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Calling all VC fund data nerds (like me!) 🤓 Check out our first ever Fund Performance report below!

Carta VC Fund Performance report is now available, offering a unique snapshot of where the market stands and where it might be headed. We analyze aggregated and anonymized metrics from thousands of venture funds using Carta Fund Administration, including insights on IRR, TVPI, and DPI by fund vintage year. Explore the full report here!

It's beyond difficult raising a first time venture fund today. While the numbers may look stark, some context is needed in assessing the outlook. 1/ 2021/2022 shouldn't be used as baseline benchmarks for anything. During this time, the capital market was so frothy that nearly anyone with a decent angel track record/startup background could raise a VC fund of $5MM-$10MM from HNW/FO's. This lowered the barrier of entry for those with decent resumes to nearly zero. 2/ Post 2022, HNW/FO capital started to dry up (as did institutional, but pause on this for a minute). Not only were people going risk-off, but other more liquid options became more attractive, like the three month treasury. When this happened, the barriers of entry became sky-high, and the prospect of raising for two years became severely unattractive for prospective first time mangaers, particularly for those that hadn't fully committed to being career VCs. Lots of first time VC funds were raised during the last "trimester" of ZIRP because it was easy, and seemed like a fun/interesting way to work (vs. "I want to do this for 20-30 years). Also everything was working during this time due to seed deals getting mark-ups so getting LP capital was easy as LPs felt great about their VC portfolios. 3/ While Institutions back do first time funds, they do typically do not back first time managers. The difference? The former relates to a spinout from a prior firm, or someone that has had institutional training and managed 3rd party capital in the past. Institutional capital is back today for VC, but generally most institutions are putting capital into spin-outs, Fund 2/3+, and established names (According to Pitchbook, in Q1, 45% of LP capital went to the top 5 VC funds by AUM. This is a small sample size of time, but markets like this typically do cause institutional capital to flock to perceived safety). 4/ The data only captures when a final close has occured. There are a lot of first time funds raising today, but the final close may be 12-18+ months away. FO/HNW capital is starting to thaw too as we work our way through the downcycle (and the AI Boom plus the public markets performing so well helps). Additionally, we are hearing/seeing many principals / partners at current firms that are planning on, or leaving soon to start their own fund (similar to working at a company where your options are underwater, many people working at these larger firms simply do not have significant enough economic interest to incent them, particularly when the funds they have a piece of may not have as rosy of outlook as they did 2-3 years ago. I think we will seen a LOT of spinouts in 24-25. My estimate is that we will settle in the 150-200 new first time funds in 24-25.

Got a VC? Here are several successful pitch decks that helped funds like you to raise capital from LPs.

Want to see how VCs raise 💵 dor a change? Take a look at these decks!

VC fund decks that raised $500 Million From LPs... Raising money is tough for both founders and VCs, but it’s even harder for VCs. They must persuade limited partners (LPs) to invest in their venture capital funds. This post looks at how successful VCs create pitch decks that help them raise huge amounts of money. Fund managers are salespeople and pitch deck (or memo for some) is the primary sales tool. It’s often the hook to capture enough interest to secure a meeting with LPs. It also serves as support during and after a pitch meeting. Here are four main takeaways to consider when creating a deck for LPs: 1️⃣ The purpose of your pitch deck is to convince LPs of your ability to make outlier investments. Show how you access, make sound decisions on, and win exceptional deals. 2️⃣ Your pitch deck should tell a clear, concise, and convincing version of your fund's story. 3️⃣ Show, don't tell, using examples, numbers, and visuals to add credibility. 4️⃣ Let others speak to your strengths with quotes from founders, testimonials from references, and committed LPs to establish social credibility. So how's these VC fund decks looks like that raised $500 Million From LPs? Here are some template - (All thanks to Weekend Fund for curating these templates) 1️⃣ Awesome People Ventures Fund 2 Memo → GP: Julia Lipton → $20M → Link to memo: https://lnkd.in/dSiDp6ri 2️⃣ Earl Grey Capital Fund II Memo and Primer Deck → GPs: Amit Vasudev, Matt Sornson, Alex MacCaw → $20M → Link to memo: https://lnkd.in/djV2fRYq → Link to primer deck: https://lnkd.in/dNDq9BSH 3️⃣ Long Journey Ventures Fund I Deck → GPs: Lee Jacobs, Cyan Banister, Arielle Zuckerberg → $35M → Link to deck: https://lnkd.in/dmSdzJQ8 4️⃣ Not Boring Capital - Fund I Memo → GP: Packy McCormick → $5M fund → Link to memo: https://lnkd.in/dtPuCfJ4 5️⃣ Precursor Fund III Deck → GP: Charles Hudson → $40M → Link to deck: https://lnkd.in/dEuFBC-4 6️⃣ Spacecadet Deck → GPs: Wiz, Daniel Eckler → $15M → Link to deck: https://lnkd.in/dfKh_BUn 7️⃣ Todd and Rahul’s Angel Fund II Deck → GPs: Todd Goldberg, Rahul Vohra → $25M → Link to deck: https://lnkd.in/dcy-QiNe 8️⃣ Weekend Fund 3.0 Deck → GP: Ryan Hoover → $21M → Link to deck: https://lnkd.in/dUNerBSM 9️⃣ WorkLife 2 Deck → GP: Brianne Kimmel → $35M fund → Link to deck: https://lnkd.in/dzbUV6Xm That's it. For more in-depth resources, I recommend checking out Weekend Fund's materials. You can find the link in the comments. Found this helpful? Give it a like, share your thoughts in the comments, and share in your network. Credit Sahil S. #Startup #innovation #entrepreneurship #sustainability #investing #networking #venturecapital

