2024 VC trends, portfolio construction, & more with Churchill's Raja Doddala | E1914

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Mar 14, 2024

Raja Doddala runs venture and growth at Churchill Asset Management, offering expert insights into the VC landscape. He discusses the fierce competition in pre-seed and seed rounds, highlighting shifts in funding dynamics. Doddala analyzes recent trends in exit values, which have plummeted from $800 billion to $68 billion, revealing implications for the market. He emphasizes the importance of smart portfolio construction and adaptability in early-stage investments, especially in light of evolving AI technologies.

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INSIGHT

Return to Normal

Pre-seed and seed deal values and counts are down from the peak of 2021-2022.
The market is reverting to a healthier pace, similar to pre-pandemic levels.

ANECDOTE

Loosey Goosey VC

Raja Doddala notes that the last 10 years in VC were marked by excessive spending and rapid fundraising.
Companies raised and spent aggressively, often without hitting significant milestones.

ADVICE

Pre-seed vs. Seed

Define pre-seed as having a proof of concept and maybe beta testers, but not necessarily paying customers.
At the seed stage, secure real paying customers and start tracking growth metrics like engagement.

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