Michal Lasocki

Compare 2 approaches for a corporation: 1. Corporate Venture Capital – investing $500K-5M for up to 5% in a company. Spending $50-100K on due diligence and closing the deal. CVC typically utilizes the technologies for their main business in only 30% of targeted startups. 2. Corporate Venture Client Model – scanning 100+ startups with new technologies a year. Paying $1,000 to $100,000 per pilot project. In 100% of cases, you test these new technologies. If these technologies are critical for your company, then you can acquire the company in 5-10% of cases. If you want to move fast and the priority is to help your corporation progress – consider focusing on the venture client model. This reasoning comes from Gregor Gimmy, who initiated this approach at BMW after joining the company in 2012. In 2012, Gregor noted BMW's minimal engagement with startups. He highlighted the vast number of venture-backed startups, noting that out of 50 million new companies annually, about 250,000 receive venture funding. He estimated that around 25,000 of these could be relevant to BMW, representing approximately $50 billion in venture capital. Despite the large number of relevant startups, BMW was only engaging with 3 to 5 per year, leading to what Gregor described as a significant "startup gap" — a big mismatch between potential resources and their utilization. He proposed increasing interactions with startups from 3-5 per year to 50-100. He simplified legal and purchasing processes and launched the BMW Startup Garage in 2015. In 2018, after demonstrating the model's success, he left BMW and launched 27pilots — a firm that helps corporations implement venture client models. In 2023, it was acquired by Deloitte, which was struggling to launch its venture client services. + The venture client model allows companies to engage with and utilize startup technologies through pilot projects directly. This direct approach accelerates the integration and practical application of new technologies within the company. + The venture client model typically achieves a nearly 100% success rate in engaging startups for technology pilots, compared to the significantly lower engagement rate of CVC. - A disadvantage of the venture client model is that by not investing in or acquiring a startup, competitors might secure exclusive access to critical technologies. However, if a technology is truly critical, a corporation can choose to acquire the startup to ensure exclusive access. View the full episode for additional insights and detailed figures:

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🔥List of Seed & Series A US VCs🔥 US investors' average valuation in the seed phase is $15m, compared with European, which is $7,1m. This is a good opportunity for US companies and European-based startups with HQ or legal entity from the US. I would love to share lists of the active US seed & Series A VCs that are actively invested in companies with a presence in the US market. To get the database, please complete BOTH STEPS (Step 1 & Step 2) Step 1: Comment on the post below Step 2: Drop me a DM/Inmail (with a connection request if we're not synced up) saying "US VC" and I will send you a link to the database. Step 3: (Optional) ♻️ Found this helpful? ↳ Repost it so your network can benefit from it, too.

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April 23 2024 - 10 Notable Articles To Read Article: A boring IPO market is a good one — for now Takeaway: We need less risky IPOs to restore confidence in the market. Source: Financial Times Link: https://lnkd.in/dZDuTZT2 Article: There Is An AI Bubble Takeaway: We have not reached the stage where AI is taking over; rather, we are at a point of augmented AI that still requires human interaction. Source: Medium Link: https://lnkd.in/d5BMBhEf Article: Decoding leadership: What really matters Takeaway: Effective leaders tackle problems efficiently, achieve strong outcomes, embrace diverse viewpoints, and provide support to others. Source: McKinsey & Company Link: https://lnkd.in/daa2a2Rm Article: The Very Best Philanthropic Advisers Takeaway: Distinguished individuals collaborate with the world's wealthiest through philanthropic efforts, working with organizations like Arabella Advisors, Phīla Engaged Giving, The Bridgespan Group, GiveTeam, and Strategic Philanthropy, Ltd. Source: The Information Link: https://lnkd.in/dMJp-kkD Article: 5 Toxic Habits That Destroy Your Brain Takeaway: Habits play a crucial role in our lives, but it's essential to steer clear of negative habits like procrastination, overconsumption, the absence of goals, and trying to be a jack of all trades. Source: Kurtis Pykes Link: https://lnkd.in/ddwtt3G9 Article: Hedge funds told to strengthen liquidity management Takeaway: Financial Stability Board (FSB) is advising funds to increase their liquidity in response to market-wide stress. Source: Funds Europe Link: https://lnkd.in/dA2YYDVP Article: 5 Charts: Q1 European VC trends show sunnier skies Takeaway: European VC funding has increased in Q1 2024 - 19% from Q1 2023 and 15.6% from Q4 2023 Source: PitchBook Link: https://lnkd.in/dnC5-ufE Article: New York Stock Exchange tests views on round-the-clock trading Takeaway: NYSE is doing research to offer 24/7 exchange Source: Financial Times Link: https://lnkd.in/dRm2vk-D Article: Apple acquires Paris-based AI company Datakalab to bolster its AI technology Takeaway: Apple's purchase of Datakalab underscores its strategy to further develop computer vision technology for its products. Source: Neowin Link: https://lnkd.in/dUXcsRx6 Article: India seeks to secure critical mineral resources in race for lithium Takeaway: India's government-operated mining companies are seeking mineral reserves in South America and Africa, positioning themselves as competitors in the global energy supply chains market against China. Source: Financial Times Link: https://lnkd.in/dxFk4g6C #research #news

