Sean Sebastian

Birchmere Labs | Birchmere Ventures

[Sean Sebastian @bvSeanSebastian]

@hpierrejacques 5/ Subject to negotiation with LPs:
Scale: 10% recycle? 20%? 25%? (this is what https://t.co/5ldht4F9CQ does)
Timing: Within investment period only? Life of fund?
RoC vs. gains: Applies to any return of capital? Or just from gains?

[Sean Sebastian @bvSeanSebastian]

@hpierrejacques 4/ Also presumptive that LPs want recycling:
Pro: they get +/- 100% of their capital invested vs. 80%
Con: to do so they "re-risk" capital by forgoing collecting early gains in favor putting that money back to work in the fund.
Most "sophisticated" LPs get this, and go for it.

[Sean Sebastian @bvSeanSebastian]

@hpierrejacques 3/ This is all presumptive of early hits that enable recycling (i.e., if the fund has no early exits then all this is moot), but in concept a bullish/confident posture.

[Sean Sebastian @bvSeanSebastian]

@hpierrejacques 2/ Cutting fee period to 5 years would be super bullish signal (i.e. you'd rather invest a dollar to build carry than just take it off the top as fee) but of course significantly impacts fund operating capital

[Sean Sebastian @bvSeanSebastian]

@hpierrejacques 1/ Very useful analysis, but I think Scenario 3 is mixing two ideas together by cutting fee period to 5 years - applying Scenarios 1 & 2 terms (10 years of fee) with $20m recycle to Scenario 3 yields the same results without cutting fee.

[Sean Ammirati @SeanAmmirati]

Really great conversation today at #3RVF talking about "The Corporate Venture Capital Value Proposition" This is an increasingly important topic for entrepreneurs across the country but especially in #Pittsburgh given the areas of innovation like AV, healthcare & deep science

[Sean Sebastian @bvSeanSebastian]

@SeanAmmirati's prior academic research led to "Science of Growth" and has informed @BirchmereVC investing - I expect "Agile Giants" will do similarly.

[Sean Ammirati @SeanAmmirati]

After a lot of work over the last month, I’m excited to announce a project I’ve been working on. I’m launching a podcast - Agile Giants. You can subscribe / listen here on iTunes https://t.co/9EtYb8GybN

[Sean Sebastian @bvSeanSebastian]

Pretty cool mapping of active VCs by state - fun to see @birchmerevc leading PA venture investing!

[Sean Sebastian @bvSeanSebastian]

Only thing better than @penguins / @capitals rivalry is this selfless act:
#StrongerThanHate #LetsGoPens
‘No room for hate’: Caps’ raffle winner donates $19,000 jackpot to Pittsburgh Jewish community https://t.co/dULUTJHTuV

[Sean Sebastian @bvSeanSebastian]

Pgh's healer-in-chief - a paisan *and* a mensch. Our country could use more of this. #strongerthanhate @iheartpgh
Pittsburgh Mayor Bill Peduto leads his city through its darkest days https://t.co/xfIIOIjET0

[Sean Sebastian @bvSeanSebastian]

Welcome to the @birchmerevc portfolio - looking forward to building a great company together!
Investors see an opportunity framed in Lensabl's prescription lens fulfillment business https://t.co/AUCASELDZW via @techcrunch

[ned renzi @NedRenzi]

Very elegant and cheap way to build high quality, 3D maps without Lidar. Kudos @MapperAI

[Sean Sebastian @bvSeanSebastian]

Welcome to the Birchmere portfolio - looking forward to building a great company together!

[iRestify @iRestify]

Toronto’s iRestify announces $1 million funding round led by @BirchmereVC https://t.co/JKCELykbH8

[Sean Sebastian @bvSeanSebastian]

Nice @LinkedIn @GeorgeAnders piece on #Pittsburgh autonomous vehicle scene: https://t.co/lv1C23yjVj

[Sean Sebastian @bvSeanSebastian]

*The* turning point in Pgh's tech scene was @awmcmu decision to join Google in 2006 only if it built around him here; all major branches grow from that root.

Andrew Moore steps down as dean of CMU's School of Computer Science https://t.co/1TuoPOJM5l via @PittsburghPG @LinderPG

[Sean Sebastian @bvSeanSebastian]

Meredith Grelli is my hero - I can't wait to taste this!

[CMU Swartz Center @CMUSwartzCenter]

Great article featuring @teppercmu @TepperAlumni Meredith Grelli of @WigleWhiskey! Can Liquor Have a Local Taste? They’re Banking on It https://t.co/U8xtCfD3Nd

[Sean Sebastian @bvSeanSebastian]

Exceptional, articulate thoughts from a proven leader in business, military, and civil service - THIS is how we truly make America great again. Happy birthday, America! https://t.co/giHrrK8xD6

[Anton Vuljaj @anton]

If you only read 1 thing this 4th of July, take 15 mins for this @WarOnTheRocks piece by Bridgwater co-CEO (& army vet) David McCormick.

Thoughtful analysis on why America needs more #veterans in leadership positions - across business, media & politics.
https://t.co/ESHQIVxy3U

[Sean Sebastian @bvSeanSebastian]

The Parent Child Relationship https://t.co/gminHBGCjb

[Build412 Tech @build412]

"About half of the employees in Duolingo own a home in #Pittsburgh, and that's completely unheard of in #SiliconValley." - Luis von Ahn, Duolingo CEO

How he built a $700 million company and much more - https://t.co/XULgDsZoDm #Startups

[Sean Ammirati @SeanAmmirati]

Unbelievably stupid!

As a faculty member @CMUSwartzCenter - have seen repeatedly how the dumb immigration laws inhibit startup (ie job creation) growth!! https://t.co/Mxq8VanH4Y