The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Somesh Dash of IVP joins Nick on a special Crisis Coverage installment to discuss Late Stage Impacts and Prioritizing Mental Health. In this episode, we cover:

  • Quick background and what led you to venture/IVP?
  • Overview of the firm and your focus?
  • Covid impact on later stages
  • The 2008 crisis... '08 was still strong for C round funding, steep dropoff in 2009, stayed pretty low in 2010, returning to fairly strong levels in 2011... thoughts on timing, severity and duration of impact on later stage funding?
  • Directional impact on average valuations at late stage?
  • Thoughts on exits?
  • What do you think happens in the secondary market?
  • What do you think happens with the well-funded, late stage companies in markets that are highly dependent on social interaction, mobility, travel, etc.?
  • Reasonable to complete deep diligence in a completely remote environment?!
  • You've been w/ IVP since '05... best recollections of changes in strategy made at IVP in '08/'09?
  • Suggestions on how early-stage VCs should adapt the playbook?
  • Best moves startups made to survive and/or thrive at that time?
  • Biggest mistakes you've seen CEOs make?
  • Investment in Lyra's Series C....
  • Mental health now more than ever... expectations for industry amidst WFH/social distancing?
  • Tips for delivering hard news? -- furloughs, layoffs.. especially remotely
  • Suggestions for leaders to help their people through this?
  • How to keep team morale high?
  • How are you adapting communication or work habits at IVP to better keep engagement of your people, your portcos and your LPs?

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