VNTR Capital News Nov 12, 2023 – News, Events, VC Reads
Venture Capital, Web3, and Private Equity – Nov 12 News, Events, and VC Reads
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VNTR CAPITAL COMMUNITY NEWS
Spotlight
VNTR LITE – The VNTR Capital community is an inclusive community of Venture Capital investment decision makers, meaning that any qualified investors can create their complimentary account on the VNTR Platform and start collaborating with our global community: attend events, participate in deals, provide peer support and enjoy partner offers.
VNTR PRO – VNTR PRO membership, launched in March 2023, offers our valued members an exclusive array of premium services. Since its inception, we have dedicated ourselves to cultivating a strong foundation for our founding cohort, and we extend our heartfelt gratitude to our early adopters for their invaluable support in refining the VNTR PRO membership experience.
As we approach the end of this formative stage, the founding cohort will officially close its doors on December 31, 2023, marking a pivotal moment in our journey. We will also adjust the annual subscription price to $3,000/year starting the new year.
However, we still have 20 spots available within the founding cohort, and for those who seize this opportunity, the subscription prices will remain locked in at the current rate. We aim to ensure that our premium subscribers continue to receive the highest level of service, and as such, we will be enrolling new VNTR PRO members in small, carefully curated cohorts starting in January.
If you wish to be part of our founding cohort and take advantage of this limited-time offer, or if you are ready to elevate your membership to VNTR PRO, please do not hesitate to Contact us. Your journey towards premium experiences with VNTR PRO awaits!VNTR GP LP Summit — We're excited to announce that we are preparing to host our inaugural VNTR GP LP Summit in Spring 2024. The Summit will bring together General Partners (GPs) and Limited Partners (LPs) from our global community, providing a unique platform for insightful sessions, fostering connections, and catalyzing relationships to deploy capital into VC Funds in the VNTR community effectively. The Summit will be integral to our new premium VNTR GP and VNTR LP subscription services, offered annually, to facilitate seamless interactions between GPs and LPs. The date will be announced soon, but it will take place in April 2024, and the location is Lisbon, Portugal. Additional VNTR GP LP Summits will occur in the Hamptons in June 2024 and in Singapore in October 2024. Contact us to secure your place at the VNTR GP LP summits. Join the VNTR Platform to create your GP or LP accounts.
Corporate Sponsorship — We are preparing our 2024 schedule with 100+ events across 20+ chapters globally. We are looking to partner with corporations interested in leveraging VNTR events, newsletters, and the VNTR platform to connect with investors and premium clientele in 2024. Apply or reply to discuss annual packages.
Join us at upcoming Flagship VNTR Events:
We are recruiting Chapter Directors in Riyadh, Berlin, Cape Town, and Los Angeles to grow the VNTR Capital community. Chapter Directors serve as super connectors to the global Venture Capital community. Interested candidates can apply here.
Upcoming
Lisbon — Join us on Nov 14 at VNTR Investors Roundtable in Lisbon, our flagship event in Portugal.
Singapore — VNTR Singapore Chapter will host the VNTR Roundtable Singapore on Nov 16 to connect investors visiting the Singapore FinTech Festival.
London — We are hosting our next VNTR Investors Dinner on Nov 21 to host our visiting VNTR PRO member, Victor Baron, to connect to our VNTR PRO members in London.
Melbourne — We rescheduled our first VNTR Investors Roundtable in Australia to Nov 23.
Bali — Our VNTR Bali Chapter will gather for an engaging VNTR Investors Dinner on Nov 23 in partnership with Internet Computer and Distruptives accelerator to hear the pitches of top graduates.
Abu Dhabi — We will be hosting our first events in Abu Dhabi at the end of November:
VNTR Monthly Speed Networking — Join our members' speed networking event on Nov 29, where VNTR members get matched for 5-7 min introduction calls online. Participants could meet 10-15 other VNTR members from around the globe.
Thank you to our Partners:
Cuatrecasas is an international law firm firmly established in Spain, Portugal and Latin America, where it has offices in Chile, Colombia, Mexico and Peru. With a multidisciplinary and diverse team of over 1,600 professionals from 24 nationalities, we cover all areas of business law with a sectoral approach, focusing on all types of business. Cuatrecasas has 27 offices in 13 countries and collaborates closely with leading law firms in other countries to offer a team to meet every client's needs in every scenario.
