Jeremy Abelson
Contributor
Jeremy Abelson is the founder and lead portfolio manager of Irving Investors. Combining his experience as an operator and institutional investor, Abelson runs Irving as a multistrategy platform making long-term durable investments in both the public and private markets.
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What am I worth now?
For the first time in 4 years, profitability beats growth
Jacob Sonnenberg
Contributor
Jacob Sonnenberg is a portfolio manager at Irving Investors and runs Irving’s Technology and Consumer Crossover Fund.
More posts by this contributor
What am I worth now?
For the first time in 4 years, profitability beats growth
Venture fundraising has continued at a robust pace, but much less cash is being deployed.
Let’s start with a few headlines:
Bessemer in September raised about $3.85 billion for early stage startups, the largest vehicle in the firm’s 50-year existence.
Insight Partners in February raised over $20.0 billion, double its predecessor fund (closed in April 2020 at $9.5 billion).
Lightspeed in July raised more than $7 billion across four funds for seed to Series B rounds.
Battery Ventures in July raised over $3.8 billion with a broad mandate.
Founders Fund in March raised over $5 billion across venture ($1.9 billion) and growth ($3.4 billion) funds.
a16z in May raised about $4.5 billion in its fourth fund targeting blockchain, bringing its total funds raised for blockchain-related companies to more than $7.6 billion.
a16z separately closed $9 billion in fresh capital in January, with $1.5 billion allocated to biotech investments.
Tiger Global is rumored to be raising PIIP 16 in what could be an around $10 billion vehicle and its second largest fu …
