Category: Investment & Business Models
Berkshire Hathaway: If You Love the Management, Set Them Free
Private equity investors often take the “father knows best” approach to working with their management teams. To me, this is crazy — particularly when the management team has years of experience with the business, the investors are new to the business, and the track record… Continue reading
We’re In Seed-Stage Boom, Not a Series A Crunch
Two related trends in venture capital investing have been getting attention for the last few years. The first is the growth in angel investing, particularly after the crowd-funding provisions of the JOBS Act. The second is the “Series A crunch” where many companies that receive… Continue reading
Evergreen venture fund structure offers new strategy
Heartening to read a blog at Axial about the Evergreen Venture Fund Structure that we use at my Greybull Stewardship: http://www.axial.net/blog/evergreen-fund-structure/ Thanks to Billy Fink and his M&A blog, I’m excited to have the conversation about how the traditional fund protocols are changing with new… Continue reading
New $20 Million Investment Fund Looking for Profitable, Fast-growing Businesses
Greybull Stewardship, L.P., an investment fund, completed in January 2014 its $20 million round two capital commitments. Since the fund’s January 2010 inception, annual returns have realized 23 percent after fees. As a result, existing Limited Partners (LPs) increased their commitments and new LPs were… Continue reading
Align Your “Loss Ratio” Expectations with Your Investors
In early stage venture capital, the best investors expect that 40% of their investments will become worthless. Thus, they focus on companies that could be worth billions because the winners have to make up for all their losses. They want every company to shoot for… Continue reading
Ideal business financing for growing, profitable companies in 100 posts or less?
“Teach what you want to learn” is the theme with which I started this blog in April 2012. Since then, I have written 100 posts — which means I’ve learned for myself and shared what I’ve learned under several themes: Business financing and venture capital… Continue reading
Best Financing Source for a Business: Its Customers
Financing growth for your business with cash from customers, rather than more expensive debt or equity, makes your ownership even more powerful. In most of the investments made into operating companies by Greybull Stewardship, my investment fund, our operating companies get paid by customers before… Continue reading
Accounting & Reporting Pays Off
Accounting should not drive anything about a company, but accounting also should not be forgotten at the side of the road. Many companies choose, correctly, not to focus much attention on proper accounting and reporting — until they first have a real, sustainable business. Later,… Continue reading
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