David Coats

Co-founder @correlationvc

[David Coats @CoatsDavid]

In Correlation's data, we find no evidence that investments made by larger firms underperform those by smaller firms when controlling for vintage and stage. So agree with you re: the importance of controlling for vintage. Absolute returns by larger firms tend to trail those of smaller firms because they tend to invest a higher % of dollars in later stage, less risky rounds

[David Coats @CoatsDavid]

Great post. You might find interesting a related blog post I wrote a while ago that shows that many of the biggest winners in venture (by actual return on investment) were not in unicorns, and many of the biggest winners in venture were not in unicorns. Thanks for the motivation to update the data on this! I've no doubt it will show similar results today. https://t.co/26rBoUwSVV

[David Coats @CoatsDavid]

Interesting discussion. At Correlation Ventures, we believe we have the industry leading dbase of returns by stage. Seed returns are often greatly overestimated b/c of the survivorship bias issue that Sean mentioned. We find that Seed returns (multiple and IRR) are higher than other stages in most vintages, as expected, but that it is an appropriate level of higher return for the higher risk. So, the higher returns seen in Seed appear to be less due to greater inefficiency than to higher risk. Definitely agree with the key points above that most institutional venture funds are not well structured to capitalize on the higher returns seen in Seed.

[David Coats @CoatsDavid]

@micahjay1 For the internet, cloudmobile, and CRISPR, returns were elevated for investments made ~5 years after their introductions. IF history repeats itself, that would imply that investors still have 1-2 more years of elevated returns following the AI onset (albeit lower than years 1-3)

[David Coats @CoatsDavid]

https://t.co/tKYOK1LCUX

[David Coats @CoatsDavid]

When One (IPO) Window Closes, Another One Opens? - Check out my latest blog! https://t.co/JqWSquPctS

[David Coats @CoatsDavid]

Does Greater Risk Equal Greater Return in U.S. Venture? Read my latest blog to find out. https://t.co/drUGICP8wa

[David Coats @CoatsDavid]

The 80/20 Rule for U.S. Venture? Not Exactly. Check out my latest blog here: #VentureCapital
https://t.co/075I3y8iuh

[David Coats @CoatsDavid]

Venture Capital - We're Still Not Normal. Check out my latest blog post here:
https://t.co/5rHLVz3QYN

[David Coats @CoatsDavid]

I am excited to share the news of the close of @CorrelationVC’s third fund, as well as the promotions of @WesleyBarrow and @MoizSaifee. Excited to keep pioneering the use of predictive analytics in venture capital.

[Correlation Ventures @CorrelationVC]

We at @CorrelationVC are very excited to announce the close of our third fund, Correlation III, as well as two new partners @WesleyBarrow and @MoizSaifee.

https://t.co/SmGYiY7feO

[David Coats @CoatsDavid]

Lay Low or Lean In? Venture and Recessions - Check out my post here https://t.co/8ea5rdNr4S

[David Coats @CoatsDavid]

Thiel vs. AngelList. Who is Right? Check out my post here: https://t.co/297rnlPdfa

[Correlation Ventures @CorrelationVC]

We at @CorrelationVC are very excited to announce our 300th investment as well as some new members of our team. It has been great to see the validation for our unique value proposition in the venture industry for the past 11 years. More here - https://t.co/mZwYuugDMP

[David Coats @CoatsDavid]

Check out my latest blog post here on VC in light of COVID-19 https://t.co/LbfNf7MflT

[David Coats @CoatsDavid]

Venture Capital - No, We're Not Normal. Check out my latest post here!
https://t.co/liuPPStiAf

[David Coats @CoatsDavid]

Should Founders Take the Plunge? Check out this post by @CorrelationVC @TrevorKienzle, @I__S__0 #venturesapital #Startup, https://t.co/YAptBuTgkl

[David Coats @CoatsDavid]

If you’re attending the @biocom Global Life Science Partnering Conference, be sure to check out the The Future of Life Science Investing panel I’ll be speaking on, happening Wednesday, February 27th at 9:30am! #BiocomPartnering

[David Coats @CoatsDavid]

1.Move over unicorns, here are the winners we should most celebrate in U.S. Venture for 2017! Check out my latest post here! https://t.co/HT1LzjycUu

[David Coats @CoatsDavid]

Is it possible to have too many VC cooks in the kitchen? Check out my latest post here! #venturecapital #startup

https://t.co/M03n05TjLw

[Trevor Kienzle @TrevorKienzle]

We're adding 2 Associates to the firm in the Bay Area (https://t.co/6ER73Uhl2G) and in Boston (https://t.co/ALktf7ZzGZ). Bay Area Associate will focus mainly on IT and Consumer oppys and Boston Associate will focus mainly on healthcare oppys. Apply at [email protected]