Jeff James Martin

🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ 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 #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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🚀Exciting News! AGS LABS / ALES GREY™ has been invited to pitch at FoundersBoost LA’s spring cohort and the Alliance for Southern California Innovation SoCal Venture Pipeline program at Google! If you’re an investor, please join us on June 4th for an exclusive joint Demo Day by FoundersBoost LA & the Alliance for SoCal Innovation! 🌟 The Alliance and FoundersBoost are joining forces to showcase some of the top young companies in LA! In addition to hearing the amazing pitches, you’ll be able to network with other investors, incredible mentors, supporting partners, program leaders, and the startup founders. Refreshments will be served. 🍹 📌 IMPORTANT NOTE: This is a private invite event due to capacity constraints and to maintain a value-add atmosphere. Sign Up Link Below. https://lu.ma/lademoday Don’t miss this opportunity to discover and support the next big thing in innovation! 🌐 #FoundersBoost #DemoDay #Innovation #Startups #Investors #Networking #PitchEvent #AGSLABS #ALESGREY #SoCalInnovation #GoogleEvents

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An interesting article below, that demonstrates out how San Diego is punching above its weight.  And how Connect's strategy and execution over time, contintues to be central to that success. The article describes the current state of the market in Seattle.  (And i love Seattle.) It's a market that we tend to track with relative to venture fundings.  They used to kick our butts, we outraised them each of the last three years.  This despite the fact they have 3x as many funds there, and 9x the amount of resident capital there. (per pitchbook) Some key takeaways:  * They continue to compare themselves to SIlicon Valley. Instead, we leverage our proximity. *They whine there's not enough local investors (see note above - they have more than us). We bring over 200 VCs to SD annually! * They say founders are not connected with one another. We bring CEOs together regularly, in a variety of ways - private dinners and through our Springboard program. * They say they need to elevate their image on a national & international stage. Why we created and continue to build Five.Ten.Thirty (aka Inno Day).  * And the last paragraph - they need to concentrate on making their region a great place to live. Our mantra: "It's about Better, not Bigger." (See XEO, TL Fund). THANK YOU FOR ALL OF YOUR SUPPORT. WE ARE ON A MISSION TOGETHER!!!  (Comments, whining, suggestions on SD always welcome.) https://lnkd.in/g6Rq_f2Y

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Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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I am honored to host Nolan Bushnell for a fireside chat at TechCon SoCal 2024 in San Diego on May 24th. We'll discuss how his innovations at Atari laid the groundwork for today's tech landscape and what lessons we can draw for the future. 🌟 Why Nolan Bushnell is a Must-Hear for Every Tech Enthusiast🌟 🕹️ Pioneering the Video Game Industry: Bushnell's creation of Atari and the iconic game Pong marked the beginning of the video game era, democratizing technology through entertainment. By democratizing technology through entertainment, Bushnell made electronics and computing accessible, inspiring a generation and catalyzing the tech ecosystem. 👔 Redefining Startup Culture: Bushnell invented a new breed of Silicon Valley entrepreneurs: visionary, bold, and nonconformist. His management style and the work environment he fostered at Atari—including laid-back elements like beer and ping pong—helped set a template for Silicon Valley's informal and innovative corporate culture, influencing giants like Google and Facebook. 🌱 Innovating Venture Capital: Bushnell became a crucial pivot in VC history by becoming the first example of how new business models over technology advancement become VC "fundable". Sequoia Capital's first seed investment concept in Atari demonstrated the profitability of supporting early-stage consumer tech businesses. It broadened VC horizons to include software and entertainment, impacting how venture capital operates today. 🚀 Driving Silicon Valley's Evolution: The Foundation of Silicon Valley was Arthur Rock funding Fairchild Semiconductor & Intel, establishing the semiconductor industry, and putting the silicon in Silicon Valley. The expansion phase was Don Valentine's investment in Atari, expanding the focus from hardware to software and entertainment, creating the video game industry, and expanding Silicon Valley's tech ecosystem. Bushnell's role enabled the Transformation Phase of Silicon with the 1980 IPOs of Apple and Genentech, showcasing SV's innovation breadth across multiple sectors. 🔗 Enabling Icons: Bushnell provided Steve Jobs, who did not have a college degree, with his first job inspiration for the idea of bringing computers to home users, invaluable introductions and opportunities, and influenced the birth of Apple. 🎮 Inspiring Future Innovators: By integrating fun into computer use, Bushnell likely accelerated technological innovation by making computing appealing to those who might not have otherwise engaged with it. His work at Atari made the daunting world of computers relatable and exciting, inspiring many future founders and technologists. Nolan's influence is evident in the increased computer literacy and the surge in tech-driven career interests among the youth of his time. Connect with over 80 early-stage investors and hundreds of founders from San Diego, the Bay Area, Austin, Denver, and New York. Explore more about the event at https://lnkd.in/gTYMN65n