Startup Lisboa supports the creation of companies and their first years of activity. Founded in 2012 it's a private non-profit association that provides entrepreneurs with office space as well as a support structure - mentoring, strategic partnerships and perks, access to investment, networking activities and a community based on knowledge and sharing.
aelf Ventures is the global investment arm of aelf, and it is vertical and stage-agnostic. Aligned with its vision of a highly efficient and interoperable future, aelf Ventures invests in and supports the most promising teams bridging Web2 to Web3, as well as innovative blockchain projects within both the aelf and multichain ecosystems. In 2023, aelf Ventures successfully closed the aelf Ecosystem Fund l at US$50 million and is embarking on both strategic and financial investments in promising blockchain startups and established crypto enterprises. Through aelf Ventures, aelf reaffirms its commitment to creating a ubiquitous blockchain future.
Ballers is a web3 gaming studio & engagement venture. We are thrilled to extend an exclusive invitation to you for the Ballers Yacht Party, a 3-day extravaganza from Nov 24 to Nov 26, right in front of the F1 Grand Prix track (Yas Island), Abu Dhabi. Get ready for:
VIP View of F1 Races: Immerse yourself in the heart of the action with a VIP viewing of all the exhilarating F1 races.
Unlimited Exquisite Delights: Indulge in a culinary journey with unlimited, delectable food curated to tantalize your taste buds.
Sip in Style: Enjoy unlimited premium beverages, including exclusive champagne and bespoke culinary concoctions.
Network with High-Net-Worth Individuals: Elevate your connections and engage in meaningful conversations with a curated guest list of high-net-worth individuals.
Ballers Night Party: As the sun sets, the party comes alive at the Ballers Luxe Yacht! Party Baller-Style with the beats of live DJs and Top models of the town.
Become a member of “Ballers Club” where fun, excitement, luxury, and endless party never stops!
Contact us to join the 3 days of hospitality experience.
VNTR Capital Events:
Dec 1 VNTR Investors Roundtable Helsinki (SLUSH side event)
Dec 5 VNTR Investors Roundtable Berlin (Next Block Expo side event)
Dec 7 VNTR Investors Roundtable Bangalore (India Blockchain Week side event)
Dec 8 VNTR Investors Roundtable Miami (Art Basel Miami side event)
Jan 17 Venture Capital Investors Roundtable Davos (World Economic Forum 2024 side event)
RSVP to Upcoming VNTR Capital Events
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UPCOMING VC EVENTS
Nov 12-22 Portugal Tech Week, Lisbon, Portugal
Nov 13 Europas, Lisbon, Portugal (Complimentary Investor Passes for VNTR Members)
Nov 13-17 AIBC Europe, Malta
Nov 14-16 SALT iConnections Asia, Singapore
Nov 15-17 SFF2023 Investor Hours, Singapore
Nov 15-17 Singapore Fintech Festival, Singapore
Nov 17-19 Longevity Conference, Ark, Liberland
Nov 21 World Tokenization Summit, Dubai, UAE (Complimentary Investor Passes for VNTR Members)
Nov 22 SouthEast Asia Institutional Investor Forum, Singapore
Nov 27-30 Abu Dhabi Finance Week, UAE
Nov 30-Dec 1 SLUSH, Helsinki, Finland
Nov 30-Dec 1 TechEx Global, London, UK
Dec 4-5 Next Block Expo, Berlin, Germany
Dec 4-8 West Tech Fest, Perth, Australia
Dec 6-7 FinTech Connect, London, UK
Dec 8-10 Art Basel, Miami, USA
Dec 11-12 Global Blockchain Congress, Dubai, UAE
Dec 12-13 New England Venture Summit, Boston Dedham, MA, USA
Dec 21-22 Web3 Beyond Borders, Tokyo, Japan
Jan 9-12 CES, Las Vegas, USA
Jan 15-19 World Economic Forum Annual Meeting, Davos, Switzerland
Feb 26-29 Mobile World Congress, Barcelona, Spain
Feb 26-29 4YFN, Barcelona, Spain
Mar 26-27 Wow Summit, Hong Kong
April 8-12 Paris Blockchain Week, Paris, France
April 18-19 Token2049, Dubai, UAE
May 15-17 Gitex Africa, Morocco
May 29-31 Consensus, Austin, UAE
If you would like to submit VC-related events, please respond to this email or Telegram @byuric
Follow us on Social media: Instagram, LinkedIn, Facebook, Flickr, and Twitter.
