suzerain

3 ms·

1. 1.▲
   by suzerain 13y ago

   1.5 is small compared to the war chests Apollo, KKR and the like amass, but it's huge for a VC accustomed to writing smaller checks. Average US VC find is 107mm. They're either going to be doing way more deals or shifting some of
2. 2.▲
   by suzerain 13y ago

   According to Fortune, there are management fees required on the full $1.5B. It's a huge fund (same article pits the average American venture fund at $107mm), but given the fees and the assumed ease of the fundraising process, it's
3. 3.▲
   by suzerain 13y ago

   I think you can attribute at least some of the decline to this. Only $400mm came from cash with additional shares possibly being issued based on performance. While this alone may not be a good reason for a long investor to drop shares, if i