National Venture Capital Association (NVCA) named our partnership, True Ventures, as the venture capital firm of the year. It is always an honor to be recognized by our peers, but in the end, the award is a reflection of the people who we serve — the founders, their teams and their families. 10,000 of them. It has taken over a decade to get here — one startup at a time. Some of them are big (Automattic), some define the zeitgeist (Blue Bottle, Peloton, and Ring) and others are writing the script of tomorrow today, companies like Veniam and Zymergen.
Despite a boom in startup activity, more and more companies being formed, it doesn’t mean that more good companies are being created. I keep seeing the same names hit up investors again and again. A few successful ones are garnering a lion share of the total funding dollars, especially as they get more traction. Even those companies that have little traction are generating a lot of investor interest, while others who fall in the in-between range are getting less attention. Continue reading “Startups are a global opportunity!”
I was recording a podcast with Matthew Panzarino, editor of TechCrunch yesterday and the conversation turned to current state of Silicon Valley, and the point I made was that as an industry we have been focused on a limited set of metrics – growth and intelligence, for example.
Sure, like any intellectually intensive industry needs high level of IQ, but as we become more embedded and enmeshed in mainstream socio-economic and cultural fabric, technology industry needs to have an equal and perhaps more focus on values and emotional impact of what we create. Technology is a lot more pervasive and embedded into our lives. It is not something that just impacts that operations of a company, an industry or a small subset of population. The digitization’s influence is far-reaching. I have written about need for empathy and understanding.
But in reality we need to start within our own industry — our own ecosystem of investors, startups and finding ways to be more inclusive. It is time to let go of dogmas that have corrupted how our system itself works. My partner at True Ventures Jon Callaghan have very eloquently written about this topic and if you get a chance, give it a read.
Time flies – and there is nothing to make you aware of that zooming through life than memories. I remember walking into the tiny offices of the yet fully formed True Ventures in San Francisco’s Presidio, not too far from the Lucas Arts sprawling campus. I sat down for a meeting with the core team of the newly founded True Ventures and walked out with a term sheet for my company. That was ten years ago. Continue reading “At True we have a new $310 million fund”
What an emotional week! I have been unable to comprehend the impact of United Kingdom’s decision to leave the European Union. It was not how I expected to end my week – considering I spent the first three days in uncharacteristically warm Stinson Beach, in the company of my colleagues from True Ventures. Continue reading “What a week that was”