To some traders, “down round” is a unclean phrase, however to not Notable Capital’s Hans Tung. Hans is a managing associate at Notable Capital, previously GGV Capital, a enterprise agency specializing in investments within the U.S., Latin America, Israel, and Europe.
Hans, whose portfolio consists of the likes of Airbnb, StockX and Slack, sat down with TechCrunch’s Fairness podcast to debate the general state of enterprise and why he nonetheless believes down rounds could make a number of sense. Per Hans, “An IPO is actually just a milestone, not the end game. An IPO is the beginning of public investors being along for the ride. So when you think in longer-term valuations, up or down temporarily doesn’t matter as much as generating a big outcome at the end.” It’s price noting that by September 2023, practically 11% of the yr’s VC offers have been down rounds, based on PitchBook knowledge.
Hans additionally tell us why he’s nonetheless bullish on fintech, and what sectors within the fintech house have him particularly psyched.
In fact, we dug into current adjustments at his personal agency, which developed from 24-year-old cross-border agency GGV Capital and rebranded its U.S. and Asia operations to Notable Capital and Granite Asia, respectively. GGV’s transformation is the newest in a string of adjustments we’ve seen on the earth of enterprise capital, together with personnel adjustments at Founders Fund, Benchmark and Thrive Capital.
Hit play to listen to what Hans has to say on these subjects and extra! Fairness shall be again on Monday. See you then!
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