I am surprised not to have published this before. It was one of my first work before I even wrote my book. It became its chapter 4. Venture capital is about 50 years old and it has changed a lot in parallel to innovation and high-tech. I hope you will enjoy these very visual slides!
brilliant, the next question would be looking at the future : is the VC model still viable for early stage, considering the fund sizes, the delay in returns, … ?
You are right. It’s clear this world is changing and let us not forget VC was really structured in the mid 70s; it is a young industry. After the mega-funds of the late 90s, we are back to the $100-300M funds. Super angels as well as many VC funds still do early stage (series A) such as KP, Sequoia in the USA or Index in Europe. But it could be that high-tech innovation has reached a level of maturity which also explains the difficulties of the VC world.
Excellent slides! Thank you very much for the sharing!