We believe higher multiples
for later stage companies can be attributed to their ability to generate revenues earlier in life.
While we typically invest 65 - 75 % of our funds of funds portfolios in early stage venture capital, we inevitably have exposure to the public markets through venture - backed companies that have gone public and
late stage companies which are marked to public comparables by our underlying fund managers.
Example: «buying posters» = buying shares in
super late stage companies (sometimes on secondary markets) in order to put the logo on the VC's website.
Our team has been involved in virtually every phase of corporate finance at every stage of a company's life cycle, including raising venture capital for early stage companies, raising growth capital
for later stage companies, taking companies public, managing secondary offerings, and arranging mergers, acquisitions, divestitures, recapitalizations, and leveraged acquisitions.
Late stage companies have typically demonstrated viability as a going concern and generally have a well - known product with a strong market presence.
In addition to making direct investments, our institutional investors may also have the option to co-invest alongside MicroVentures in specific investment opportunities in early and
late stage companies.
Investments made early in a company's lifecycle typically require a long holding period and can be riskier relative to
a late stage companies.
Late stage companies have generally reached a point of positive cash flow generation and begin to experiment with expanding into tangential markets.
Offering both Regulation D 506 and Regulation Crowdfunding investment opportunities, which in the past have ranged from seed stage to
later stage companies.