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🚀 Are Europe's Startups in Need of a New Breed of Venture Capital Investor? 🌍 💡 According to David Rosskamp, managing partner of Berlin-based Magnetic Capital, "world-class venture capital is an artisan craft." He contrasts it with the industrial-scale operations of some of Europe's largest institutions, suggesting that these organizations operate with large and undisciplined portfolios, making it challenging to stay closely connected to their investments. 🎯Rosskamp's firm, Magnetic Capital, takes a different approach. "Our funds are deliberately small," he explains, "capped at €120 million." This deliberate choice allows Magnetic to run focused portfolios of early-stage investments in specific themes, offering closer attention to the businesses it backs. 📉 The argument is compelling. While investors in venture capital funds have sometimes been underwhelmed by the results, the sector has also had some big hits. Rosskamp's approach challenges the status quo, advocating for a return to focused, disciplined investing for potentially better results. 💰 Rosskamp, however, is convinced that Magnetic resonates with investors, as well as businesses looking for funding support. He emphasizes the importance of discipline in venture capital outperformance, a key factor often overlooked in Europe. With a team that operates through partners rather than an inflated organization, Magnetic aims to maintain a hands-on approach to its investments. Rosskamp describes Magnetic's approach as a "1970s-style" venture capital approach, with partners engaging in deep-level discussions about portfolio direction. “We think in first principles,” he explains. “What are the necessary building blocks of an inevitable future in our themes and target sectors, and how can we help create them?” 🔍 Magnetic's current focus areas include resilience and security, climate, and modernization of core industries, seeking early-stage firms with broader applications. Examples range from plant-based meat production technology to neobrokers and energy suppliers. Rosskamp emphasizes Magnetic's history of being early movers in emerging sectors, supporting startups that later attract broader investor attention. 💡 Despite Europe's evolving venture capital landscape, Rosskamp believes there's still room for Magnetic's unique approach, promising to back ambitious attempts to address Europe's biggest challenges and create lasting impact. Original interview published by Forbes ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VentureCapital #EuropeanStartups #InvestmentStrategy #FocusedInvesting #DisciplinedInvestment #StartupSupport #Entrepreneurship #Innovation

