The Data Minute

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) is joined by David Willbrand (Chief Legal Officer, Pacaso) for a wide-ranging conversation on fundraising with SAFEs, liquidation preferences, and the relationship between founders and lawyers. What started as a discussion on the technical aspects of raising a SAFE, late-stage liquidation outcomes, and other fundraising topics turned into an examination of the founder/lawyer relationship with one of the world’s top experts on the subject. It’s a unique look at a partnership that you don’t want to miss. Subscribe to Carta’s weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta’s Data Desk: https://carta.com/data-desk/Chapters:00:16 Intro02:01 Are SAFEs properly understood?07:41 What should founders know before a priced round?13:30 Valuation caps and discounts20:30 How much should liquidation preferences matter?32:02 Exploring the value of counsel to founders41:41 The shifting perception on founder secondaries 47:09 OutroThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2024 eShares, Inc., dba Carta, Inc. All rights reserved.

Charles Hudson, Founder and Managing Partner at Precursor Ventures, discusses the evolving landscape of pre-seed investing. He delves into the distinct challenges faced by small funds in an AI-driven market and the necessity for new strategies that distinguish them from multi-stage firms. Hudson provides insights into SAFEs, the impact of policy on venture capital, and how shifting dynamics in Washington influence emerging managers. He also emphasizes the importance of transparency in fundraising and building strong relationships between founders and investors.

Waseem Daher, Co-founder and CEO of Pilot, brings insights from the trenches of early-stage startups. He discusses the delicate balance founders face when setting their salaries amidst investor pressures. The conversation dives into the impact of economic changes on founder compensation, especially across different regions and sectors, including the AI landscape. Waseem also tackles essential metrics like burn rate and runway, while emphasizing the emotional challenges of financial austerity and the importance of clear storytelling to attract venture capital.

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) is joined by Kate Shillo Beardsley (Founding Partner, Hannah Grey) for a wide-ranging conversation on VC, private equity, investor trends, and the chasm between seed stage startups and those that make it to series.This jam-packed conversation also includes a debate on priced rounds versus SAFEs, the importance of a founder’s DNA over where they are located, and, of course, AI.Subscribe to Carta’s weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta’s Data Desk: https://carta.com/data-desk/Chapters:00:00 Welcome03:29 Intro to Hannah Grey04:44 How are a VC or thesis and a sector different?07:02 Discovering and identifying trends10:11 Leading vs. following in investing15:25 Priced rounds, SAFEs, and leverage21:22 Developing an AI thesis 25:42 The Series A Chasm32:10 Is it easier to build a business today with less cash?34:47 Difference in founder mindset by geography37:16 The thesis Kate is most excited about right now39:26 Most unique way a fund has brought value to a portco42:22 The number one question founders should ask during fundraising 45:28 When does venture stop being positive?This presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2024 eShares, Inc., dba Carta, Inc. All rights reserved.

The podcast discusses the current state of pre-seed funding in the market, the use of SAFEs and convertible notes, understanding valuation caps, and choosing the right instruments for fundraising. It provides insights from the State of Pre-Seed: Q1 2024 report and offers advice to pre-seed founders on building their cap table and fundraising with SAFEs through Carta Launch.

In this week’s episode of The Data Minute, Peter Walker (Head of Insights at Carta) sits down with Darcy Casarella (Director of Talent, NEA) for a wide-ranging discussion all about how founders should think about compensation and how to structure teams.Hiring at startups is down and compensation trends are shifting, so it's a perfect time to talk to an expert that advises many startup founders at New Enterprise Associates.Subscribe to Carta’s weekly Data Minute newsletter: https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta’s Data Desk: https://carta.com/data-desk/Chapters:00:00 Intro1:50 The role of a talent team at a VC fund9:14 When do most people bring in an in-house recruiter? 11:35 Chart: Q1 hiring16:25 Is there a difference in the kinds of people that are being hired more frequently? Fractional execs19:50 Compensation for fractional execs23:47 Is fractional better suited for certain functions over others?25:48 Do startups promote well?29:37 Why is it so much easier for equity comp to change than salary comp?34:22 Salary vs. equity comp at the exec levelThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2024 eShares, Inc., dba Carta, Inc. All rights reserved.

In this week’s episode of The Data Minute, Peter Walker (Head of Insights at Carta) sits down with Darren Cooke (Executive Director, Berkeley Life Sciences Entrepreneurship Center) for an enlightening discussion about some emerging trends with biotech companies: Namely, while pharma and biotech currently rank as the 5th most-funded type of pre-seed startups, they simultaneously enjoy favorable valuations to other SaaS-type businesses.This leads Peter and Darren into a conversation about biotech, the challenges and differences for biotech founders when raising seed capital, and of course, Darren’s history and experience leading Berkeley’s accelerator program, SkyDeck — one of the most celebrated accelerators in the startup world.Subscribe to Carta’s weekly Data Minute newsletter:https://carta.com/subscribe/data-newsletter-sign-up/Explore interactive startup and VC data, with Carta’s Data Desk:https://carta.com/data-desk/Chapters:00:00 Intro00:44 Darren Cooke, Berkeley Life Sciences Entrepreneurship Center02:05 Berkeley SkyDeck04:39 The pre-seed experience for biotech companies08:22 Regulation, reimbursement, and outside funding10:29 Round sizes in the biotech industry12:27 Investor interest in biotech16:42 The five stakeholders biotech companies need to know21:15 Pre-seed fundraising and priced rounds23:27 Demo day25:52 Words of adviceThis presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2024 eShares, Inc., dba Carta, Inc. All rights reserved.

Mendel Chuang from Acquired Wisdom Fund discusses changing valuation caps and raise amounts in seed rounds. The conversation covers founder updates, pre-seed VC mentality, and the importance of founder networks. Insights on trends in fundraising, AI impact, and advice for navigating the pre-seed VC market are shared.

Explore startup compensation trends in 2023 with insights on hiring, layoffs, salary trends, equity compensation, and the state of remote work at U.S. startups. Dive into data from Carta's State of Compensation Report for a comprehensive look at the current landscape.

Marissa Bertorelli from Polaris Partners discusses the impact of the pandemic on healthtech investing, the surge in AI in healthcare, challenges for early-stage healthtech startups, pitching to specialized investors, the need for cofounders, and differences in healthtech and SaaS founder experiences.