📶 LPs put succession plans in the spotlight

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Good morning 👋

And happy hump day.

I just read somewhere that 42% of all newly minted unicorns were AI startups.

In case you needed another stat to suggest we’re in a bubble …

Let catch you up on what else happened yesterday.

TL;DR:

• 📰 News

• 🔗 Links

• 🐥 Tweet

• 💰 Funds

• ™️ Startups

• 📶 Recs

• 🗳 Poll

HEADLINES
LPs advice to GPs: find a successor ⏭

• LPs are placing more importance on GP succession plans (Venture Capital Journal)

• What happens if Middle Eastern VC money stops flowing? (Pitchbook)

• Former Citi, Battery VC has new $378M fund that helps startups land Prudential, Mutual of Omaha, others as investors and customers (TechCrunch)

• AI startup Codeium notches $1.25B valuation in race to automate coding (Pitchbook)

• NEA quietly reenters the secondaries market (TechCrunch)

• The IPO Market Will End 2024 On A Low Note (Crunchbase)

LINKS

🏃‍♂️‍➡️ A Simple Exercise to Take Back Time to Focus on What Matters: Peter Yang teaches how to eliminate, simplify, automate, delegate, and own—-in that order

⚖️ Automating Founder Reach Out: Study suggests investors looking for leverage AI in founder outreach should balance need between automation and human touch

🤐 The Controversial Startup Truth: The harsh realities no one talks about

🛟 Uncomfortably Safe: In a world that increasingly prioritizes comfort, it’s important to remember that choosing to be comfortable all the time also has consequences

🔥 Airbnb’s Vlad Loktev on Embracing Chaos, Inquiry Over Advocacy, Poking the Bear, and “Impact, “Impact, Impact”: Why chaos in good, learning to poke the bear and why it’s ok to let some fires burn

✊ How Steve Jobs Raised His First Funding: He kept on knocking…

👀 Spotlight Stealth, Early & Growth Startups: Data-Driven VC shares their top picks

🧭 Confluence.VC Navigator: Our internal navigator tool to help readers find what they’re looking for

TWEET

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FUNDS

Explore all new funds (along with contact info) 👉 here.

STARTUPS (Together with Harmonic)
US-based AI seed companies that raised in the past week 🔎

We use Harmonic to get hundreds thousands of data points on companies like these.

Book a demo with their team to see how you can do the same.

RECS

POLL

Thanks for reading this far and giving us a little bit of your attention this week.

Feel free to unsubscribe whenever this stops becoming valuable to you.

- Clay

RESULTS

Here are the results from our poll question in yesterday’s piece:

Do you think OpenAI is overvalued or undervalued at $100b?

🟨🟨🟨🟨⬜️⬜️ 🔝 Overvalued - that's WAY too expensive (10)

🟩🟩🟩🟩🟩🟩 ✨ Undervalued - we'll look back at this as a steal (15)

🟨🟨🟨🟨⬜️⬜️ 🤷‍♂️ I have no idea - need more data (12)

37 Votes