E5: Mark Suster and Samir Kaji on the 2024 Venture Market, IPOS, and Secondaries

Key Points

• IVP, a venture capital fund with a 43-year history, is raising their 18th fund targeting between $1.3 to $1.5 billion, signaling renewed confidence in the venture fundraising market, especially at the Series B stage and beyond.
• The current venture market is seeing a return to more disciplined investment strategies, with reduced valuations and companies that have improved their financial health, presenting a favorable environment for seasoned investors like IVP.
• The venture capital industry is experiencing a right-sizing, with contributions from LPs to VCs down by 60%, and a shift in fundraising dynamics, where even well-established firms are taking longer to close funds and often require multiple closes.