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🚀 This Company Raises $555 Million Series E Funding With a Valuation Exceeding $3.5 Billion 🚀 Mirakl, the pioneering enterprise marketplace platform, has achieved a remarkable milestone, securing a substantial Series E funding round totalling $555 million. This funding round has propelled Mirakl to a valuation exceeding $3.5 billion, cementing its position as a leader in the enterprise marketplace industry. 🤝 Success Highlights: 1️⃣ Mirakl's enterprise marketplace platform is lauded for its scalability, flexibility, and potential to revolutionize traditional e-commerce. 2️⃣ Strategic collaborations with leading businesses enhance accessibility and effectiveness, enabling new revenue streams and improved customer experiences. 3️⃣ Mirakl's ongoing expansion into diverse industries and relentless innovation demonstrate its dedication to advancing enterprise marketplace technology and enhancing client satisfaction. 👉🏻 Key Highlights: 1️⃣ Surpassing the $3.5 billion valuation threshold, Mirakl reaffirms its dominance and influence within the enterprise marketplace ecosystem. 2️⃣ The Series E funding round, totalling $555 million, has been led by reputable investors, signifying robust investor confidence in Mirakl's growth trajectory and market potential. 3️⃣ Persistent refinement of the enterprise marketplace platform exemplifies Mirakl's dedication to meeting the evolving demands of businesses and consumers in an ever-changing digital landscape. 👉🏻 Let's Dive into Mirakl's Phenomenon: 🔷 Culture of Innovation: Mirakl's success hinges on its innovative culture and visionary team, consistently driving the evolution of enterprise marketplace technology and reshaping digital commerce dynamics. 🔷 Industry Leadership: Mirakl's $555 million Series E funding and $3.5 billion valuation affirm its leadership in the enterprise marketplace, signalling investor confidence in its potential to redefine digital commerce and enterprise ecosystems. 🔷 Setting the Benchmark: Mirakl's journey from inception to industry trailblazer exemplifies strategic growth and innovation. The significant funding reflects its compelling vision and transformative impact on the enterprise marketplace. 🔷 Identity and Impact: Mirakl's identity embodies innovation and impact, with a steadfast commitment to advancing enterprise marketplace technology and cultivating mutually beneficial partnerships. 💬 Point of Thought: "Mirakl's recent Series E funding round and staggering valuation underscore its pivotal role in revolutionizing the enterprise marketplace landscape. What distinguishes Mirakl in the realm of digital commerce? And what new horizons will it explore next?" Let's continue to push the boundaries of enterprise marketplace technology and forge new paths in digital commerce together! 💪 ➕ Follow Shilpi Kumari for more insightful updates. #enterprisemarketplace #digitalcommerce #innovation #fundraising #venturecapital #mirakl #linkedin

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Higher Gross Margin = Higher Valuation, BUT... Only if you calculate it correctly! Since your Gross Margin (GM) has an impact on valuation, many founders (and even more so M&A brokers) often send us P&Ls with overstated GMs. You are free to do so, as GAAP does not clearly define what should be included in CoGS. But that doesn't necessarily mean that your split is correct and/or follows best practices. GM = (Total Revenue - CoGS) / Total Revenue x 100% Typical CoGS items of a pure-play SaaS: - Hosting - DevOps - Professional Services - Transaction / payment fees - Customer Support/Success - 3rd-party software included in your product Early stage SaaS may have a GM of 90%+ as there is only hosting and payment. However, if your SaaS business is beyond the early stages, it's unlikely you'll have a GPM of 90%+. The most common mistake: Customer Success/Support is coded incorrectly. You can find more on this topic, benchmarks, and how to test whether you've put it in the right place in my last saas.wtf newsletter article. 💌 #saas #startups #valuation #finance #kpi #grossmargin #bootstrap #vc

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How is 2024 going for the European VC ecosystem? Well the market seems to stabilise around what could be call a « new normal ». What are the indicators? The number of deal, even though decreasing year on year (-26.6%), is stabilizing at 2398 deals.  The deal value also stabilize at 16.3€B raised by start-ups in Q1 2024. It’s a 18.9% increase YoY. After the 2021 VC hype, a new normal seems to be seeting in since 2022. The amount raised by start-ups now ranges from 13.5€B to 20€B.  To give a comparison point amount raised pre-covid was ranging between 9€B and 15.8€ per quarter. But in this new normal a problem still remains : exits. Start-ups and VCs are still struggling to find a liquidity to get out of deal. Analysts are predicting that 2024 will look like 2023 on this point. For the moment only 1.9€B has been exited (VS 14.9€B in 2023). Only two sectors are doing well in terms of exits : Pharma & Biotech. Thanks to big incumbents, start-ups in these sectors are being acquired, mainly for their technology and IP.    In short, 2024 seems to be a normal year post-covid year in Europe. The only surprises that we can expect will come from the AI ​​which continues to be in a hype cycle.

