Greg Essakow

🌟Innovative VC Firm Overcomes Exits Drought with Secondary Sales🌟 ⛵Navigating a challenging landscape where exits are scarce, Santa Barbara Venture Partners (SBVP) has pioneered a novel approach to sustain its growth and attract investors for its second fund: secondary sales. Instead of waiting for traditional exits like IPOs or acquisitions, SBVP opted to sell shares of its portfolio companies, demonstrating its ability to generate returns for investors and stand out in a competitive market. 🎤According to Dan Engel, founder and managing partner of SBVP, these secondary transactions have been a game-changer, sparking investor interest and bolstering the firm's credibility. By leveraging its recent successes, including a lucrative stake in sports-betting company DraftKings Inc.' acquisition of digital lottery app Jackpocket, SBVP seized the opportunity to return profits to its limited partners (LPs) and pave the way for its second fund. 💡Engel highlighted the challenges faced by young VC firms in raising subsequent funds, particularly amid a downturn in exit activity and heightened investor scrutiny. With traditional exit routes becoming increasingly elusive, the pressure is on for firms to demonstrate tangible returns and establish a track record of success. ✨"For us, secondary sales have been a game-changer. They've helped us return profits to our LPs and attract investors for our second fund," said Dan Engel. 💰For SBVP, the decision to pursue secondary sales was driven by the need to provide liquidity to LPs and validate its investment thesis in the eyes of prospective investors. By strategically offloading portions of its holdings in high-performing portfolio companies like Bark Technologies and Rad AI, SBVP not only generated substantial returns but also bolstered investor confidence in its ability to deliver results. ⚠Despite the complexities and potential stigma associated with early share sales, Engel emphasized the importance of prioritizing investor returns and seizing opportunities to unlock value for stakeholders. With a focus on profitability and transparency, SBVP remains committed to its mission of delivering sustainable growth and maximizing returns for its LPs. 🔍 "Returning profits to our investors is our top priority. By strategically selling shares, we're proving our commitment to delivering results and driving value for our stakeholders," added Engel. As SBVP continues to explore secondary transactions and expand its investor base, the firm stands as a testament to innovation and resilience in the face of market challenges. 🚀 ✅ Looking to raise capital for your #fund and increase the international pool of your LP #investors?   🤝 Need warm #LP introductions?   📝 Selling #secondaries to increase liquidity?   🧐 Looking for co-investments?   ▶ G+QUANT's link for inquiries and fund decks: https://lnkd.in/gjC_EuTE #VCInnovation #SecondarySalesSuccess #InvestorReturns #ValueCreation 

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1st10 is going into the holidays with the following open searches spread across 9 incredible Seed/A funded startups. Imagine getting into SpaceX or Stripe as one of their first engineers. That's what joining one of these startups is like. High impact, early equity, invaluable experience! Fullstack AI Engineer, SF, Elite AI Dev Shop, Shaper Ventures ML Engineer, SF/Seattle/NYC, HW/SW AI Product ML Platform Engineer, SF/Seattle/NYC, HW/SW AI Product Generalist Engineer, SF/Seattle/NYC, HW/SW AI Product Mechanical Engineer, SF/Seattle/NYC, HW/SW AI Product Firmware Engineer, SF/Seattle/NYC, HW/SW AI Product Avionics/Electrical Engineer, SF, Supersonic Jet, A16Z Flight Software Engineer, SF, Supersonic Jet, A16Z ML/Data Engineer, Los Altos, Rocketship Ventures Data/Infra Engineer, SF, AI Financial Analyst, Audacious Ventures Backend Go Engineer, Remote, Open Source Access Control, Benchmark Fullstack Developer, Chicago, File Security Security and Compliance Lead, Chicago, File Security UI/UX Lead, Chicago, File Security Backend Node Engineer, Brooklyn, LLM startup, Matrix Ventures Backend Go Engineer, NYC, Autonomous Banking, Lightspeed Fullstack Node Engineer, NYC, Autonomous Banking, Lightspeed We've asked each of our startup founders and all will be available through the holidays to review and talk with candidates. That's how startups work. Of course there's time to enjoy the holidays. But no 2-week shut down like at large companies. All hands will stay on deck with meaningful progress made. As such, 1st10 will also be open for business as well. If you're a great engineer and curious about early startups or happen to know of somebody interested, dm us. Wishing all a happy holidays!

