Friday Letter

Will we finally see a wave of IPOs this year, or will GPs have to turn to the secondaries market to deliver liquidity to their investors?

A new Silicon Valley Bank report states that native AI start-ups aren’t incentivized to be efficient. But surging valuations for AI companies make us wonder if the point is moot.

LPs aren't happy with VC performance, but they aren’t cutting back on their commitment pace. Yet.

Advanced AI reasoning is at the heart of research engines accelerating R&D and commercialization of new materials.

A recent presentation from New Enterprise Associates shows a novel way to convince LPs they’ll get their money back.

AI is having a dramatic impact on start-ups. While it took digital-native Dropbox three years and a team of 70 to reach $100m in revenue, AI-native ElevenLabs was able to hit the same revenue in 23 months with a team of 50, says a new Harvard Business Review paper.

A new study finds 51 percent of the business leaders and board directors saying AI should be driving long-term strategic planning and 51 percent saying their boards recruited AI specialists in the last 12 months.

As LPs clamor for DPI, we expect more VCs to hire secondaries specialists to generate liquidity from aging portfolios.

Though not always based on gender, some of VCJ’s Women of Influence this year see advantages in their more intimate approach to relationship-building with founders and others in the venture ecosystem.

A report from NewView Capital shares insights gleaned from more than a dozen tender offer transactions it has participated in over the past few years.