A Conversation on Venture Capital Investing

The Yield

In this bonus episode of The Yield, Peter Kerr, CFA, Director of Product Marketing for Yieldstreet, is joined by John Wuestling and J.D. Hall from Greenspring Associates, a $13B venture capital firm, for a conversation around venture capital investing, current market opportunities and why companies are staying private for longer.

Please note: On September 20, 2021, StepStone Group Inc. (Nasdaq: STEP), completed its previously announced acquisition of Greenspring Associates.

Key Takeaways:

[1:19] Greenspring Associates — an overview and an announcement.

[3:30] The traditional life cycle of a venture capital investment company, from idea to IPO.

[6:27] How has venture capital investing changed in the last two decades?

[9:08] Why might a founder want to stay private longer?

[10:55] Unpacking the $60 billion secondary investment market.

[14:40] Opportunities that are available within previously launched funds.

[16:26] The pros and cons of the SPAC market.

[19:46] Greenspring’s competitive advantage starts with the power of its platform.

[24:40] The metrics that help with understanding valuation in terms of market capitalism.

[28:04] Market niche and investment specialization is not the main goal at Greenspring.

[33:25] Shifts that are happening in the venture capital market from the investor side.

[36:06] The truth about the unicorn of VC investing.

Mentioned in This Episode:

Yieldstreet