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At Elevation Search Group we see that Silicon Valley is at a crossroads. After years of seemingly unstoppable growth, the tech industry is facing a reality check. Layoffs are the headline, with 36K layoffs in the Bay Area over the past two years​ (Joint Venture)​​ (Insider)​. This isn't just a minor adjustment; it's a significant shake-up. But let's not panic. This isn't the dot-com bubble bursting all over again—it's more of a recalibration. We are finding some light as summer draws to a close and companies realize their hiring needs. #Hiring #TechJobs #AI #Marketing

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Resharing a few investor searches we started before the holidays: Sr. Associate, SF. Seed/Series A Dev Tools, AI and Infrastructure focus. Work directly with seasoned GP at well-known generalist multistage fund. Must have quantitative degree (CS, math, eng., etc.) and pre-VC experience at Mag7 or well-known tech startup (OpenAI, Databricks, Scale AI, Stripe, etc.). Full time VC experience ideal, but will consider candidates with VC internships. Bonus points for MBA and for strong financial modeling experience. Associate, SF. Pre-seed/seed AI focus. Work directly with very seasoned AI investor. Ideal for APM/PMs or 1st-time VC/YC-backed founders, but open to consultants with CS degrees or other backgrounds. 2-3 year program; ideal to gain differentiated experience before launching your next startup or getting your MBA. CS degree required. Should spike in sourcing. Q1 or Q2 start. Associate or Sr. Associate, SF. Series A-C Software, AI, and FinTech used by consumer companies (retail, e-commerce, CPG, supply chain & logistics, manufacturing). Career track. Associate level: 1-2 years structured training (consulting, product, IB, etc.). Should have had internships/externships in tech or VC and spike in sourcing. Q1 or Q2 start. Associate, Palo Alto. Series B-D Software/AI (both infra and application layer). 1-2 years IB/PE (or consulting with strong financial modeling experience). Should spike in modeling/diligence. Q2 or Q3 start. Associate or Principal, SF. Seed-Series B computational biology. 0-6 years experience across AI and life sciences. Amazing opportunity to work with some of the most well-known techbio investors in the US. No VC experience required for associate level. Should spike in sourcing. Q1 or Q2 start. Principal, SF. Series C-IPO Directs & Fund investments; generalist tech. Highly sophisticated 12-figure LP set to triple their growth equity allocation within next five years. Need 10+ years experience, including minimum four years in a growth equity or PE seat. Q1 or Q2 start. Partner, SF. Pre-Seed/Seed & Incubations, generalist tech. Need a founder & CEO that raised at least a few institutional VC funding rounds and managed a sizable team. Open to any sectors. Q1 or Q2 start. We have a few other SF-based mid level deep tech and computational biology investor roles in the funnel for SF, as well as an early stage deep tech Associate for a crossover fund in NYC. Feel free to preemptively enquire about those as well. If you're interested in any of those roles and already know someone at SCGC Search, please reach out to any of us. If you don't know anyone on our team, please get a warm intro (strongly recommended) or connect directly with Iris. Happy New Year!

