready to retire. Private equity firms are getting involved now to roll them up.”

“It's always the case that whenever you have a capital cycle in any, whether it's public markets or private equity or VC, that you're going to get a lot of Tourist investors, people who are there because it's fun and they want to be there to enjoy the view, but…”

“So once you're selling to PE, I would say absolutely use a banker, 10 out of 10 times, because that's like a tried and true method of like a data room and a management presentation and like a whole dog and pony show.”

“Venture is very volatile as an asset class because it's the tail end of the whip. It's the last asset class allocators allocate to. So they start with bonds, then they go to public equities, then they'll go to real estate, you know, then they'll go to credit, …”

“If we get to a billion bucks, I think it's cause we caught fire in private equity. If we get to two to three billion bucks, it means we've gotten into other asset classes.”

“We're on the second half of an S-curve in venture, but the beginning of an S-curve in private equity and private credit. And that's driving a lot of the, I think the next two to five years of growth.”

“The market size of private equity is six to eight times the size of venture.”

“My expectation, my hope is in three to five years, how Carta is sort of synonymous with infrastructure for venture in three to five years, it'll be synonymous with infrastructure for PE.”

“Venture is the biggest dispersion of all the asset classes, like compared to private equity, credit, or hedge funds or whatever.”

“I think software is just now maturing to a state where it's gonna have the same dynamic, and there's a one-time massive reset that's gonna happen because the amount of leverage in the system, and there's a lot of leverage coming due in these P-back companies i…”

“And in some spaces, like in private equity, carry usually has a minimum return before the carry accrues to the person. So, you know, might have a six, seven, eight percent Return to the investor before the SPV owner gets the carry, but in these situations I've…”

“Versus the 800 plus mom pop shops that exist all over the U.S. That are not just not only growing or not only are they not growing, they're actually going away. And either private equity is buying them, or they're being absorbed into other companies, or anythi…”