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It feels a little unfair to compare fund groups from 2003 and 2006 to those that must be after 2009, when A16Z was founded. Give it a few years and we can have
by Kaedon 10y ago
It feels a little unfair to compare fund groups from 2003 and 2006 to those that must be after 2009, when A16Z was founded. Give it a few years and we can have an article like this...
- boulos 10y agoI thought so too, but the article then compares to funds started in the same years (like 2010). That said, not having lots of exits within 6 years of starting a fund doesn't seem strange (anymore). Also, comparing Sequioa's 50x return on WhatsApp to anything is going to look bad ;). The percentile data is more revealing and does suggest that the A16Z fund from 2010 is currently middle-of-the-road. Unfortunately, the article doesn't cite sources for this percentile data.
- matco11 10y agoGood point. Also, I wonder if the mark-to-market policies of the various funds are really comparable. When you have a public market price reference it's pretty much irrelevant, but with the majority of the portfolio in non-listed assets, mark-to-market policies could have a large impact on your paper returns.
- matco11 10y agoOfficial response from AH: http://a16z.com/2016/09/01/marks-offmark/ http://a16z.com/2016/09/01/marks-offmark/