Playing defense

Before I knew summer was here, we’re already in August. Time is flying fast and I’m getting a bit of anxiety that I haven’t accomplished more in Q3 already. Thus is the life at a startup.

As we head into August, there’s a lot of cautious optimism. The secondary markets are opening up a bit more and prices are going up, slowly but surely. There are more buyers on the table.

VC funding is still down overall, but we’re starting to see a bit of life. It appears that most VCs are playing defense right now. Most deals are being done in quiet inside rounds to keep companies afloat.

Unfortunately a lot won’t be able to make it through and I think we’ll start to see more bad news break through Labor Day. Lots of investors are trying to get ahead of the upcoming pain. Many LPs haven’t been happy with fund performance and will continue to be disgruntled as more bad news hits the ticker.

I’m in full heads down grind mode right now. There’s a lot of great opportunities for us ahead at Secfi and I’m excited to close out the summer and close out the year strong.