Check out VNTR Capital upcoming events
VC Reads
View curated VC news and articles on the VNTR Platform
New pre-seed funds are popping up everywhere
Despite the doom and gloom felt lately in venture capital investments and returns, there seems to be quite a bit of movement in the pre-seed stage.
In the past month, for example, Catalyst Fund, ALIAVIA Ventures, Greylock, Garuda Ventures, The House Fund and Bee Partners all announced new funds to infuse pre-seed investments into startups. If you add all of that up, it’s over $220 million (that’s not including Greylock’s $1 billion) of potential capital flowing over the next few years. Like all the other stages, pre-seed deals have declined in number and value since 2021, according to PitchBook. At the end of the third quarter, just 788 deals were made globally, down from the 2,572 deals in 2022 and 2,650 investments made in 2021.
Even the Smartest VCs Sometimes Get it Wrong – Bill Gurley and Regulated Markets
Bill Gurley was one of Silicon Valley’s smartest and most successful VCs. He recently gave a talk at the All-In Summit that was really two talks in one. The first part was railing against the consequences of regulatory capture on innovation and a second part, about the consequences of premature government regulation of AI and why the incumbents are all for it. He illustrated his talk with regulatory horror stories in the telecom market, electronic health records, and Covid antigen tests.
Europe VC funds jump ahead of US counterparts over 12 months
US venture funds have historically outperformed European vehicles, but the downturn has reversed that trend—even as both are reporting negative returns.
Based on a PitchBook analysis of the internal rate of return (IRR) of 1,709 VC funds, US vehicles have performed better than their European counterparts across almost all time horizons until the past year.
But over the one-year horizon, US funds reported an IRR figure of -16.5% compared to -14.2% for Europe. European funds lost less, outperforming US funds.
Global Venture Capital Investment Falls Again
Global venture capital (VC) investment fell from $81.4 billion across 9,563 deals in Q2'23 to $77.05 billion across 7,435 deals in Q3'23, says KPMG's Private Enterprise recent report, while adding that VC investors continued to act cautiously, taking much longer to make deals than in recent quarters, intensifying their due diligence, business models and the paths to profitability of startups looking for investment. "Both total global investment and deal volume reflected multi-year lows; VC investment in Q3'23 was the lowest since Q3'16 while VC deal volume was the lowest since Q2'19," said the quarterly report titled Venture Pulse, highlighting VC investment trends globally and in key regions around the world.
The five virtues of VC
VCs have become something of a cultural punching bag in recent years and opinions like this certainly add to what is already a cutting polemic. But they are also only half the story. The market is tough right now and, as a result, anxious entrepreneurs are looking for a villain to direct their frustrations towards. A tighter fundraising climate brings investment terms that seem unfair by 2021 standards as well as more scrutiny on business plans and routes to profitability. VCs are increasingly having to play the bad cop and be more prudent with the capital entrusted to us.
Global Venture Funding In October Dips Below 2023 Average
Global venture funding reached $21 billion in October 2023, a few billion dollars below the average 2023 monthly funding amount to date, Crunchbase data shows.
Funding continued to slow year over year with October amounts down around 24% from the $28 billion invested in October 2022.
To put this in a wider context, funding last month was less than one-third the monthly totals during the peak months of 2021.
Seed and early-stage funding also declined by about a third year over year as investors continued to scale back. Late-stage funding declined by 18% from a year ago, Crunchbase data shows.
Venture funding to U.S. companies totaled $11 billion — slightly more than 50% of total global funding.
Cybersecurity Sector Leads For New Unicorns In October, With Zero From Silicon Valley
While nine companies joined The Crunchbase Unicorn Board in October 2023, the majority of the existing unicorn companies that raised additional funding last month did so through extension rounds that came with no increase in value, an analysis of Crunchbase data shows. Of the new unicorns, two focus on cybersecurity, while a single company was in the generative AI category, a startup based in Beijing that is less than a year old. Interestingly, zero companies joined from Silicon Valley.
Getting Ready for Bitcoin's Catalysts
The price of bitcoin, the world's largest cryptocurrency by market cap, began climbing during the week of October 23 after spending much of the summer stuck around $26,000. It recently rose above $35,000 to touch its highest level since May 2022. Why is bitcoin appreciating? Some point to signs that a slate of exchange-traded funds that hold actual bitcoin — known as spot bitcoin ETFs — may soon be approved by U.S. regulators. Such approval (if granted) will provide investors with additional products to access bitcoin exposure and may attract participants who may have been sitting on the side-lines.