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On Wednesday, Index Ventures announced its new $2.3bn fund dedicated to taking advantage of recent breakthroughs in artificial intelligence, which the firm believes will ultimately reshape entire economies. Index, which invested in European poster child Mistral AI last year valued last month at $6.2bn (almost 24x of the price Index paid in 2023), also claims that over half of its recent investments have been in AI. Index is not alone. Other big VC players are eyeing AI opportunity with large funds - Andreessen Horowitz closed a $7.2bn fund in April, and General Catalyst is said to be closing its new $6bn in the coming weeks. - Established funds are on a roll. With fewer startups around, high-performing companies are even more sought after, especially those leveraging AI. For many small VCs, exercising their pro-rata rights in subsequent funding rounds of their ‘winners’ is a way to keep in the game. However, this can be challenging when a big-name fund, which drives up valuations and wants to take a significant share of the follow-on round, is involved. Many small VCs just can't afford to participate in these subsequent rounds and drop out. As a result, there seems to be a wave of new pro-rata-targeted funds that help early-stage investors exercise their pro-rata rights by funding them, typically for a 10% fee forming. (check: Alpha Partners or SignalRank) With fewer growth-stage deals and scarce capital for early-stage funds (check this week's Analysis story), an abnormally high number of VCs are unable to fund their pro-rata rights. Will pro-rata funds provide a new opportunity for early-stage funds to drive returns? #venaturecapital #femalefoundry #femalefoundrynewsletter

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🚩 22 investor red flags to look out for. 🚩 You deserve the best investors! But it’s easy to make a mistake. There are over 8,400* VCs in Europe alone. During fundraising you will meet many. And not all investors are created equal. They will all be selling themselves well. You will read and hear all kinds of superlatives. Spotting early red flags is essential. I’ve decided to help you out on this. 🚩 22 investor red flags to look out for 🚩 > Arrogant behavior > Highlife party culture mentality > No track record in your industry > Pressing you to make a decision > Slow response in communication > Slow in the due diligence process > No clear value-add besides money > Wanting to take >50% of the company > Very aggressive valuation negotiations > The VC worked only in financial services > Demanding lock-up exclusivity, during DD > Conflict of interest with other investments > No prior founder experience in the VC fund > Demanding unrealistic stake. Check trends > Wanting too many board seats or veto rights > Discouraging you to do due diligence on them > Not transparent in advance with LP constraints > No exploratory calls with your customers (if any) > Corruption proposals. Getting you into a scheme > Late for meetings and acting like nothing’s wrong > Bad feedback on them by their portfolio founders. > No transparency on process, criteria, decision-makers If you see any of these red flags, be cautious. Dig deeper. If things don’t look well, move on. It’s 8,400* of them in Europe alone. P.S. What red flags would you add? 🚩 Let's discuss in the comments. ⬇️ *According to Crunchbase

