What They Dont Teach You At Stanford Business School

Stuff you can't learn in B-school: LARRY CHIANG

Exclusive: Is this the best-performing VC fund ever?

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Can you name the best-performing venture capital fund in history?

My guesses would have been something from the dotcom era or a fund that got in early with Google [fortune-stock symbol=”GOOG”] or Facebook [fortune-stock symbol=”FB”]. But yesterday I was leaked some confidential documents from a limited partner in Lowercase Ventures Fund I, an $8.4 million seed fund that closed back in 2010. Active portfolio companies include Uber, Docker, Optimizely and StyleSeat, while exited deals include Instagram (sold to Facebook) and Twitter [fortune-stock symbol=”TWTR”].

This would appear to be the winner, at least from a return multiple perspective.

Through Q3, the fund had returned 3.47x of called capital and was “sitting on an additional 76.19x net value.” But that Q3 timing is important, because it does not reflect the massive Q4 appreciation that would have occurred after Uber’s most recent financing at around a $40 billion valuation.

If you update Uber’s…

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Written by Larry Chiang

January 12, 2015 at 5:43 am

Posted in Uncategorized

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