LPs prioritize performance to stick with top-quartile managers
Limited partners are in the midst of top-grading their portfolios—another hit to the fundraising efforts of firms that fall below the top quartile. As 2023 comes to a close, LPs are evaluating their allocations and filtering relationships with managers based on performance. They're reluctant to commit and recommit to those with underperforming funds, preferring top-quartile vehicles over middle-tier, and emerging managers. GPs with the highest conviction from LPs will command the bulk of the fundraising dollars, said Matt Bank, deputy chief investment officer at Global Endowment Management, which invests on behalf of smaller endowments and foundations.
Bitcoin ETFs will drive institutional adoption in 2024 — Galaxy Digital’s Mike Novogratz
Galaxy Digital founder Mike Novogratz has told investors that 2024 will be headlined by institutional adoption of cryptocurrencies, which will be driven by the pending approval of Bitcoin spot exchange-traded funds (ETFs). During Galaxy Digital’s third-quarter earnings call on Nov. 9, Novogratz highlighted the firm’s belief that approving several ETFs “is now not a matter of if but when.” The fund manager filed its spot Bitcoin and Ether ETF applications with the United States Securities and Exchange Commission in partnership with Invesco in Q3 2023.
Private equity returns show signs of life
Private equity fund returns in H1 2023 trended positive in contrast with the nosedive in VC performance. After a period in the red last year, PE funds saw their highest quarterly returns since Q4 2021 in Q1 2023, according to PitchBook's latest Global Fund Performance Report. The upward mobility—while muted compared to pre-2022 returns—continued into the second quarter. PitchBook analysts estimate that Q2 2023 will generate overall PE fund returns of 2.7%, a figure they interpret as positive but too modest to signal the beginnings of a wider market recovery.
Short election periods for secondaries frustrate LPs
At SuperReturn North America, investors debated the merits of a key element in secondary transactions: the election period. Private-market industry leaders and institutional investors gathered in a dimly lit ballroom in Times Square to discuss asset allocation, fundraising in a dislocated market and co-investments. One Monday panel addressed the length of the election period on GP-led secondary transactions, a source of contention between GPs and their LPs.
Hong Kong ‘ready’ to capitalize on crypto’s next bull run
Hong Kong is “very ready” for the next wave of mass crypto adoption, with an influx of crypto talent that has been spilling into the aspiring digital asset hub, says Jupiter Zheng, a partner at Hashkey Capital. Speaking to Cointelegraph, Zheng, partner of liquid funds and research at the investment arm of Hong Kong crypto firm HashKey Group — explained that the combination of new Web3 projects along with crypto-positive regulatory developments has primed Hong Kong for significant growth in the next four to five years.
47 countries pledge to authorize Crypto-Asset Reporting Framework by 2027
Just under 50 national governments have issued a joint pledge to “swiftly transpose” the Crypto-Asset Reporting Framework (CARF), a new international standard on automatic exchange of information between tax authorities, into their domestic law systems. The statement was published on Nov. 10. The Organisation for Economic Cooperation and Development (OECD) published the CARF in 2022. Developed from an April 2021 mandate from the G20, the CARF framework requires reporting on the type of cryptocurrency and digital asset transaction — whether through an intermediary or a service provider.
Blurred Vision: The ups and downs of SoftBank's venture portfolio
It has been a bad month for Japanese investment giant SoftBank. In the space of seven days, SoftBank's once most-prized—and most-funded—portfolio company, WeWork, filed for Chapter 11 bankruptcy protection and the firm revealed a loss of 931 billion Japanese yen (around $6.2 billion) in Q3. While WeWork is partly to blame for the significant loss, the overall depreciating value of SoftBank's Vision Funds—which house its venture investments—is a continuing struggle for the Japanese firm.
3 theories for Sequoia's gravity-defying fund marks
Talk to any valuation professional, and one of the first things they'll tell you is that pricing companies is both an art and a science. It means that despite financial theory and general guidelines—some of which I previously explored in detail—figuring out how much a privately held business is worth involves a degree of subjectivity. LPs know this all too well. They regularly see VCs value the same company differently. I kept that context in mind when I wrote about Sequoia's fund valuations in October. While my conversations with LPs and my review of PitchBook's fund performance benchmarks revealed that most venture firms reduced their portfolio valuations between 15% and 25% in 2022, the legendary VC firm has largely bucked that trend.