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🚀 Big News! We're on the hunt for an innovative leader to join a cutting-edge Decentralized Autonomous Organization (DAO) as their new CEO in Silicon Valley! If you're a tech visionary with a passion for blockchain and decentralized ecosystems, this is your chance to shape the future and drive major innovations. Ready to lead and inspire? 💡 Apply now or share this opportunity with someone who fits the bill! Check out the link in our bio for more details. Let's make something incredible happen together! 🙌 #CEO #SiliconValley #TechJobs #Blockchain #Leadership #Innovation #ApplyNow #CareerOpportunity #TechLeaders #JobHunt #ExecutiveSearch #FutureTech #Decentralization #HR #AxeRecruiting #JobOpening #SiliconValleyJobs #Visionary #TechTalent #BlockchainJobs #ExecutiveCareer #DAO #Decentralized #DeFi #DecentralizedAutonomousOrganization

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Want a front-row seat to the frontier of tech? We’ve got the role (or two) for you! We’re expanding our frontier-tech team at Blackbird by hiring a Frontier Tech Investments Associate and Foundry Fellows! Got questions? We've got answers... 1️⃣ What are the roles? 🧪 Associate = a full-time VC investment gig in our Blackbird Investments team, working directly with me. We’re looking for someone with a science and/or engineering background and more curiosity than they can handle. You’ll grow your own investment brand and practice, support our portfolio founders, and will help build Foundry, our early-stage frontier-tech accelerator. ✨ Foundry Fellow = a casual/contract gig in our Blackbird Investments team, ~15h per week for 3 months. The Fellowship is ideal for PhD students and ECRs who want to learn more about startups and VC. You’ll go deep on emerging areas relevant to your expertise (or curiosity!), get a front-row seat to groundbreaking companies in those areas, build out your non-academic network, and develop a solid writing practice. 2️⃣ Why are you hiring? We love frontier tech, and we’re ready to grow our team. 3️⃣ Wow, it’s so great that you’re starting to look at deep tech! Look, we get it: we don’t make a lot of noise about our frontier tech investing. Buuuut we’ve been deep-tech investors since we backed Tim Kentley-Klay to found Zoox back in 2014—we’ve been on incredible journeys with PsiQuantum (building the world's first utility-scale quantum computer right here in Australia!), Inventia Life Science (transforming drug discovery with high-fidelity cell models), Remedy Robotics (surgical robots for remote endovascular procedures), Opto Biosystems (minimally-invasive neural implants to treat cancer), and more. We believe that frontier technologies, and great frontier-tech investing, will be part of the solutions to the greatest problems humanity faces today. 4️⃣ When do applications close? May 31st at 11:59pm AEST. 5️⃣ I have more questions! I’m sure you do! Clare Birch and I are hosting an AMA to answer any and all questions about these roles. Want to know what a week in the life of our team looks like? What’s keeping us up at night? What our ideal candidate looks like? Come along and find out - registration link in the comments 👇 Apply for these roles: Associate - https://lnkd.in/gCfj4EUJ Foundry Fellowships - https://lnkd.in/gj6ATZVZ If you know anyone that we should meet, send me their details! Cameron Elise Ben Andrew Robin Joseph Adelaide James Olivia Lucinda Raghav Jesse Christie Mohamed Tom Amee Pablo Haya Loong Hon Joshua Benjamin Megan Harry Denzil Matthew Diana Daniel Tom Deanna Justin Amar Lilly Stone Thomas

