Concerning Renowned Venture Capitalist Arthur Rock

July 15, 2009

Spencer Ante has posted an article from IBD on legendary VC Arthur Rock (with an investment resume that includes Fairchild Semiconductor, Intel, and Apple, legendary is an appropriate adjective). Rock is a protegé of pioneering venture capitalist Georges “I’ll take an Grade A individual with a B idea over a Grade B individual with an A idea” Doriot. With the venture industry going through a few hiccups at the moment, it’s a great opportunity to take some time and soak up a bit of knowledge from those who’ve “been there, done that” on a grande scale.

Along those same lines, if you haven’t already done so, I highly recommend reading Ante’s “Creative Capital: Georges Doriot and the Birth of Venture Capital“. As it said in Ecclesiastes, “there’s nothing new under the sun”, and so it may behoove those of us on the investor side to remember a bit more of the history of the industry and occasionally look for advice and guidance to those who came before us (try finding active VCs whose careers in venture pre-date the Netscape IPO. They exist, but they’re rare).

Here’s the article:

View this document on Scribd

Additionally, here’s a video of Rock from a talk he gave at the Computer History Museum a couple of years ago:


Dave Hills of KPG Ventures on Now Being Perfect Time to Invest

May 3, 2009

Here’s Dave Hills, general partner of KPG Ventures, talking about how now is the ideal time to start a business. He also talks about the differences/similarities between Silicon Valley and New York:

NVCA President Mark Heesen In Pre-Annual Meeting Talk

April 28, 2009

NVCA president Mark Heesen talking about concerns of the Venture Capital community before the association’s annual meeting. I think by now most people familiar with VC know the woes the business is having at the moment (only seven venture-backed IPOs in the last five quarters, a five-year low for fundraising, a twelve-year low for investing), but Mark also brings up regulatory issues and makes an excellent point at the end about the impact that the secondary markets are having on VC.

Dom DeChiara of Nixon Peabody on Current Seller Expectations

April 19, 2009

Here’s a very good interview of Dominick DeChiara, head of the private equity group at Nixon Peabody LLP, running through the current state of seller’s expectations. Covers everything from lower prices, to current deal multiples, to financing outs, as well as the trend for more flexible material adverse change clauses. Quite comprehensive for under four minutes!

Mark Heesan of the NVCA on the Current Climate for Venture Capital

April 8, 2009

Bloomberg interview with Mark Heesan of the NVCA on the issues currently facing Venture Capital. Notes the biggest problems right now for the industry involve late-stage companies, and points out that times of crisis produce the best start-ups:

Dixon Doll on the State of Venture Capital

April 5, 2009

An interview from Bloomberg with Dixon Doll, co-founder and general partner of DCM and Chairman of the National Venture Capital Association, talking about the challenges that Venture Capital is facing:

The Churchill Club’s Venture Capital Roundtable on Trends & Strategies for 2009

March 28, 2009

Here’s a video of a very good recent roundtable organized by the Churchill Club concerning trends and strategies in Venture Capital for 2009. Moderated by Geoffrey Yang, Founding Partner, Redpoint Ventures; the panel features Jay Hoag, Co-founder, Technology Crossover Ventures; Reid Hoffman, Chairman and CEO, LinkedIn; and Matt Murphy, Partner, Kleiner Perkins Caufield & Byers: