Nagraj Kashyap’s Post

As successful exits like IPOs and large-scale mergers are becoming increasingly rare in the current #VentureCapital landscape, Touring Capital is taking a bold approach. With IPO timelines potentially stretching up to 15 years and regulatory barriers making billion-dollar exits harder to achieve, our focus has shifted to smaller, less dilutive #SeriesB rounds to offer startups a more sustainable path to growth. In Steve Rosenbush’s latest The Wall Street Journal article, our general partner, Nagraj Kashyap, emphasizes the impact of building relationships with founders early on and why we advise them to take smaller, more strategic funding rounds. By doing so, founders can retain more equity while preserving optionality for both M&A exits along the way or that long-term IPO exit with substantial returns. Touring Capital is reimagining traditional venture math and providing a solution to ensure founders and startups continue to grow and succeed long-term. To learn more about our model and vision for founders: https://lnkd.in/ec-kC4Tz 

Is Venture Math Broken? Yes, but in more ways than one. The Wall Street Journal's Steve Rosenbush highlights mega-IPOs as a primary exit strategy and features Touring Capital, a new VC firm encouraging founders to raise more modest Series B rounds to reduce dilution, thus making smaller exits more appealing. In my view, companies considering a Series B should also seriously evaluate strategic acquisition as an alternate strategy. The benefits of integrating into a larger platform with an established go-to-market engine often outweigh the challenges of raising $50-100M and attempting to scale enterprise sales independently. For early-stage startups that have solved the product puzzle but haven’t yet built out a go-to-market motion, partnering with a larger strategic can be a compelling path. While valuations may seem modest compared to initial ambitions, these acquisitions often deliver the most optimal and realistic outcomes for founders, teams, and investors alike. #InfraRead

Hey LinkedIn community! 👋 This week’s Venture Capital Term of the Week is “Exit Strategy”! So, what exactly is an “Exit Strategy” in the world of venture capital? 🤔 It’s the plan that an investor or founder sets in place for how and when they’ll sell their ownership stake in a company to realize a return on investment. 🚪💼 Common exit strategies include Initial Public Offerings (IPOs), mergers and acquisitions, or selling the business to another investor. Having a clear exit strategy helps investors assess potential returns and startups ensure alignment with their long-term growth goals. For investors, timing and method of the exit are crucial in maximizing the value of their investment. What are your thoughts on the importance of planning an exit strategy early in the startup lifecycle? Let’s discuss in the comments below! 💡🚀 #VentureCapital #ExitStrategy #StartupFunding #IPO #InvestmentReturns #Growth

The vast majority of our value has historically come from the public markets; we’ve had around 30 IPOs in the last 11 years,” said Jacobson. “That’s changing. We haven’t had a new company go public since 2021.” Jacobson said Iconiq would instead take advantage of “new sources of activity”. Those include a growing number of mergers and acquisitions driven by strategic investors. Another is a jump in the trade of start-up stock on the secondary market, where venture investors exchange their existing stakes in companies

How can Houston startups take advantage of a microwindow in the IPO market? In a byline published in Houston InnovationMap, Deloitte’s Will Braeutigam and Laura Evans share their insights on how to prepare when considering an IPO. Read it here!

VC: Startup IPOs? What's NEXT? ft Vanessa Larco from New Enterprise Associates (NEA) Explore the unpredictable world of venture capital exits! This video analyzes the fluctuating IPO market, the scarcity of M&A activity, and the crucial role of a viable exit strategy in securing investments. Learn how investors assess a company's IPO potential. #VentureCapital #IPOs #Investing #Fintech

How can Houston startups take advantage of a microwindow in the IPO market? In a byline published in Houston InnovationMap, Deloitte’s Will Braeutigam and Laura Evans share their insights on how to prepare when considering an IPO. Read it here!

How can Houston startups take advantage of a microwindow in the IPO market? In a byline published in Houston InnovationMap, Deloitte’s Will Braeutigam and Laura Evans share their insights on how to prepare when considering an IPO. Read it here!