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𝐑𝐞𝐜𝐫𝐮𝐢𝐭𝐢𝐧𝐠, 𝐥𝐢𝐤𝐞 𝐛𝐚𝐬𝐞𝐛𝐚𝐥𝐥, is a game of stats and strategy...and while I posted this a few months ago, with Major League Baseball (MLB) Postseason in full swing, I cannot help but share again :) Here's how we measure performance in the talent acquisition league: 𝐎𝐏𝐒 (𝐎𝐧-𝐛𝐚𝐬𝐞 𝐏𝐥𝐮𝐬 𝐒𝐥𝐮𝐠𝐠𝐢𝐧𝐠) 𝐢𝐧 𝐁𝐚𝐬𝐞𝐛𝐚𝐥𝐥 → 𝐂𝐏𝐏 (𝐂𝐚𝐧𝐝𝐢𝐝𝐚𝐭𝐞𝐬 𝐩𝐞𝐫 𝐏𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭) 𝐢𝐧 𝐑𝐞𝐜𝐫𝐮𝐢𝐭𝐢𝐧𝐠 Just as 𝐎𝐏𝐒 combines how often a player gets on base with their power hitting, 𝐂𝐏𝐏measures both the quantity and quality of candidates it takes to make a successful placement. A lower 𝐂𝐏𝐏 indicates a recruiter who efficiently matches high-quality candidates, akin to a slugger who consistently drives in runs. 𝐀𝐕𝐆 (𝐁𝐚𝐭𝐭𝐢𝐧𝐠 𝐀𝐯𝐞𝐫𝐚𝐠𝐞) 𝐢𝐧 𝐁𝐚𝐬𝐞𝐛𝐚𝐥𝐥 → 𝐈/𝐎 (𝐈𝐧𝐭𝐞𝐫𝐯𝐢𝐞𝐰 𝐭𝐨 𝐎𝐟𝐟𝐞𝐫 𝐑𝐚𝐭𝐢𝐨) 𝐢𝐧 𝐑𝐞𝐜𝐫𝐮𝐢𝐭𝐢𝐧𝐠 In baseball, 𝐀𝐕𝐆 tells you how often a player gets a hit. In recruiting, the 𝐈/𝐎 reveals how often candidates moved from the interview stage to receiving a job offer. High ratios suggest that the recruiter is excellent at identifying and advancing candidates who are a good fit—essentially, they're getting more hits. 𝐄𝐑𝐀 (𝐄𝐚𝐫𝐧𝐞𝐝 𝐑𝐮𝐧 𝐀𝐯𝐞𝐫𝐚𝐠𝐞) 𝐢𝐧 𝐁𝐚𝐬𝐞𝐛𝐚𝐥𝐥 → 𝐓𝐓𝐅 (𝐓𝐢𝐦𝐞 𝐭𝐨 𝐅𝐢𝐥𝐥) 𝐢𝐧 𝐑𝐞𝐜𝐫𝐮𝐢𝐭𝐢𝐧𝐠 𝐄𝐑𝐀 measures how many earned runs a pitcher allows per nine innings, with a lower 𝐄𝐑𝐀 indicating better performance. Similarly, 𝐓𝐓𝐅 tracks the average number of days it takes to fill a position. A lower 𝐓𝐓𝐅 means the recruiter is effectively and efficiently closing the recruitment 'games'—keeping the runs against them to a minimum. Think of your recruitment strategy as building a championship-winning baseball team. Every stat counts, every player (candidate) matters, and the aim is to perfect your game strategy (recruitment process) to win the series (secure the best talent). Are you ready to team up with a recruiter who knows how to play the stats to your advantage? DM me, and let's hit some accounting recruitment home runs together! ...and yes, I'm still enjoying my Texas Rangers Baseball Club 2023 win so forgive me :) #moneyballrecruiting #recruiterlife #accounting #Dallas #talentacquisition #benchmarksearch #mlb Benchmark Search

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Need a C-Suite Product talent for your company? One who is the industry expert on Real Time Optimization?? Take a look at this FlanStaff candidate! 💠 C-Suite Product Talent - Bay Area 💠 🔹Market Growth Champion🔹 Proven track record of driving significant business growth, including recapturing 5+ percentage points of market share at one of the major Ride Share Companies and achieving 30 points of share gain at the biggest Ticket Distributor. 🔹Leadership in Product Management🔹 Extensive experience in leading large-scale product organizations, managing teams of 300+ tech staff at one of the major Ride Share Companies and 50+ cross-functional team members at the biggest Ticket Distributor. 🔹AI/ML Product Innovator🔹 Demonstrated expertise in AI/ML-powered products, delivering $1/ride margin improvements through efficiency-focused investments in ML/AI products at one of the major Ride Share Companies. 🔹Strategic Visionary🔹 Strong strategic vision, successfully pivoting Mythical from a blockchain games developer to a Platform-as-a-Service economics engine, securing a $75M Series B funding round. 🔹Product Launch Expert🔹 Proven ability to launch and scale innovative products, such as 2 prior companies Managed Marketplaces, which generated $40MM+ in annual revenue within 12 months. 🔹Talent Development Leader🔹 Exceptional leadership skills, attracting and nurturing top-performing teams, and successfully navigating through organizational changes and high-pressure situations. 🔹Marketplace Dynamics Specialist🔹 Deep expertise in marketplace dynamics, pricing strategies, and revenue optimization across various industries including ride-sharing, ticketing, and blockchain. 🔹Global Perspective🔹 Diverse international experience and educational background, including an MBA from the University of Chicago Booth School of Business and work experience across multiple countries. #ProductManagement #CLevelTalent #LeadershipDevelopment #AIandML #MarketplaceStrategy #Innovation #GrowthOptimization #TechLeadership #DigitalTransformation #BusinessStrategy #TeamBuilding #DataDrivenDecisions #ConsumerExperience #Entrepreneurship #CareerGrowth