Tech is Going to Get Much Bigger
What happens when energy, intelligence, and labor get cheap?
Tech is going to get so much bigger in the next decade or two that it will make everything up until now look quaint by comparison. We’re standing on that part of the curve that looks steep in the present but will look prairie flat looking back from the future.
SoftBank’s Vision Fund Posts $1.7B Loss
SoftBank Group’s once-heralded Vision Fund unit posted a $1.7 billion loss for the most recent quarter ended in September, in part due to the writing down of its stake in now-bankrupt WeWork. The loss comes after the investing giant posted its first gain in six quarters in August. Softbank Group as a whole poised a loss of about $6.2 billion. About four months ago, an emotional Masayoshi Son told investors that SoftBank, the multinational investment holding behemoth he leads, would again shift from “defense mode” as it looks to be a leader in AI and robotics.
How To Approach An Investor If You’re Doing It For The First Time
There are plenty of events where startup founders can pitch their projects. However, if you’re fundraising for the first time, the competition is so high that the likelihood of getting investments is minimal. At our fund, we receive around 10,000 pitches a year; at every event we attend, there are at least 30 startups approaching us, and most of your competitors are very well-prepared. What you can do is to go to places not crowded by fellow startuppers; no competition. Be ready to invest between $10,000 and $15,000 in your efforts. With this money, you should get into places with the right audience.
Can Stablecoins Get Past Their Instability?
Stablecoins, cryptocurrencies designed to hold a stable value through a peg to an underlying asset, such as the U.S. dollar, have gained popularity for their potential to provide the flexibility of cryptocurrency without its price volatility. Their design — whether fiat-backed, as most are, or algorithmic (i.e. backed by other assets or cryptocurrencies) — is meant to offer users a refuge from the price gyrations of traditional cryptocurrencies like bitcoin and ether. One significant advantage of stablecoins is their operational efficiency and cost-effectiveness in cross-border transactions.
Where we are, where we are going, and where to invest - here is the whole thing
Robotics funding saw another dip in 2023
In 2021, robotics startups were flying high. Unlike other categories that had buckled under the strains of a global pandemic, interest in automation was at an all-time high, as companies attempted to navigate supply chain issues and ongoing labor shortages. Robotics and automation were insulated from broader investment slowdowns, but eventually, they, too, were impacted. It’s not as though the signs haven’t been there. I kicked off the year with a post titled, “The thing we thought was happening with robotic investments is definitely happening.” That thing being investment slowdowns. After a banner year, 2022 was the second-worst year for robotics investments in the past five.
The Robots Are Still Rising, Albeit With Less Funding
Every so often, a startup comes along hawking a product that elicits the reaction: “I want that.” The latest exemplar of this is Matic, developer of an AI-enabled robot capable of vacuuming and mopping on demand, detecting messes and skirting clutter. As it solicits reservations for its bot, the Silicon Valley company, founded by a pair of dads with a distaste for cleaning, is also drawing interest from investors. Matic closed on a $24 million Series A round last week from backers including former GitHub CEO Nat Friedman, and Stripe founders John and Patrick Collison.
Access to DeFi Opportunities Is Under Threat From Within. Automation Can Help
Decentralized finance, or DeFi for short, has a problem. We set out with the aim of making finance transparent, non-custodial and most importantly widely accessible. While we've seen promising use cases of cryptocurrencies in countries battling inflation, among those sending cross-border remittances, enabling basic payments is a far cry from achieving the true democratization of DeFi. What we have witnessed in the world of DeFi is a rapidly shrinking set of actors reaping the lion's share of the benefits.
Microsoft partners with VCs to give startups free AI chip access
In the midst of an AI chip shortage, Microsoft wants to give a privileged few startups free access to “supercomputing” resources from its Azure cloud for developing AI models. Microsoft today announced it’s updating its startup program, Microsoft for Startups Founders Hub, to include a no-cost Azure AI infrastructure option for “high-end,” Nvidia-based GPU virtual machine clusters to train and run generative models, including large language models along the lines of ChatGPT. Y Combinator and its community of startup founders will be the first to gain access to the clusters in private preview. Why Y Combinator? Annie Pearl, VP of Growth and Ecosystems, Microsoft, called YC the “ideal initial partner,” given its track record working with startups “at the earliest stages.”