Here's what it means to create a financial model for a VC fund, complete with templates & examples that you can use: Warning: not for the faint of heart - https://lnkd.in/g5_CBsHj 📈 #startup #venturecapital #funding

Carta has just released its first ever US VC Fund Performance report, which is now live, with data up through Q1 2024 🚀 𝗗𝗮𝘁𝗮 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 • 𝗦𝗹𝗼𝘄 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗱𝗲𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁: Funds in the 2022 vintage have deployed about 43% of their committed capital at the 24 month mark, the lowest share of any analyzed vintage. Prior vintages ranged from 47%-60% after 24 months. • 𝗚𝗿𝗮𝗱𝘂𝗮𝘁𝗶𝗼𝗻 𝗿𝗮𝘁𝗲𝘀 𝗱𝗲𝗰𝗹𝗶𝗻𝗶𝗻𝗴: 30.6% of companies that raised a seed round in Q1 2018 made it to Series A within two years. Only 15.4% of Q1 2022 seed startups did so in the same timeframe. • 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻𝘀 𝗯𝗮𝗰𝗸 𝘁𝗼 𝗟𝗣𝘀 𝗿𝗲𝗺𝗮𝗶𝗻 𝗲𝗹𝘂𝘀𝗶𝘃𝗲: Less than 10% of 2021 funds have had any DPI after 3 years. As we continue to grow Carta fund admin business in the UK and Europe, we are aiming to share similar fund performance data and benchmarks for our local clients in the future. Stay tuned! Link to full report: https://lnkd.in/g7Fy33Ya

VC fund decks that raised millions from LPs.... Raising money is tough for both founders and VCs, but it’s even harder for VCs. They must persuade limited partners (LPs) to invest in their venture capital funds. This post looks at how successful VCs create pitch decks that help them raise huge amounts of money. As an aspiring VC, this will help you get an idea of what it takes to build your own fund.. Fund managers are salespeople and a pitch deck (or memo for some) is the primary sales tool. It’s often the hook to capture enough interest to secure a meeting with LPs. It also serves as support during and after a pitch meeting. Here are four main takeaways to consider when creating a deck for LPs: 1️⃣ Show how you access, make sound decisions on, and win exceptional deals. 2️⃣ Your pitch deck should tell a clear, concise, and convincing version of your fund's story. 3️⃣ Show, don't tell, using examples, numbers, and visuals to add credibility. 4️⃣ Let others speak to your strengths with quotes from founders, and testimonials from references. So how do these VC fund decks look like that raised millions from LPs? Here are some templates - (All thanks to Weekend Fund for curating these templates) 1️⃣ Awesome People Ventures Fund 2 Memo → GP: Julia Lipton → $20M → Link to memo: https://lnkd.in/dSiDp6ri 2️⃣ Earl Grey Capital Fund II Memo and Primer Deck → GPs: Amit Vasudev, Matt Sornson, Alex MacCaw → $20M → Link to the memo: https://lnkd.in/djV2fRYq → Link to primer deck: https://lnkd.in/dNDq9BSH ................................................................................................................................. 💫 Join our 500+ VC enthusiast community to learn, network and craft a path to venture capital: https://lnkd.in/gby478Up ................................................................................................................................ 3️⃣ Long Journey Ventures Fund I Deck → GPs: Lee Jacobs, Cyan Banister, Arielle Zuckerberg → $35M → Link to the deck: https://lnkd.in/dmSdzJQ8 4️⃣ Not Boring Capital - Fund I Memo → GP: Packy McCormick → $5M fund → Link to the memo: https://lnkd.in/dtPuCfJ4 5️⃣ Precursor Fund III Deck → GP: Charles Hudson → $40M → Link to the deck: https://lnkd.in/dEuFBC-4 6️⃣ Spacecadet Deck → GPs: Wiz, Daniel Eckler → $15M → Link to deck: https://lnkd.in/dfKh_BUn 7️⃣ Todd and Rahul’s Angel Fund II Deck → GPs: Todd Goldberg, Rahul Vohra → $25M → Link to deck: https://lnkd.in/dcy-QiNe 8️⃣ Weekend Fund 3.0 Deck → GP: Ryan Hoover → $21M → Link to deck: https://lnkd.in/dUNerBSM That's it. 💫 Want daily job opportunity updates, curated resources, events and discussion sessions, check out our 500+ VC enthusiast community to learn, network and craft a path to venture capital. Join the Slack community here: https://lnkd.in/gby478Up . #startups #vc #venturecapital #founders #funding #analyst #associate #founder #fund #startup #intern

