Three New Types of AngelList Syndicates I Hope to See

So far most of the top funded AngelList Syndicates look, well, not surprising. Capital has lined up behind social proof – angels with notable reach or track record. Additionally, funds such as Foundry Group and Google Ventures have taken their own approaches – the former creating a separate early stage entity, the latter encouraging their […]

AngelList Syndicates Will Also Pit Angel Against Angel

Jason Calacanis thinks AngelList Syndicates will hasten the death of the worst performing VCs by further commoditizing capital and giving super angels more $$ to put into deals. I’m a big fan of AngelList (#investor) and Syndicates are going to change things dramatically (previous posts). One aspect that hasn’t been discussed much is how they now […]

Deals Homebrew Lost: 2014 Edition

Blake asked for a follow-up to my post on the two deals we lost in 2013. Thanks for bringing up such painful memories! 2014 was a great year for Homebrew (or at least I *think* it was – check back in 10 years and I’ll tell you definitively). Bunch of new companies (currently 17 core investments) […]

Goodbye Party Round, Hello Piggy Round: Should Seed Stage Founders Raise From Just a Single Investor?

You weren’t supposed to be reading this blog post. It was easier to just discuss privately with other investors, but Jason Calacanis tweeted this morning about VCs trying to take entire seed rounds, and so, here it goes. Anecdotally, over the last 3-6 months we’re definitely seeing more examples of larger early stage or multistage […]

Gil Penchina’s Army: How AngelList’s Largest Syndicate Plans to Lead A Rounds, Hire An Associate & Keep VCs Honest

Gil Penchina doesn’t appear in TechCrunch or Valleywag often. He tweets infrequently. Maybe you haven’t heard of him until now. But he’s raised the largest syndicate on AngelList, turning himself effectively into a one-man fund for, if not the masses, at least the 270 people who have already committed nearly $3.4m for each investment he wants […]

Never Been Easier to Become a VC. Never Been Harder to Stay One.

Recently attended the Upfront Summit, an LA-area tech event put on by Upfront Ventures, which also serves as their annual meeting for LPs to get updated on the fund’s performance. As we approach Homebrew’s one year anniversary we’ll do a smaller scale meeting with our investors in San Francisco. Part of our presentation will be portfolio financials, which, because […]