VC investment into impact startups plummets worldwide in 2023
Global venture capital investment into impact startups is predicted to drop by 36% this year, a further decline from 2022, the latest figures from startup data platform Dealroom reveal. Impact Startups 2023, launched today at ImpactFest in the Netherlands, bases its findings on the Dealroom Impact database, which gathers information on more than 17,000 “impact startups”. Impact startups are defined as companies that address one or more UN Sustainable Development Goals (SDGs) at the core of their business and have the potential to scale.
Food Investors Bet On Healthy, Convenient, Fermented And Highly Caffeinated
Food and beverage startups broadly fall into two categories: old standbys and avant garde experiments. The first group consists of companies making new-and-improved versions of things we already enjoy, be it coffee, breakfast cereal or fine whiskey. The rest mostly goes to those working on novel flavors and forms. Think mushroom drinks and jerky, caffeinated gum and cocoa-free chocolate. As we look at food and beverage startup funding trends for 2023, it’s clear both approaches are drawing investors’ attention.
If governments want to help startups, they should stop being such terrible customers
Public funding of tech startups is on the rise across Europe. In the UK, Germany and France, billions of euros are being poured into the tech ecosystem. It is a noble gesture, and it is in all of our interests to have successful companies in key enabling technology areas like artificial intelligence, semiconductors and security. But while startups in this sector receive grants and financing from governments, for many companies, it is not really necessary. It is the government’s job to provide necessary regulatory frameworks, but startups can still raise VC or private equity money. What startups need is for governments to use the technologies it funds and enables.
10x more money goes to VC funds owned by all-male vs all-female teams
It’s not just female founders who struggle to get their fair share of funding. It’s also female VCs. In the UK, all-male-owned VC funds raised around ten times more capital than all-female-owned funds — and almost five times more capital than mixed-gender-owned funds — between 2017 and 2023. This means that of the £6.6bn raised by UK-based VCs since 2017, just £462.5m was raised by all-female-owned funds, according to a new report from Ada Ventures, Diversity VC and Google Cloud. What’s more, the report found that just 23 women have a significant stake in a VC firm in the UK (17.7% of those who have a significant stake in a VC firm).
WeWork’s bankruptcy is proof that its core business never actually worked
WeWork’s bankruptcy filing has arrived. The well-known flexible office-space company has filed for Chapter 11 bankruptcy protection in the United States and Canada, seeking to convert certain debts to equity investments, and “further rationalize its commercial office lease portfolio.” In fewer words: WeWork wants out of some of its leases while keeping its lights on so it can shed liabilities and get its business to a point where it can self-sustain. For more on the nuances of the filing, see TechCrunch’s coverage of the news.
How US Companies Can Gain A Competitive Edge Leveraging LatAm Talent
Anyone who’s been paying attention to Latin America lately knows that the region has been making waves in the global tech arena. Just to mention a few, countries like Brazil and Colombia have been emerging as hubs for product development for the United States market. Some even dare speculate that LatAm’s innovation potential is beginning to rival that of Asia. The LatAm-U.S. connection can drive business innovation through diverse perspectives and foster sustainable growth opportunities. Over the course of 2023, U.S. companies have ramped up their year-over-year hiring in Latin America by a staggering 50%.
Billionaire Charlie Munger, Warren Buffett’s right-hand man, says a lot of venture capitalists screw their investors
Billionaire Charlie Munger, Warren Buffett’s right-hand man, isn’t shy about his dislike for venture capitalists. In 2014, the legendary investor told the Wall Street Journal that it would be better for venture capital funds to light their money “on fire with an acetylene torch” than to invest in internet startups. Now, at the age of 99, soon to turn 100 on Jan. 1, he has another message for venture capitalists: “To hell with them!”
How big really is 250m people?
It is the first thing on everyone’s presentation about Pakistan – 250m population!! Who wouldn’t be impressed by such a large number of potential customers? While undoubtedly impressive, this number alone does not tell the whole story. Size matters, but in this case it is important to understand the breakdown of the 37m households and incomes within that population to identify the correct business models and strategies to pursue.
Top 10 Single Family Office Trends
In the ever-evolving world of wealth management, understanding the latest trends can provide UHNWIs and HNWIs with the competitive edge they need. As 2023 unfolds, Single Family Offices (SFOs) face unique challenges and opportunities, making it crucial for UHNWIs to stay ahead of the curve. In this article, we delve into the top 10 SFO trends and their implications for high-net-worth individuals.