This Week in Startups
Jason Calacanis covers startups, tech, markets, media, and all the hottest topics in business and technology. He also interviews the world’s greatest founders, operators, investors, and innovators.
Fund of funds: origins, evolution and deep dive with Michael Kim | E1890
Cendana’s Michael Kim joins Jason for a deep dive on fund of funds (3:32), how to examine alpha, beta, and quality indices in early-stage investing (28:38), current market trends, future startup outlook (45:11), and more!
Key Points
- Tourist founders and fund managers, those who start companies or funds because it's a trend rather than a passion, are being flushed out, leading to a return to normalcy in startup valuations and investments.
- Companies are now more mature at the seed stage, with many having revenue before raising a seed round, which is a shift from a decade ago when companies would raise seed rounds much earlier in their development.
- Pre-seed is becoming the new seed stage, with pre-seed funds investing in companies that are less mature but showing identical mortality rates to seed stage companies, suggesting that pre-seed investing does not carry significantly higher risk.
Partners
Chapters
| 0:00 | |
| 3:32 | |
| 7:01 | |
| 10:42 | |
| 12:04 | |
| 15:16 | |
| 22:07 | |
| 23:12 | |
| 28:38 | |
| 34:21 | |
| 35:29 | |
| 41:25 | |
| 45:11 | |
| 48:08 | |
| 52:10 |
Transcript
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