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Altos Ventures

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The original version of this post was published in 2006. The post has since been updated to reflect more recent industry data. The pressures to put money to work are increasing. Entrepreneurs who hit Sand Hill Road looking to raise a few million dollars, end up walking away wondering if they should raise more. We've experienced this phenomenon first hand. We've helped raise billions of dollars for our portfolio companies. We typically have more difficulty finding co-investors who are willing to invest a few million dollars than finding co-investors who prefer to invest tens to hundreds of millions of dollars in a single round. Compounding the problem, there is an increasing sense of urgency to hit bigger and bigger home-runs. Venture capital is a hits-driven business. Take away a few homeruns and returns look mediocre at best. Smaller hits no longer move the needle. Investors chase hot deals while small or "low-beta" opportunities are overlooked. Billions are invested in companies targ

Venture Lotto - Altos Ventures Ventures Venture Differently Foxes and Hedgehogs The Series B Trap – And How to Avoid It Cargo Cult Capital Why Big, Why Now, Why You? How Do You Know? Focus on the Controllables Learning to Give a Damn Decoding Due Diligence Venture Lotto Ousting the Founder Vertical Markets: A Trillion Dollar Opportunity Beyond Competitive Advantage Paradox of the Power Law in Venture Capital Venture Lotto Entrepreneurship / Venture Capital / Innovation / Efficiency / The original version of this post was published in 2006. The post has since been updated to reflect more recent

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