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Top related persons:
USV - 1 — - 1 VCs - 1 Vincent Harrison - 1 Combinator - 1 Fred Wilson - 1 Wilson - 1
Top related locs:
Robinhood Texas USV
Top related orgs:
Square Ventures - 1 Union Square Ventures - 1 UTIMCO - 1 University of Texas - 1 Venture - 1 Bay - 1 Sequoia - 1 Twitter - 1

Search resuls for: "UTIMCO"


6 mentions found


☆ Union Square Ventures slashed the value of 7 of its funds by 26%. Insiders say this will be the 'start of a cascade' of lower valuations for VC funds.
  + stars: | 2023-08-02 | by ( Ben Bergman | ) www.businessinsider.com   time to read: +5 min
Union Square Ventures is widely considered to be one of the top performing venture firms of all time. USV marked down seven of its funds by nearly 26% this year, a far steeper writedown than other firms. Union Square Ventures — an early backer of Robinhood, Coinbase, and Etsy— is widely considered to be one of the top performing venture firms of all time. Venture firms are required to value their holdings at fair market value, but assessing the value of illiquid assets leaves considerable room for discretion. USV's 2004 fund returned more than $305 million in cash from a $22 million UTIMCO investment, with an IRR of 66%.
Persons: USV, —, VCs, Vincent Harrison, Combinator, Fred Wilson, Wilson Organizations: Square Ventures, Union Square Ventures, UTIMCO, University of Texas, Venture, Bay, Sequoia, Twitter, Zynga Locations: Robinhood, Texas, USV
☆ Upfront's Mark Suster has become the star of LA's booming startup scene. Not everyone is a fan.
  + stars: | 2023-04-18 | by ( Ben Bergman | ) www.businessinsider.com   time to read: +29 min
"I have worked with more than 50 VCs and nobody comes close to what it is like to work with Mark Suster," said a founder backed by Suster. "Mark and the Upfront Summit helped put LA tech and investing on the map," said Jeffrey Katzenberg, the cofounder of DreamWorks and WndrCo. Several years ago, a founder whose startup Suster invested in was in a conference room rehearsing their presentation for the Upfront Summit. If you're going to put him on your board, you're letting the fox guard the henhouse. "If you're going to put him on your board, you're letting the fox guard the henhouse."
☆ Exclusive: Union Square Ventures warned startup founders in November to diversify their deposit holdings after alarm over Silicon Valley Bank
  + stars: | 2023-03-14 | by ( Ben Bergman | ) www.businessinsider.com   time to read: +3 min
Union Square Ventures warned portfolio companies in November to diversify their bank deposits. The warning, which has not been previously reported, never specifically mentioned SVB. "If you read the SVB financial statements, which most people don't do, you could see an impending liquidity crisis," said one source. Venture investment firm Greenoaks Capital Partners also warned its startup founders of potential problems at SVB last November, Bloomberg reported. In December, a New York banker at a large financial institution started getting calls from current Silicon Valley Bank startup founders asking to open accounts, Insider previously reported.
☆ Thoma Bravo and Clearlake have posted negative returns for a major endowment, according to exclusive performance data. Middle-market firms have been much stronger.
  + stars: | 2023-02-21 | by ( Rebecca Ungarino | Ben Bergman | ) www.businessinsider.com   time to read: +5 min
The returns show losses from Thoma Bravo and Clearlake, though the funds are new and PE is a long game. Thoma Bravo and Clearlake Capital Group, two private-equity firms that have emerged as notably active investors in recent years, have posted early losses across some of their funds, according to investment returns from a major US endowment. UTIMCO invested $51.7 million in Clearlake's seventh flagship private equity fund, known as Clearlake Capital Partners VII, which closed with some $14 billion of commitments last May. Thoma Bravo declined to comment. Meanwhile, the data show high returns from CapRock Partners, Renovus Capital Partners, Serve Capital Partners, and LFM Capital, PE firms that target middle-market companies.
☆ Joshua Kushner's $3 billion Thrive Capital VC fund has lost 31% in the past year, according to a major endowment backer
  + stars: | 2023-02-13 | by ( Ben Bergman | ) www.businessinsider.com   time to read: +3 min
Thrive announced at the beginning of last year it closed a massive $3 billion fund. By the end of the year, one of the fund's major investors marked down its stake by 31%. Thrive Capital, the New York-based venture firm founded in 2009 by Joshua Kushner, announced at the beginning of last year it closed a massive $3 billion fund, with $500 million earmarked for early-stage startups and another $2.5 billion devoted later-stage companies. Thrive is also in talks to make another $1 billion investment in Stripe, Bloomberg recently reported. And Thrive is also in talks to invest in OpenAI through a tender offer, the Wall Street Journal reported.
☆ Private venture-capital returns from one of the largest endowments reveal Union Square Ventures has been wildly successful. Sequoia and Y Combinator have lost money so far.
  + stars: | 2023-01-23 | by ( Ben Bergman | ) www.businessinsider.com   time to read: +6 min
USV's 2004 fund returned more than $305 million in cash from a $22 million UTIMCO investment, with an IRR of 66%. Thrive Capital, the venture firm Joshua Kushner founded in 2009, has delivered -34% IRR on two funds from late 2021. UTIMCO's $6.7 million invested has been marked down to $4.6 million. Two funds UTIMCO invested in the VC firm Initialized at the beginning of 2022 have a -5.5% IRR. Upfront Ventures, the most prominent early-stage firm in Los Angeles, has returned only $31 million though UTIMCO invested $110 million since 2015.
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