VC fund decks that raised $500 Million From LPs... Raising money is tough for both founders and VCs, but it’s even harder for VCs. They must persuade limited partners (LPs) to invest in their venture capital funds. This post looks at how successful VCs create pitch decks that help them raise huge amounts of money. Fund managers are salespeople and pitch deck (or memo for some) is the primary sales tool. It’s often the hook to capture enough interest to secure a meeting with LPs. It also serves as support during and after a pitch meeting. Here are four main takeaways to consider when creating a deck for LPs: 1️⃣ The purpose of your pitch deck is to convince LPs of your ability to make outlier investments. Show how you access, make sound decisions on, and win exceptional deals. 2️⃣ Your pitch deck should tell a clear, concise, and convincing version of your fund's story. 3️⃣ Show, don't tell, using examples, numbers, and visuals to add credibility. 4️⃣ Let others speak to your strengths with quotes from founders, testimonials from references, and committed LPs to establish social credibility. So how's these VC fund decks looks like that raised $500 Million From LPs? Here are some template - (All thanks to Weekend Fund for curating these templates) 1️⃣ Awesome People Ventures Fund 2 Memo → GP: Julia Lipton → $20M → Link to memo: https://lnkd.in/dSiDp6ri 2️⃣ Earl Grey Capital Fund II Memo and Primer Deck → GPs: Amit Vasudev, Matt Sornson, Alex MacCaw → $20M  → Link to memo: https://lnkd.in/djV2fRYq → Link to primer deck: https://lnkd.in/dNDq9BSH 3️⃣ Long Journey Ventures Fund I Deck → GPs: Lee Jacobs, Cyan Banister, Arielle Zuckerberg → $35M → Link to deck: https://lnkd.in/dmSdzJQ8 4️⃣ Not Boring Capital - Fund I Memo  → GP: Packy McCormick  → $5M fund → Link to memo: https://lnkd.in/dtPuCfJ4 5️⃣ Precursor Fund III Deck → GP: Charles Hudson → $40M → Link to deck: https://lnkd.in/dEuFBC-4 6️⃣ Spacecadet Deck → GPs: Wiz, Daniel Eckler → $15M  → Link to deck: https://lnkd.in/dfKh_BUn 7️⃣ Todd and Rahul’s Angel Fund II Deck  → GPs: Todd Goldberg, Rahul Vohra → $25M  → Link to deck: https://lnkd.in/dcy-QiNe 8️⃣ Weekend Fund 3.0 Deck → GP: Ryan Hoover  → $21M  → Link to deck: https://lnkd.in/dUNerBSM 9️⃣ WorkLife 2 Deck  → GP: Brianne Kimmel  → $35M fund → Link to deck: https://lnkd.in/dzbUV6Xm That's it. For more in-depth resources, I recommend checking out Weekend Fund's materials. You can find the link in the comments. Found this helpful? Give it a like, share your thoughts in the comments, and share in your network. Check out my free newsletter for more insights: https://lnkd.in/d_qW-_KJ . #startups #vc #pitchdeck #founders #venturecapital #angelinvestors #fundraising #LP #vcfund #founder #investors #resources #decks #LPs