The IRR on a $5 Million Fund Is Unreal

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A 6.7 million investment turned into four billion dollars in a little over 18 months less than two years The IRR on that is unreal this alone 47 X's their fund. They can't distribute By the time the lock up expires the next spring in 1989 that stake is worth over four billion dollars On an $5 million fund a6.7 million Investment turned into fourbillion dollars in alittle over 18 monthsLess than two years Now remember back to the premium carry Oh boy 30% Remember eBay had obviously a drop but not like a drop to zero or anything So depending on when they got out of certain things at the point that e-boys was published That mark on this fund was 92

Benchmark Capital. We tell the tale of the legendary equal partnership that accomplished something no other venture firm can claim: twice it has produced the highest returning fund of its cycle, each time with a 100% different GP lineup. If ever there were a playbook for successful generational transfer of a generational-defining venture firm, this is it. We spend 3.5+ hours digging into how the dotcom “eBay eBoys” transformed into the rockstar Fab Four of the Uber, Instagram and Snap mobile gold rush (spoiler: not by a straight line!), and what the future holds for Benchmark’s next GP generation. If you’re a student of the venture game from any angle — founder, GP, LP, etc — this is a story you need to tune in for!

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