Lexi Henkel

Super helpful article and accompanying doc with a #Startup #Equity Calculator to determine the equity for early hires, thanks to Pear VC head of talent Matt Birnbaum! Thanks for sharing Pejman Nozad! 🙏🏼 You can read more here How to structure startup equity for early hires: https://lnkd.in/ggmpT5-Y Google Doc: https://lnkd.in/gjsvths6

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Calling all #Founders: Venture Capital Association of Alberta (VCAA)’s Deal Flow Calls represent a great opportunity for #PreSeed to #SeriesA companies to gain exposure to some of the countries most active Venture Capital #investors. If your company is raising equity capital, I strongly encourage you to check out the link below!

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Summary: Harlem Capital, a venture capital firm focused on backing diverse founders, is raising its largest fund to date of $150 million. This would be its third fund and is a testament to the industry's continued support for diverse communities. Key takeaways: Harlem Capital was founded in 2015 with the goal of supporting diverse founders. The firm has $174 million in assets under management and has made investments in over 80 companies. The successful raising of the $150 million fund would be a show of success for both Harlem Capital and the industry's continued focus on diversity and inclusion. #venturecapital #vc #venture #diversity #dei

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NY friends! Please come see me at Tech Day on my panel discussing the future of the NY tech ecosystem and what I hope to bring to it!

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Summary: This article discusses the challenges and opportunities facing emerging venture capital fund managers in the current market. Despite a decrease in the percentage of capital allocated to emerging managers, many are adapting and finding success through creative fundraising strategies and the support of communities like Raise Global. However, past success is not always a reliable indicator of future performance for these managers. Key takeaways: A decrease in available capital for emerging managers has resulted in a competitive landscape for fundraising. Some emerging managers have had to revise their fund targets and work with larger firms to secure deals. Communities like Raise Global have emerged to support and connect emerging managers with potential investors. Counter arguments: While some emerging managers have been successful, past performance is not always indicative of future success. The decrease in available capital could potentially hinder the growth and success of emerging managers. #venturecapital #vc #fundraising

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Summary: The article discusses the perspective of Notable Capital's managing partner, Hans Tung, on down rounds in investments. He believes that down rounds can still be beneficial in the long run and reveals his continued enthusiasm for the fintech sector. The article also delves into recent changes at the firm and other shifts in the world of venture capital. Key takeaways: Hans Tung believes that down rounds can lead to a successful outcome in the long run and views an IPO as just one milestone in a company's journey. Nearly 11% of the year's VC deals were down rounds, indicating their prevalence in the current market. Hans shares his optimism for the fintech sector and discusses the specific areas within fintech that excite him. Counter arguments: Some investors may still view down rounds as negative and prefer to avoid them in their investments. The article does not provide any potential drawbacks or criticisms of Hans's perspective on down rounds. #venturecapital #economy #startups

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Summary: The article discusses the current venture firm fundraising market and the success of emerging VC firm A* in raising $315 million for its oversubscribed Fund II. It highlights the firm's focus on early-stage investments and its experienced founding partners. Key takeaways: Venture firms raised $9.3 billion in Q1 and it is unlikely that 2023's record-breaking total of $81.8 billion will be surpassed. A* has been successful in fundraising due to its focus on seed rounds and backing breakout companies in its portfolio. The firm's founding partners have a strong track record and diverse experience in different industries. Counter arguments: The article mentions that emerging managers are feeling the frost in the fundraising market, suggesting that not all emerging VCs may be as successful as A*. While A* has found success in raising institutional investors for Fund II, this may not be the case for all emerging VCs. #venturecapital #vc #fundraising #startups #innovation

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We took the pulse of emerging fund managers about what it's been like for them during these post-ZERP, venture-capital-winter years. #venturecapital #veteranventures

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For some insight into what I look for in companies, check out Good Revenue's recent podcast!