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Exciting news for startups! California accounts for about 50% of all venture investments. The not-so-secret reason is that non-competes are illegal in California, so engineers at FAANGs can build competitors without fear. Today, the US Federal Trade Commission declared non-compete agreements illegal nationwide. This means that engineers at big tech companies can now leave and build their own companies without fear of violating a non-competes (legacy agreements for executives are still enforceable - talk to your lawyer), this is a step in the right direction for fostering innovation and competition across the country. A variety of big-business groups have vowed to sue to bring non-competes back, but at least for now, they're gone! #startups #innovation #competition #noncompete Official Announcement: https://lnkd.in/gRXUpgDy Impending lawsuit: https://lnkd.in/gqSiVuTd

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We discovered some major tech employee trends in SignalFire's new State Of Talent report, including that SF lost lots of talent to NYC but owns the AI boom, and Gen Zs switch jobs 2X faster than Gen Xers. Other top insights include: -NYC won the pandemic tech talent relocation race, while SF saw the biggest exodus (but is still growing as people enter the industry) -Tech is big in Texas! Austin is rapidly emerging as a top-tier talent market, growing headcount 23% since the pandemic, while Dallas grew 19% -Gen Zs are slower to become managers. Whether due to less space or less intention, just 2.8% of Gen Zs were managers 4 years into their careers vs 7% of Gen Xers. -Gen Zs are also hopping jobs 2X faster, averaging 2.2 jobs in the first 4 years post-grad vs 1.1 for Gen Xers -Investors are increasingly backing older founders, especially in health and security. VC-backed founders are now twice as likely to have 15–20 years of experience vs a decade ago By crunching data with SignalFire's own in-house Beacon AI, we also found employers want data engineers not analysts, and SF is by far the #1 home for AI talent. Check out all the trends in the full report:

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Today marks a groundbreaking moment for BLCK VC and our fellow collaborators—Diversity VC, All Raise, 2Gether-International, SomosVC, StartOut, and VetsinTech—as we proudly announce the launch of the Diversity Data Alliance. This important alliance underscores our unwavering commitment to nurturing a venture capital and entrepreneurial ecosystem abundant in equity and inclusiveness. By standardizing and linking our data, we empower ourselves with the essential tools to track deeper trends that have, until now, eluded us to identify and fill funding gaps for historically excluded investors, founders, and operators. We can’t change what we do not measure, and now with the Diversity Data Alliance, we're now equipped to do both. Join us in this mission. Learn more and get involved: https://lnkd.in/eEZKdrac #DiversityDataAlliance #BLCKVC #VentureCapital #MeasureToChange

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The shift is happening! Traditional venture firms are finally realizing that the most valuable people on cap tables have real operational skills to support the growth of their portfolio companies... starting with HR leaders. And don't take my word for it -- check out what roles they're hiring for 😏 I went on "HR Heretics" from Turpentine to share how VCs can provide real, actionable support for founders ✨💙