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Good news about European venture performance is always welcome! 🇪🇺 🥳 But...and actually there are many "buts" on this one...these numbers are pretty meaningless. Where to start? - Apparently the European data is based on just 223 European VC funds spanning vintages from 1986 to 2023*. That's a low single digit percentage of the total number of European VC funds raised over that time. That's incredibly statistically insignificant. - It's IRR and not DPI. IRR can be more easily manipulated. It's done a lot. DPI matters way, waaay more than IRR. - The numbers are of unrealized performance. 😳 Which we all know you can't eat, and can also be rigged. Seriously, who gives a shit about unrealized gains? - Despite all that the numbers end up so close anyways that they're within any reasonable margin of error. So pretty neck and neck in an illiquid asset class. 🤷🏼‍♂️ - Also, let's be honest, averages don't matter in venture. It's a top decile driven asset class. It's all about outliers. That's way more important than geography. European VC is notoriously opaque. Academics often avoid including it in research on VC because of this. Much of European government LP data isn’t public, and government LPs make up a large chunk of LP commitments in Europe. Also, there have been examples of European government LPs selling underperforming fund stakes to other government buyers to prop up their numbers. Any report should be taken with a grain of salt. It’s adorable though that some quickly point to it having to be accurate simply because CA is involved, as if CA is infallible. CA has an agenda in doing this for a client (Invest Europe) which itself has an agenda to push. European venture has made great progress. It's a strong asset class that deserves more LP attention (much of the upside in European tech goes to North American LPs). Let the real numbers speak for themselves though. This ain't that. TLDR: These numbers are unrealized IRR based on a statistically insignificant dataset of funds. It's a nothingburger. https://lnkd.in/eytxpqpk * https://lnkd.in/eE3HTV5W

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Main Fears of Investing in #IndustrialAI Despite the active development of industrial AI and its huge investment potential, I still see fears holding back investors from investing in this area. Here are the main ones: 1. Long time horizons. True. It takes a long time to develop a product, and sometimes, it takes even longer to sell it. However, investing in Consumer/SaaS and similar trending technologies looking for faster growth and profits comes with an opportunity cost, since they also come and go, and with new technologies emerging, some companies are quickly becoming unpopular. With Industrial #AI, the dynamics are different. While the initial phase might be slower, projects gain momentum and this goes on for extended time periods. Also, because of its relatively high switching costs, there is a good moat protecting the industry. Therefore, it is more about what kind of a ride you enjoy than about one being better than the other one. 2. Unfamiliarity. True as well. Due to its size, the industry has traditionally been the playground of Private Equity funds. This is one of the main reasons it has not been as disrupted as most other sectors, since #VCs have long skipped it. As a result, they are not used to pretty much anything regarding dealing with heavy and dirty on-the-ground stuff. However, at some point, SaaS was also a new and misunderstood emerging technology. The same goes for many other innovative segments. The very essence of venture capital is delving into new unfamiliar enterprises in a hope of matching the risk with a substantial reward. Heavy industries are ripe for disruption, hence, they have enormous potential - all the essential components for VCs to get involved are there. 3. Perceived environmental unfriendliness. Not true at all. Yes, when one thinks of a factory or an oil rig the first things that spring to mind are destroyed forests and concrete buildings with pipes belching toxic fumes. Of course there has been a lot of damage to the environment caused by heavy industries, but #technologies improve and provide advanced opportunities to change this. This is, in fact, one of the positive aspects of industrial AI. Let’s face it - we are very unlikely to stop using products that come from factories. But what we can do is invest in new technologies that make the industry a lot more environmentally friendly. New technologies are something that VCs say they kinda like, right?

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How Many VC Meetings Do Startups Need to Raise Their Seed Round? (by Data Driven VC) Dropbox analyzed several thousand Seed processes using a combination of pitch deck data and founder questionnaires. Adam Shuaib from Episode 1 summarized the results for us: 🔹 More VC meetings did NOT translate into raising more money 🔹 Founders who successfully raised had an average of 40 VCs in the funnel 🔹 Early-stage founders should aim to build relationships with the right VCs who fund companies in their sector and at their stage, rather than playing a high-volume numbers game. KEY TAKEAWAY Pitching smarter rather than harder continues to be the optimal way to get your seed round away with on average around 40 investors in the funnel.

