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Seed is the new Series A, but who’s supporting founders pre-launch?

Jason Calacanis just published a good post on the changing definitions of Seed, Series A, and Series B investment. I’m going to quote his definitions in full:

2004 definition — Pre-funding: You talk about your idea & write a business plan. — Seed Round: You build a prototype of your product. — A Round: The funding […]

Presentation on the future of funding

I was scheduled to give the embedded presentation in one minutes time to the London School of Economics SU Alternative Invesments Conference but they are running late, which gives me a chance to put it online. You saw it here first

This will be the second time in a week that I’ve presented […]

Great investing comes down to betting on new markets

Over the last couple of days a lot of people have been linking to Jerry Neuman’s great essay on the history of venture capital. It’s US focused, starting when the venture industry started in the 1970s and analysing all the up and down cycles of investment and returns since then. It’s a long read, but […]

Breadth and depth of UK VC market improving

Here in the UK we’ve been working away building our startup ecosystem for 15-20 years (just 15 years for me) and it’s only recently that I’ve felt we are finally reaching critical mass. That’s a subjective assessment combining strength and depth of the angel and VC markets, number of quality investment opportunities, number of […]

Your seed round should last 12-18 months – data

The ever excellent CBInsights just released new data on the time between rounds. As you can see from the chart above year to date in 2014 the median time between seed and Series A has been 349 days and that’s been reasonably consistent over the last couple of years. If the median time is […]

Cultivate the calmness that comes from knowing you will succeed

YC interview advice: 3. Have the calmness that comes from knowing you’ll succeed regardless.

— Paul Graham (@paulg) November 13, 2014

Reading this tweet from Paul Graham I immediately thought that this is great advice for multiple situations, not just YC interviews. Job interviews are one such other situation. Negotiations are another – knowing you […]

High growth startups are a big deal for the UK economy – new research

There’s a new report out on the impact of high growth small businesses on the UK economy. Last week I wrote about some new research showing that nearly all job creation in the US comes from young companies and concluded by saying it would be great to see some similar research in the UK. […]

How to handle existing investors when negotiating a new round of investment

In the last year we have had new investors lead rounds at about ten of companies  (including two that are about to complete). In every case we are happy our new partners have come on board,  but there were some processes that went better than others.Here’s what I think makes a process a good […]

What investors look for in a startup

The post below first appeared as a guest post by me on the Web Summit Blog

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If you ask most VCs what they look for in a startup they will say great team, great product and great market. Then, if you press them for more detail most will say that for them the team […]

Top 20 cities for venture capital – London in at #7

The table below was published by Martin Prosperity. The data is for deals of $5m-200m from 2010-13 and hence excludes lots of deals that are included in other studies which show a much larger market.

Given that San Francisco and San Jose/Silicon Valley are effectively one market the right way to think about this […]