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🌟 Navigating Venture Capital: Valar Ventures' Evolution and Successes 🌟 In the dynamic world of venture capital, even seasoned players like Valar Ventures LLC face the winds of change. Founded by the visionary Peter Thiel in 2010, Valar Ventures, under the stewardship of Andrew McCormack and James Fitzgerald has navigated the complexities of fundraising with both resilience and adaptation. 💼 💰 **Fundraising Dynamics**: Valar's recent $300 million Fund IX marks a strategic pivot amidst a shifting fundraising landscape. With valuations in flux and LP sentiment evolving, the fund size represents a deliberate recalibration, reflecting the firm's commitment to prudent growth and strategic alignment. 💡 🚀 **Investment Strategy**: Beyond the numbers, Valar's investment ethos remains rooted in foresight and agility. From pioneering ventures in cryptolending with BlockFi to transformative successes like Wise, Valar's portfolio mirrors a blend of strategic foresight and calculated risk-taking. 💼 🔍 **Performance and Challenges**: Like all ventures, Valar has faced its share of challenges. Despite notable successes, such as Wise's monumental IPO, setbacks like BlockFi's Chapter 11 filing underscore the inherent volatility of the startup ecosystem. Nonetheless, Valar remains undeterred, forging ahead with conviction and resilience. 📉 🌱 **Evolving Focus**: From its origins in New Zealand to its current specialization in fintech worldwide, Valar's journey reflects a constant evolution driven by market dynamics and strategic imperatives. Adaptation and expansion have been hallmarks of Valar's trajectory, positioning it as a global player in the fintech landscape. 🌍 💬 **LP Perspectives**: While LP sentiment may vary, Valar's commitment to delivering value remains unwavering. Despite critiques from some LPs regarding returns, Valar's track record speaks to a blend of perseverance, innovation, and strategic acumen. 💼 🌟 **The Journey Ahead**: As Valar Ventures charts its course amidst an ever-changing landscape, one thing remains certain: the spirit of innovation and the quest for transformative impact continue to drive its endeavors. With each investment, Valar reaffirms its commitment to shaping the future of fintech and beyond. 🌟 ✅ Looking to raise capital for your #VCfund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments (Series A/Series B)?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VentureCapital #Fintech #Innovation #StartupSuccess #ValarVentures #PeterThiel #InvestmentJourney #investments #vc

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"I’m a big believer in balance to ensure long-term sustainability. When I created my goals for the year, I made sure to plan within four categories: money (business), fun, personal wellness, and relationships. My high-level goal is to be intentional about each of these categories. This allows me to stay balanced and make sure I’m prioritizing all the critical building blocks of my happiness and health." Read my full interview with Grace N. on the challenges of building a business from scratch, my advice for other women founders, and more! https://lnkd.in/ghmpWMMH

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Charles Hudson is hands-down one of the sharpest minds in early-stage investing. As the Founder and Managing Partner at Precursor Ventures, Charles has backed over 375 companies and supported more than 400 founders. → His portfolio includes hits like Clearco, Juniper Square, and Carrot → He's helped founders raise over $175 million across four funds → He's an active leader in the VC community, serving as the 2023-2024 Chair of the NVCA Board of Directors But even with all of his successes and accolades, what really sets Charles apart is his founder-first philosophy. He's not looking for "coachable" founders who hang on his every word. He wants founders who are decisive, independent thinkers. He believes his job is to give founders what they need, not impose his own agenda. Charles is the kind of investor every founder wants in their corner. One who shows up, follows through, and builds genuine relationships over time. And on this week’s episode of Minimum Viable Podcast, he's sharing his insights on what makes for a truly productive founder-investor partnership. Founders, this is a conversation you’ll want to hear. — What's the #1 quality you look for in an investor? Tune in to the full episode when it drops this Wednesday to hear much more from Charles and learn how to make the most of your investor relationships.

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Want a front-row seat to the frontier of tech? We’ve got the role (or two) for you! We’re expanding our frontier-tech team at Blackbird by hiring a Frontier Tech Investments Associate and Foundry Fellows! Got questions? We've got answers... 1️⃣ What are the roles? 🧪 Associate = a full-time VC investment gig in our Blackbird Investments team, working directly with me. We’re looking for someone with a science and/or engineering background and more curiosity than they can handle. You’ll grow your own investment brand and practice, support our portfolio founders, and will help build Foundry, our early-stage frontier-tech accelerator. ✨ Foundry Fellow = a casual/contract gig in our Blackbird Investments team, ~15h per week for 3 months. The Fellowship is ideal for PhD students and ECRs who want to learn more about startups and VC. You’ll go deep on emerging areas relevant to your expertise (or curiosity!), get a front-row seat to groundbreaking companies in those areas, build out your non-academic network, and develop a solid writing practice. 2️⃣ Why are you hiring? We love frontier tech, and we’re ready to grow our team. 3️⃣ Wow, it’s so great that you’re starting to look at deep tech! Look, we get it: we don’t make a lot of noise about our frontier tech investing. Buuuut we’ve been deep-tech investors since we backed Tim Kentley-Klay to found Zoox back in 2014—we’ve been on incredible journeys with PsiQuantum (building the world's first utility-scale quantum computer right here in Australia!), Inventia Life Science (transforming drug discovery with high-fidelity cell models), Remedy Robotics (surgical robots for remote endovascular procedures), Opto Biosystems (minimally-invasive neural implants to treat cancer), and more. We believe that frontier technologies, and great frontier-tech investing, will be part of the solutions to the greatest problems humanity faces today. 4️⃣ When do applications close? May 31st at 11:59pm AEST. 5️⃣ I have more questions! I’m sure you do! Clare Birch and I are hosting an AMA to answer any and all questions about these roles. Want to know what a week in the life of our team looks like? What’s keeping us up at night? What our ideal candidate looks like? Come along and find out - registration link in the comments 👇 Apply for these roles: Associate - https://lnkd.in/gCfj4EUJ Foundry Fellowships - https://lnkd.in/gj6ATZVZ If you know anyone that we should meet, send me their details! Cameron Elise Ben Andrew Robin Joseph Adelaide James Olivia Lucinda Raghav Jesse Christie Mohamed Tom Amee Pablo Haya Loong Hon Joshua Benjamin Megan Harry Denzil Matthew Diana Daniel Tom Deanna Justin Amar Lilly Stone Thomas