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We are excited to share our progress in our turnaround at BODi (NYSE: BODi). We just reported our Q1 2024 financial results with: ·      Our first Free Cash Flow positive quarter since going public in 2021 ·      Our first sequential revenue growth in 2 years ·      First consecutive positive Adjusted EBITDA since going public   Our liquidity position improved by $10 million from Q4 2023 to Q1 2024. While our turnaround plan is still in the execution stage, we all have to acknowledge that after 9 months into the plan, this is incredible progress!    @Carl Daikeler, @Marc Suidan and I will be hosting the conference call will also be available to interested parties through a live and recorded webcast at https://lnkd.in/gHs8TXXj.   Q1 2024 Earnings Release: https://lnkd.in/gpfTdkKq       #Shareholdervaluecreation #DigitalFitness #DigitalHealth

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🚀 Startup Software Manager Hired in Just 30 Days!🌟 Last month, we successfully completed leadership searches for two partners, achieving results in a short turnaround time. Our recent search focused on recruiting a Software Manager for a SaaS media startup in California. We sought an experienced Software Engineer with the right blend of sector knowledge, technical expertise, leadership experience, and the ability to manage teams across time zones. As a startup ourselves, we dedicate time to truly understand the needs of our partners, leveraging our extensive experience to identify and screen for the perfect fit. If you’re a tech startup founder in search of skilled headhunters for your hiring needs, let’s connect! I’d love to see how we can assist you. #TechStartups #StartupHiring #SoftwareManager #SaaS #Leadership #TalentAcquisition #Headhunting #StartupFounders #Recruitment #TechTalent

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TechCrunch broke news of an amazing #AI play with EGYM raising $200M at a $1.2B. What is amazing about this is that they are based in Europe, and they are actually generating meaningful revenue via their #AI play optimized for going to the gym as opposed to other plays that want you to work out at home. This will be a very interesting company to watch and should give #AI Investors pause for more generic plays that are 1) Raising more funds, 2) At higher valuations, 3) With less revenue. What do you think? #management #venturecapital #privateequity #capitalmarkets #ehealth

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Up and to the right - the recent San Diego Wave team sale indicates staggering NWSL #growth in just a few short years. If you consider the 2021 $2M expansion fee [a figure now close to $55M], the $120M SD team sale translates to a 5900% #investment #value climb over 3 years. Another signal that women's sport is ripe for investment. Despite massive growth - w/ revenue expected to hit ~$1.3B in 2024 - women's sports is still nascent amid the broader, total global pro sports category - estimated at $500B. Low barrier to entry. Relatively uncluttered space. Huge ROI potential. It's compelling. https://lnkd.in/ef5bccXM

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soooo who's #hiring engineers in LA? I'm putting an uno-reverse on the hiring process 😂 for TECH WEEK by a16z where startups pitch themselves to engineers in LA, show what makes their engineering culture unique, & why top engineers should work there! DM me if you want pitch at the event. We will give a preference to companies actively interviewing for 3+ open eng roles in October. Register directly if you're an engineer who wants to attend: https://lnkd.in/gtHsfXRU #LATechWeek

