How is your portfolio Different?
Joined April 2018
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Different. retweeted
This report is a super unique contribution - shining light on an aspect of the VC ecosystem that is hard to get a view into.
Be sure to check out the full report for more analysis!
differentfunds.com/vc-deck-r…
Thanks @lajump and the @DifferentFunds’ team!
New analysis uncovers multiple VC firm attributes that can indicate success: while spin-outs correlate with underperformance, partners with more experience prior to becoming VCs correlate with outperformance differentfunds.com/research/…
Over the last five years, the avg # of LPs for Funds IV+ rose 144%, compared to 72% for Fund Is. This has left the avg Fund IV+ with nearly 3 times as many LPs as the avg debut fund differentfunds.com/research/… @oper8rio @cookie
Atlanta VCs have an above average tendency to target Cybersecurity, Supply Chain, Future of Work, and Logistics: see where else they invest differentfunds.com/market-pr… @erinschilling85 @DanIngevaldson @GaTechCyber
Different. retweeted
Analysis from @DifferentFunds shows that new funds spinning out of established funds, larger fund sizes, short to no career prior to VC, etc. all lead to underperformance.
differentfunds.com/research/…
The pattern match is broken: new analysis shows that Ive League grads and spin-out VCs are more likely to underperform than outperform differentfunds.com/research/… @ychernova @MKRocks @eringriffith
We paired performance data for VC funds with our venture database of 100+ variables across firms, funds, and GPs. See what actually correlates with performance differentfunds.com/research/… #openLP @beezer232 @SamirKaji @DanPrimack
In 2021 NYC VCs have attracted the highest avg # of LPs w/ ~110 LPs per fund. Bay Arrea is averaging 91 LPs per fund. Other geos are behind w/ an avg 74 LPs per fund differentfunds.com/research/… @nvca @agoldfisher @ychernova
Over the last five years, the average number of LPs participating in a VC flagship fundraise has more than doubled to a figure of 86 thus far in 2021 #OpenLP differentfunds.com/research/… @Beezer232 @Samirkaji @danprimack
Different. retweeted
"If LPs who care about diversity begin redirecting their capital to the Atlanta market, boosting the AUM of the currently capital-constrained VCs... Atlanta could quickly lead the charge in improving gender and racial equity throughout the US." Read: differentfunds.com/market-pr…
32% of Atlanta VCs are women-led (where at least 1/3 of GPs are women) and nearly 23% are Black/Latinx-led; compare this to the US avg, where just 22% of VCs are women-led and just 10% are Black/Latinx-led @pauljudge @theohubs @lisa_calhoun @jewelmelanie
differentfunds.com/market-pr…
The Atlanta VC Market Profile: home to ~30 VCs with $1.4B in AUM for their most recent funds, the Atlanta ecosystem is far above the US average for women-led and diverse-led funds @atlchamber @ATLTechVillage @jen_bonnett @rodneysampson
differentfunds.com/market-pr…
Where Silicon Hills VCs invest: Consumer (34%), EdTech (28%), HealthTech (24%), Enterprise (21%), and AI/ML (21%), with notable tilts towards Wellness (17%), Synthetic Biology (10%) and elsewhere @seobrien @SiliconHillsNew @BrentWistrom #atx differentfunds.com/market-pr…
Unlike other emerging startup ecosystems, the median flagship fund in Austin is actually greater than that across the US ($72.5M in Austin vs $50M nationwide) @CapitalFactory @AtxStartupWeek @JacquelinesLife @doreenl differentfunds.com/market-pr…
Different. retweeted
I sent a tweet about Opportunity Funds last week, here's a quick post on some thoughts on the growing trend and how to think about them. ventureunlocked.substack.com…
The Austin VC Market Profile: while ranking just 10th in the US for # of VC firms, over 60% of those VCs have been founded since 2016, suggesting a fast growing local capital base cc @seats @JoshuaBaer @ClaireEngland @kerry_rupp differentfunds.com/market-pr…
VCs headquartered in Miami invest across 80 different unique sectors differentfunds.com/market-pr… @davidrgoldberg @ajt @MelissaKrinzman
This year, debut VC funds are much more likely to target environment-related sectors, with 11% focusing on ClimateTech (vs 1% of non-debut funds). See where else these new VCs are investing differentfunds.com/research/… @GreenTechLady @Revkin @ychernova
There's early signal that debut (first-time) VC funds are returning after a challenging 2020. Here's what these newest firms look like and context on what the GPs must navigate differentfunds.com/research/… @KauffmanFellows @oper8rio @jramphis
LA VCs are nearly twice as likely to focus on consumer startups, compared to U.S. VCs overall. See how else the LA venture ecosystem differs differentfunds.com/market-pr… @esrf @doublemcapital @karanortman