Friday Letter

Recent layoffs and fee cuts at venture firms point toward a difficult year ahead, but a longtime compensation consultant for VC and other private funds said the picture isn’t as grim as some might think.

Signs of stress at venture capital firms are spreading as the industry confronts the first major economic slowdown in more than a decade.

If a silver lining is to be found in the dark cloud of Q1 fundraising, it may be in the success of venture funds focused on investments to combat climate change.

Investors are finding more opportunities to play in the venture debt space, which lenders say is especially attractive following the failure of Silicon Valley Bank.

Some investors have started to push back on GPs, but it appears they are hesitant to slam on the brakes for fear of missing out on strong returns down the road.

A well-established venture firm missing its fundraising target signals that some LPs are cutting back on their commitment sizes.

One of the challenges that has emerged as potential buyers explore an acquisition of SVB Financial’s fund of funds platform is continuing access to the top names in venture capital, say sources familiar with the process.

The failure of Silicon Valley Bank presents an enormous opportunity for venture debt providers.

New research finds that more comprehensive and data-driven decision-making materially reduces the gender fundraising gap.

If a storied venture firm like Sequoia is scrutinizing its due diligence practices, other firms would do well to do the same.