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𝐓𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡-𝐬𝐭𝐚𝐠𝐞 𝐟𝐮𝐧𝐝𝐢𝐧𝐠 𝐠𝐚𝐩 𝐢𝐧 𝐜𝐥𝐢𝐦𝐚𝐭𝐞 𝐭𝐞𝐜𝐡 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 𝐭𝐨 𝐰𝐢𝐝𝐞𝐧. According to Sightline Climate (CTVC), growth funding declined by 33% in H1 24 compared to H1 23. The average time to raise a Series B is now 26 months, 3x longer than in 2021. In addition to high interest rates and the broader VC market slump, a key issue is that the 𝐠𝐫𝐨𝐰𝐭𝐡-𝐬𝐭𝐚𝐠𝐞 𝐠𝐨𝐚𝐥𝐩𝐨𝐬𝐭𝐬 𝐟𝐨𝐫 𝐜𝐥𝐢𝐦𝐚𝐭𝐞 𝐭𝐞𝐜𝐡 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐡𝐚𝐯𝐞 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥𝐥𝐲 𝐬𝐡𝐢𝐟𝐭𝐞𝐝. Gone are the days when companies could raise hundreds of millions off of a few MOUs. If you’re a growth-stage climate tech company out in market, 𝐞𝐱𝐩𝐞𝐜𝐭 𝐭𝐡𝐚𝐭 𝐕𝐂𝐬 𝐰𝐢𝐥𝐥 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠: 💵 𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐫𝐞𝐯𝐞𝐧𝐮𝐞: Perhaps easier said than done for many, especially if capital is still needed to build out production facilities. However if not product revenue, then pre-product/NRE revenue or a committed offtake agreement could suffice. The key here being that investors will no longer take a signed piece of paper as proof of customer demand/product-market fit, but will rather want to see that your customers are willing to put meaningful dollars on the line for the sake of being an early adopter. 📈 𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞, 𝐨𝐫 𝐚𝐭 𝐥𝐞𝐚𝐬𝐭 𝐛𝐫𝐞𝐚𝐤𝐞𝐯𝐞𝐧, 𝐮𝐧𝐢𝐭 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜𝐬: This one is tricky, especially for companies that are still at sub-scale/pilot scale production. The key here is that investors will want to know whether the technology related to commercial-scale production is appropriately de-risked. So if a company can show, even at smaller scales, that their key production efficiency variables (e.g., conversion/biomass yields, throughput rates, waste yield) are at or near where they need to be, this can help immensely. It is much easier to underwrite a company that only needs to scale the size of their production facility by 10x, than one that needs to both increase their process output by 10x while also scaling in size by 10x. 🏭 𝐀 𝐟𝐥𝐞𝐱𝐢𝐛𝐥𝐞, 𝐜𝐚𝐩𝐢𝐭𝐚𝐥-𝐞𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐚𝐩𝐩𝐫𝐨𝐚𝐜𝐡 𝐭𝐨 𝐬𝐜𝐚𝐥𝐢𝐧𝐠: Whether it be through alternative financings like grants and project finance, or operating model approaches like JVs, licensing, and contract/toll manufacturing, investors want companies to scale and exit with fewer venture dollars. In light of the IPO market freeze as well as the lackluster performance of many of the SPAC’d climate tech companies of 2021-2022, exit multiple expectations across the board have softened. Hence investors are looking to make up some of the return expectation loss with less dilution, and also seek flexible operating models that enable companies to more easily decrease spend in case of a prolonged downturn. 𝐈𝐟 𝐲𝐨𝐮 𝐚𝐫𝐞 𝐚 𝐜𝐥𝐢𝐦𝐚𝐭𝐞 𝐭𝐞𝐜𝐡 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐥𝐨𝐨𝐤𝐢𝐧𝐠 𝐭𝐨 𝐫𝐚𝐢𝐬𝐞, 𝐟𝐞𝐞𝐥 𝐟𝐫𝐞𝐞 𝐭𝐨 𝐃𝐌! #climatetech #venturecapital #growthequity #climate #startups