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Tomorrow is release day for The Illusion of Innovation, a collection of my experiences and the lessons I've learned collaborating with many corporate executives, startup entrepreneurs, and changemakers over the last several years. I'm incredibly excited to get it in your hands, and I can't wait to hear what you take away from the book! If you haven't pre-ordered yet, it's not too late: #IllusionOfInnovation #CorporateInnovation #VentureBuilding

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Two weeks ago I spent 3 days with brilliant human beings discussing the state of AI investment with other angel syndicate leads, angel investors and VCs at Hustle Fund's #camphustle in Los Gatos. It was brilliant. Truly awesome to learn so much from insanely accomplished investors. But was so clear to me again is that the US and the UK are two countries divided by separate languages of ambition. Aspiration and ambition underlined by the cluster effect of successful exits, incredible talent and venture capital driven by operators and founders rather than accountants. But one reason why the US often trumps (pun not intended) the UK is they learn from failure. Run a startup that didn't reach the dizzying heights of venture-scale returns? Learn, reset and go again. What they certainly do not do is look at failure with glee and an "I told you so" attitude. Which is what I sense when I read most of the narrative around the failure of Cazoo. Alex Chesterman swung and missed. The business was flawed, unit economics didn't add up and in reality - there was very little innovation outside the vertical alignment of a well-understood business. But when we look down upon what he tried to do and 💩 💩 it all we're doing is making it harder for someone else to be equally as ambitious. Focus on what went wrong. Focus on the fundamental underlying business models that drive efficient use of capital and the push for profitability. But let's celebrate people shooting their shot and not celebrate the failures.

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That's why it's often very difficult to recognize new leaders – their ideas go beyond the conventional frameworks we're accustomed to. Keep your mind open. Don't let yesterday's templates define your future. #Leadership, #Innovation, #OpenMind, #FutureThinking, #venturethinking,   https://lnkd.in/eASPGsuu

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118 VCs (one hundred eighteen!) are gathering in San Diego next week - to meet with 30 SD startups. But it's so MUCH bigger than just those 30 co's. It brings VCs back - when they see quality companies. It helps those who are next-in-line and adjacent. It enables us to send deal flow all year 'round. It attracts talent and other companies. It inspires entrepreneurship. Connect is working for SD. Together, we're building the best damn innovation ecosystem on the planet. Year over year. Five.Ten.Thirty.

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While in SF... Drivers will be gone, whether we like it or not. They will need to learn a different skill. We will all have to learn a new skill sooner or later, if we haven't already. We will have to reinvent ourselves multiple times within our lives. The concept of a career is becoming outdated. Millennials stay two years and eight months at each job. Gen Z stay just two years and three months. What is the idea of a career anyway? It was literally invented by a person a hundred years ago at the dawn of the industrial age when suddenly there were all these people in cities who didn't have work, and you had all these new companies that didn't know how to find workers. So a guy named Parsons invented the idea of a career. And the idea was that you're going to make a decision once in your twenties, if you were a man, and you were going to do this for the next 50 years. We are going through one of these shifts, and we don't have the frame. We are moving from knowledge-based jobs to mission-driven jobs, from permanent to gig-based employment, from hard skills to soft skills. We first need to bust the myth that you're supposed to know exactly where you're going. #ai #driverlesscars

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