Sequoia Capital Market Presentation Deck
CHANGES IN FINANCING ENVIRONMENT
FORTUNE
Venture firms brace for cash crunch
Big investors turn away from VCs as the financial crisis takes its toll.
By Michael V. Copeland
"If you are a venture capitalist looking for a new limited partner, don't stop in here.
Don't try and sell me on a new fund, and good luck trying with everyone else.'
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"If you're a second or third-tier venture firm trying to raise another fund, forget about it.
"It will start first in private equity funds where there will be a substantial miss on capital
calls. Then we'll see it next in venture capital.'
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"If you are start-up that is not cash-flow positive you are in a tough spot right now. If you
haven't figured out your business model yet you are in trouble."
"It's going to be hard to get another round. You aren't going to get a second life this time."View entire presentation