2026-02-18
I'm sure the LPs are happy, and this is why VC as an asset class exists for most LPs, upside skew. If I want a 15% net IRR, I can get that in a much better risk adjusted vehicle than a $5b+ VC fund that will take 15+ years to liquidate. Congrats to Benchmark, the model works!
The Information
Benchmark hires Jack Altman, the founder of Alt Capital and Lattice, as its fifth general partner; three Alt Capital team members will join him at Benchmark
Benchmark on Tuesday said it had hired Jack Altman, the founder of early-stage firm Alt Capital and HR software company Lattice, as its fifth general partner.
I'm sure the LPs are happy, and this is why VC as an asset class exists for most LPs, upside skew. If I want a 15% net IRR, I can get that in a much better risk adjusted vehicle than a $5b+ VC fund that will take 15+ years to liquidate. Congrats to Benchmark, the model works!
Bloomberg
Source: Benchmark's 2020 fund is now worth 10x+ and 2024 fund is 3x what investors put in, based on cash distributions and the paper value of its investments
Natasha Mascarenhas /Bloomberg:
2023-12-20
Is it me or does having WMT business for BNPL most likely a negative as you're getting a certain type of consumer with quite high delinquency rates. This has happened with WMT and credit firms before, they kill you on fees and you get bad credit consumers
Bloomberg
Walmart expands its Affirm partnership and says more than 4,500 Walmart stores now offer BNPL options at self-checkout kiosks; AFRM jumps 15%+
2023-12-06
@pitdesi Numerous things could've triggered it (all spelled out in the LPA). Possible Key Person clause in which usually majority of LPs or LPAC vote on if the investment period ends or continues. No clue on my end though.
The Information
Source: VC firm OpenView laid off most of its staff and does not plan to make new investments, after several partners recently left the firm
OpenView Venture Partners is a VC firm which raised $2.4 billion and is now shutting down because they don't think they can generate returns for their LPs. … X: @saranormous : Dram...
2023-03-04
Huge news and great for the VC industry. https://twitter.com/...
Axios