Seth Corder
@sethcorder
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MD at @ModerneVentures. Investing in early and growth stage B2B software companies
Chicago, IL
Joined February 2010
QQQ is a 5.6x MOIC for the 10 years from 6/30/15 - 6/30/25
Cambridge VC benchmarks are in for Q2’25. Let’s look at the 2015 VY (10 yrs): Median IRR is 13.1% / Top quartile DPI is 1.24x / Median DPI is 0.62x. Top 5% TVPI is 5.1x, and top quartile is 3x. Bottom quartile DPI is 0.24x🤯 Pick your partners wisely LPs!
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Some Fridays at Wrigley are more special than others. RIP Ryno
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The hard part about taking risks is well, sometimes they don’t work out.
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I've noticed a common trait amongst the most elite venture firms that stay elite: the most senior partners continue to play the ground game. They do their own research, source companies directly, take prodigious notes, write memos, dive into data rooms. They continue to take
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Value investing in venture doesn’t work, but I’ve seen many try it unsuccessfully
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Introducing our new family of state-of-the-art AI models: Phoenix-3, Raven-0, and Sparrow-0. Together they bring Conversational Video Interfaces (CVI) to the next level, and power Charlie, our new demo persona 👋
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He's gotta be messing with us, right? When's the last time @Apple shipped something innovative?
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.@hellosmartsuite secured $38M to expand its platform for team collaboration, automation and data access. @highalpha, a StepStone platform manager, participated in the funding. More:
techcrunch.com
Three founders who built out one of the bigger startups in risk management are scaling a new company to take on another pain point in the world of work.
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Heard this from a few people this week
Been playing around with Deep Research this week. The output is 80% equivalent to asking an entry-level employee to research something for a week But it takes 8 minutes. And you have unlimited employees It’s the most impressive product experience I’ve had in…a decade?
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Yup! Unfortunately, many VCs can't help themselves and still feel inclined to give unwanted advice
May be controversial but.. The best early-stage founders just want VCs to help with customer + recruiting intros. They don't want advice. There are few things VCs will know more about than the founders at this stage. Fundraising yes - but often not the product, market, or GTM.
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lol what
OpenAI in talks for investment round valuing it up to $340 billion, WSJ reports
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Fascinating. Growth funds have a similar amount of investments return 10x and MORE fund returners than early stage funds. I would not have guessed that
But what about the other end of the power law curve? Early-stage funds saw 5.5% of companies return >10x and 1.0% return 100%+ of the fund that backed them. For growth, 5.3% were > 10x and 1.6% returned the fund. This was surprising. /3
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The 2024 SaaS Benchmarks Report, created by @highalpha in partnership with @OpenViewVenture and presenting partner @PaddleHQ, is now live. There are a ton of great data points in the report, but one thing is clear: AI is reshaping the SaaS landscape, but monetization strategies
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Spot on
When you wake up too early and need to write down that thought. I'm convinced that VCs make all their alpha on the buy. Sourcing, Selection, and Selling into the right investments are all that matters.
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Had a fantastic time speaking at the @Forbes #Under30Summit about the current investment landscape and emerging trends. It was inspiring to connect with so many driven young entrepreneurs — the future is bright!
"I bet 1/2 to 3/4 of the companies I see pitching anymore is what I would call an AI first company." Seth Corder, partner at @highalpha, spoke about raising cash in today’s economy and current trends at the 2024 #Under30Summit in Cincinnati. https://t.co/M6ou4tzri2
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