This Week in Startups

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

11 snips
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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