cover of episode Times they are a’changin: Series A is not what it used to be

Times they are a’changin: Series A is not what it used to be

2019/7/29
logo of podcast ACQ2 by Acquired

ACQ2 by Acquired
AI Deep Dive AI Chapters Transcript
People
B
Ben
无相关信息。
D
David
波士顿大学电气和计算机工程系教授，专注于澄清5G技术与COVID-19之间的误信息。
Topics
Ben和David深入探讨了过去二十年种子基金的演变以及早期投资的变革，并分析了这种变革对投资者和创始人产生的影响。他们认为，种子轮融资现在相当于之前的A轮，A轮融资现在相当于之前的B轮。这种变化是由于多个因素共同作用的结果，包括超级天使投资人的出现、种子轮融资的专业化和制度化、A轮基金规模的扩大以及增长型投资者的加入等。他们还分析了这种变化对公司创始人及员工的影响，建议创始人及员工应该关注公司的内在价值，并根据自身判断做出决策，而不是盲目跟风。 Ben和David还讨论了宏观经济因素对风险投资市场的影响，他们认为低利率环境和科技创新是资金流入科技公司投资的主要原因。他们对当前的投资周期持乐观态度，认为互联网普及和智能手机的广泛使用为科技行业创造了巨大的市场机会。但他们也指出，投资周期后期会出现一些并非真正有价值的公司，风险厌恶情绪会在短期内迅速蔓延。他们建议投资者应该在市场低迷时期抓住机会，而公司创始人及员工则应该关注公司的内在价值，并根据自身判断做出决策。

Deep Dive

Chapters
Ben and David discuss the evolution of Seed Funds and Series A investing, highlighting how the traditional structure has changed with larger funds and later-stage Series A rounds.

Shownotes Transcript

“If you look at the firms that were traditionally the early-stage ventures firms, the Series-A firms, and you look at their fund sizes and their firm sizes and compositions, it’s changed significantly in the last ten years. Your typical early-stage venture fund was a $250M Series A fund. Now your typical early stage fund is anywhere from $500M to 1B.”

 

In this episode, Ben and David dive into the evolution of Seed Funds and how early-stage investing has changed in the last two decades both for investors and founders alike. Understanding the past changes in the ecosystem helps founders and investors establish themselves for the future. If you are an early-stage founder, this episode will contextualize the information you need to prepare your company for investment.

Sponsors:

 

Be sure to follow the Acquired Podcast:

Acquired.fm)

@AcquiredFM)

 

Links from the Show:

Wing’s analysis of the current state of the early-stage venture ecosystem: Seed is the new A, A is the new B)

Secrets of Sand Hill Road)

Gartner Hype Cycle)

Value of VC Investment (1995-2018))

US VC Investment Surpasses Dot-Com Era)