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PUBLIC VIEWPOINTS

Jason Lemkin

1 sources · 3 viewpoints · 3 topics

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Jason Lemkin on acquisition strategy, seed fund sizing, venture fund strategy. Explore 3 viewpoints by topic, with evidence from 1 source.

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Attributed viewpoints, ordered by source publication date. A snapshot of these conversations, not a definitive statement of someone’s beliefs.

Translations are for reading; original excerpts remain the evidence.

acquisition strategy

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acquisition strategy

Jason’s argument that acquirers buy time

The article presents Jason’s argument that acquirers buy time, not only revenue or customers, allowing A-minus and B-plus companies to find buyers.

Supporting evidence

Jason Lemkin·

20VC x SaaStr: Anthropic’s S-1 Leaks, Instinct Hits $10 Billion in 33 Days, AMD Buys World Labs, and Meta Poaches MongoDB’s CEO

Original excerpt

Jason’s general point: acquirers buy time, not just revenue or customers. That’s essential for venture to work, because it’s the only way A-minus and B-plus assets get bought. Rory flagged the board drama: the founder had stepped back, a hired CEO turned the business around, then the chairman replaced him and investors pushed back. The UK-style non-exec chairman model makes sense for mature public companies and none for venture-backed ones. When you have that much instability and someone offers to buy you, you hit the bid.
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Jason Lemkin
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venture fund strategy

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venture fund strategy

Bessemer raised $5.75B, including a $1.75B seed fund; NFX shifted to GP-capital-only

Jason Lemkin reports Bessemer raised $5.75 billion (including a $1.75 billion seed fund), while NFX adopted the opposite strategy — investing only GP capital and taking no new LP money.

Supporting evidence

Jason Lemkin·

20VC x SaaStr: Anthropic’s S-1 Leaks, Instinct Hits $10 Billion in 33 Days, AMD Buys World Labs, and Meta Poaches MongoDB’s CEO

Original excerpt

Bessemer raised $5.75 billion, including a $1.75 billion seed fund. NFX went the opposite direction, investing only GP capital and taking no new LP money.
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seed fund sizing

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seed fund sizing

How larger seed rounds change Jason’s assessment of fund size

The article reports Jason’s view that, if a seed round is now $30 million, a $1.75 billion seed fund with reserves is not large; in that context, even $1 billion is beginning to sound small.

Supporting evidence

Jason Lemkin·

20VC x SaaStr: Anthropic’s S-1 Leaks, Instinct Hits $10 Billion in 33 Days, AMD Buys World Labs, and Meta Poaches MongoDB’s CEO

Original excerpt

Jason’s read on Bessemer: it’s the same lesson Benchmark learned. Bessemer’s growth team scaled up and won. And if a seed round is now $30 million, a $1.75 billion seed fund with reserves isn’t large. Even $1 billion starts to sound small.
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Statements by source date1

Statements are ordered by the original source publication date; differences in wording do not establish a change of position.