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Some good news for the Bay Area tech ecosystem on a Friday: According to Pitchbook: ⚡ tech layoffs are at a 2-year low. ⚡ fewer tech employees being laid off now than in any quarter since Q2 2022 ⚡ overall, the outlook for startups has improved While the IPO window remains shut we are optimistic about this changing in 2025. Lets celebrate this positivity and continue supporting the vibrant tech community. Link to the full article is in the comments. #startup #sfrecruiter #jobmarket

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One of the most legendary VC investments ever: Facebook’s 2005 Series A, was made via Accel’s Fund IX which had downsized after the dot-com bust. Funds raised during tough times often outperform. The state of small and mid-sized venture funds in 2024. Hard? Yes. Hopeless? Not entirely. Here’s the current state of affairs:  > Just 118 small and midsized U.S. startup investors have raised new funds under $500 million so far this year, according to Crunchbase. > A total of $13.7 billion has been raised for sub-$500M funds. Less capital. Fewer rounds. Many small funds have been battered in the post ZIRP era. And the AI boom is widening the gap between big and small funds. Large funds dominate, average round sizes are growing, and deep pockets are winning. IMO this isn't great for the VC economy. It's always been a power-law driven asset class but looking at Jamin Ball's recent blog which talks about the shift in incentive from performance fees to management fees, I think we need newer and smaller funds to keep the market competitive and innovative. Smaller and first-time funds are still in the mix: > Beta Boom: $14.5M inaugural fund > JFFVentures: $15M toward its latest fund > Connexa Capital: Over $20M for a debut fund > Create Health Ventures: $21M first fund But we need more new entrants keeping the big players honest. Tough markets don’t just create great companies; they create great opportunities for investors. As Baron Rothschild famously said, “The best time to buy is when there’s blood in the streets.”

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118 VCs (one hundred eighteen!) are gathering in San Diego next week - to meet with 30 SD startups. But it's so MUCH bigger than just those 30 co's. It brings VCs back - when they see quality companies. It helps those who are next-in-line and adjacent. It enables us to send deal flow all year 'round. It attracts talent and other companies. It inspires entrepreneurship. Connect is working for SD. Together, we're building the best damn innovation ecosystem on the planet. Year over year. Five.Ten.Thirty.

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BRAND NEW CLIENT - Director of Strategic Accounts - AI-Powered InsurTech - $350k+ OTE - Series A Equity - Stellar Funding - Leaders Come From Facebook, Amazon, Google, Uber Apply for this job, and review all RevsUp opportunities, here: https://lnkd.in/gdySgbB Our staffing agency represents a privately-held AI-powered insurance underwriting SaaS company backed by two VC firms with a combined 33 exits – IA Ventures and Inspired Capital. This 35-employee, Series A firm ($16 million in funding), whose co-founders helped build a startup that was sold to Mastercard for $600 million, is seeking a Director, Strategic Accounts to sell $100k to $1 million+ ACV software deals to C-Level and underwriting leadership at between eight (8) and 10 very large insurance carriers. * Aggressive bonus structure; stock options that include reloading for top performers; 100% coverage of medical and dental insurance premiums; 401(k) with 3% company contribution. Equity: 0.15% to 0.35%. * You have 10+ years of experience selling evangelical SaaS solutions for a startup or emerging company; 90% of the time, our platform replaces makeshift or homegrown solutions. Your named account list will include key existing accounts and targeted net-new accounts. * You’re at the top of our list if you’ve sold complex SaaS solutions to insurance carriers and MGAs (not local insurance offices or brokers). * Our four largest customers are each investing $1 million+ annually in the platform and are delighted with their return on investment. * 4.9 Glassdoor; 100% Approve CEO; 100% Recommend to Friend. * One current employee comments: “Extremely talented people; a true meritocracy; a culture unlike any other.” * The company holds employee offsites every year in locations such as Buenos Aires, Rome, and Playa Del Carmen, with an upcoming offsite in Lisbon.

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