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Is the Due Diligence Process Broken? VCs get tons of early stage investment proposals but only a few get funded. Due diligence, crucial for decision-making, is slow and complicated. Key Points: 🔸 Lack of Standardization: Every VC has very different criteria for evaluation. 🔸 Unclear DD Process: Startups struggle with unknown expectations post-pitch. 🔸 Bias in Evaluation: Without transparent guidelines, bias can affect assessments. Can Automation Help? Yes, using AI and data analysis for tasks like market or competitor analysis and financial forecasting can speed up due diligence and ensure fairness. In conclusion, using automation can make VC practices more efficient and fair. Read our new article on Medium to get more insights.  (https://lnkd.in/gX7f7Wb6)

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What’s Happening. A View From The Castle. "Wake up little Susie, wake up"... After an interminable hibernation large VC funds are awakening. So far this year there have been 115 rounds of $100 million or more for US-based startups, compared to only 73 during the same period last year. "To do that, he’s gotta be willing to die himself and I don’t know if he’s ready to do that"... Malls are evolving to stave off the e-commerce juggernaut. Although E-commerce represents 20% of the $5 trillion total of US annual retail sales, 2X its 10% pre-pandemic share, its growth relative to traditional retail has slowed significantly. Play stupid games… The market value of meme coin Normie plummeted 99% in minutes after an exploiter (which many believe was a company insider) significantly increased its token supply by taking advantage of a smart contract flaw. Launched in March and reached a peak market cap of $130 million in April. First do no harm... Ascension, the largest US nonprofit health system, was targeted by a ransomware group that disrupted critical operations across its 142 hospitals and over 2,600 care sites. Mile high vacancy... Office vacancy in Downtown Denver has hit 32.1%, the highest rate in decades. Slam that gate… A $10 billion Starwood Capital Group real estate fund has been trying to preserve cash and credit by limiting investor redemptions. It was hit with $1.3 billion of withdrawal requests in Q1 but only returned $500 million. "How far to the point of know return"??? Farcaster, a decentralized social network popular in the crypto community, raised $150 million at a $1 billion valuation in a Series A round led by Paradigm. The platform only has 13 employees and has had 350,000 paid sign-ups. Here we go again??? For the first time since the global financial crisis investors in a AAA CMBS tranche have suffered losses (and they were significant). The loan on an office building at 1740 Broadway in NYC was sold at a steep discount - all five lower CMBS tranches were completely wiped out, and the AAA holders lost over 25% of their investment. The buyer is considering converting the property to residential. “The family is one of nature's masterpieces"... Private equity accounts for 35% of family office holdings, up from 19% in 2018. Don't worry, we know what's best for you... Amidst significant redemption requests from investors, Starwood REIT reduced its quarterly redemptions cap from 5% to 1% of the fund’s net asset value, and its monthly cap from 2% of NAV to 0.33%. The firm stated it made the move to free up liquidity without selling properties at below their acquisition costs or for below their loan amounts. Precursor to recession, or the new normal??? The yield curve has been inverted for over two years, longer and deeper than any previous inversion in the last forty years. #investmentbanking #technology #corporatecurrency #privateequity #venturecapital #castleplacement #cpgoapp

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European founders looking for fresh capital often chase deep-pocketed US investors — but recent years have seen them increasingly turning their attention to the other side of the globe. Gulf countries, which have plenty of capital lying in sovereign wealth funds and corporate VCs, are becoming attractive investors for startups and scaleups (and VCs) on the continent. In 2023, total investment from Gulf countries in European startups amounted to $3bn, according to Dealroom data — about 5% of total funding raised in the region. That’s almost a 5x jump from 2018, when the same countries invested just $627m in Europe. #GCC #fundraising #investment #deals #EUstartups #VentureCapitalists #MENA #abudhabi #Dubai #familyoffices #sovereignfunds #VCs #FOs #Funds

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-Founders should avoid overuse of revenue multiple: what it really means in startups’ valuation- Traditional valuation methods rely on a company's financial statements. If founders use revenue multiples in dealing with potential investors, they should understand the basics of valuation. Otherwise, it might appear as a lack of common sense. Here's a breakdown of the basic approaches and why revenue multiple was invented. https://lnkd.in/gbYqTpAC #Hypergrowth #Valuation #HITSERIESCAPITAL #TANAAKK

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