The Data Room #4

Weekly Fundraising Overview

< Sector specific weekly fundraising overview // 3.24 - 3.30 >

The Mad Dash

< Curated charts that filter the noise to tell the real story >

VC/PE multiples are lower than public equity multiples for the first time in 10 years per Morgan Stanley. The VC opportunity set increasingly attractive per Gavin Baker of Atreides Management, LP.

A beautiful visualization of where SVB funds flowed following this months collapse of the startup darling. The rich get richer with JPM capturing 50%, while Mercury emerged from the ashes as a new power player in fintech banking alternatives.

To little surprise, the private market excitement around AI has bled into the public markets, with data from quarterly earnings calls showing a spike in AI mentions. At the same time, Crypto popularity continues to subside in the face of regulatory uncertainty.

Venture Capitalists’ net returns to LPs has been lackluster over the last couple of years. Likely evident of the spike in new fund managers coming out of the 2020-2021 vintage failing to convert TVPI (paper mark ups) to DPI (actual capital returned to LPs) - via Chamath’s recent blog post.

Must Reads of the Week

< Top reads from the week in fundraising, startups and venture capital / >

• [Bloomberg] Tech sector H-1B workers’ spouses can work in U.S., judge says 🎉

• [ZeroHedge] US-China Decoupling Will Force Europe To Choose Sides Sooner Rather Than Later

• [WSJ] Technology Slump Refocuses Startups on Capital Discipline

• [David Sacks Blog] The Give-to-Get Model for AI Startups

• [Bloomberg] US Banks Have $620B of Unrealized Losses on their Books

• [TechCrunch] First Citizens is acquiring $72B in deposits and loans from Silicon Valley Bridge Bank

• [Reuters] China's Alibaba to break up empire into six units as Jack Ma returns home

• [VisualCapitalist] The Explosive Growth of Sports Betting

• [TechCrunch] Twitter tells GitHub to remove proprietary source code and help them ID who posted it

• [CNBC] Ethereum co-founder says ether not a security, compares it to oil after regulator claims

Cant Miss Tweets

< Must-See Tweets from VCs, Angels and Builders / >

Fundraising Journey Q&A

< Sharing insights & takeaways from the fundraising process / >

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