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In a new essay today, Omar El-Ayat and I shared the Euclid Ventures vSaaS Index to unpack why the public markets love vertical software. Check out the full analysis and join us at the Euclid Ventures Substack for more. "The Euclid Index we’re sharing today includes 36 leading industry-specific public software companies, alongside 60 horizontal SaaS players for comparison. We’ll update it from time to time and unpack a vertical SaaS insight top-of-mind to our investment team. Today, we will use the Index to answer a question at heart of the business model. Public Vertical SaaS companies trade at nearly double the EV / GP multiples of their horizontal peers—11x vs. 5x, on the median. Amongst profitable companies, vertical EBITDA multiples also lead by >30%. Why does the market pay more for a dollar of vertical software profit?"

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Super helpful #Startup #Equity Calculator to determine the equity for early hires, thanks to Pear VC head of talent Matt Birnbaum! Thanks for sharing Pejman! 🙏🏼 You can read more here How to structure startup equity for early hires: https://lnkd.in/ggmpT5-Y Google Doc: https://lnkd.in/gjsvths6

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Abby Levy talks about venture's role in US healthcare and what we can expect to see as technology impacts the space on TFR. Check out the rest of the conversation with Abby & Alan Patricof of Primetime Partners on Episode 433.

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What makes a good Venture Capital Associate? Notes from my catching up with my mentor Derren Burrell of Veteran Ventures Capital today 1) Be willingly to "eat the frog" which means doing all of those adhoc but necessary task to keep a evergreen fund operator (the task Partners dread doing as well) such as: - Financial reporting - Trial balances and fund management - Investor relations and LP reporting - Compliance based task 2) Networking "The Best deal flow comes from other VC firms" 3) Investor relations and attractive new partners to the firm 4) Platform operations and improving portfolio companies. Rinse and repeat #veteran #vc #venturecapital #startups #fundoperations

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Boards of Directors – How Relevant To The Business Is The Board? In 2014, activist investor Starboard Value successfully replaced all 12 directors on the board of Darden Restaurants. The following shows the Darden incumbent board at the time of Starboard's proxy fight, Starboard’s value creation plan initiatives, the Starboard director nominees and the before and after performance (revenue, EBITDA, EBITDA margin and stock price). Note especially the direct relevance of each Starboard nominee to the industry or some aspect of the value creation plan. How often do you see this level of relevance on public company boards?

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Elizabeth Cook, Managing Partner of VC firm AI Capital, addresses the art of the [VC] deal: An intricate blend of relationship building, offering a succinct and concise value proposition, domain expertise, and of course, profit! #venturecapital #vc #ai #artificialintelligence #enterpriseai #startups #entrepreneurship #investing #alternativeinvestments #familyoffice #pensions #foundations #endowments

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The healthcare landscape is rapidly evolving, driven by advancements in technology and a deeper understanding of patient care. I had the pleasure of speaking with Ambar Bhattacharyya, Co-Managing Partner at Maverick Ventures, on the latest episode of The Full Ratchet. Ambar has partnered with numerous billion-dollar companies like hims & hers, Cityblock Health, Devoted Health, and ConcertAI. His unique journey from rural America to becoming a prominent figure in venture capital offers invaluable insights into the future of healthcare and technology. We discuss his investment strategy at Maverick Ventures, the megatrends shaping healthcare, the impact of AI on the industry, and the importance of integrated care. Ambar also shares his thoughts on the challenges and opportunities in healthcare investment, offering a comprehensive view of what lies ahead. Check out TFR Episode 438 to catch our conversation. You'll be glad you listened.

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The case for emerging managers: “What we don’t want to do is lock ourselves out of these high-performing, differentiated strategies for the simplicity of going with the big guys”, Taffi Ayodele director of the emerging manager strategy at the NYC Office of the Comptroller #investmentstrategies #investmentreturns #roi #assetallocation #emergingmanagers #riskreward #premium #performance

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To all #founders and #entrepreneurs out there, our intro meetings are conversational and easy going. Feel free to message me to setup a call. Learn what Pioneera Ventures can do for you!

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