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The Data Minute

Carta

30 episodes

17 hours ago

In another special solo episode, Peter Walker dives deep into Carta's Q2 Fund Performance Report to unpack the data on what's really happening inside venture capital today. Peter walks through the critical benchmarks every GP and LP needs to know, from median and top-decile Net IRR, TVPI, and DPI across different vintages and fund sizes. He explains why the 2021 vintage is struggling, why small funds have higher performance dispersion, and how liquidity pressure is (or isn't) impacting GP beh...

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In another special solo episode, Peter Walker dives deep into Carta's Q2 Fund Performance Report to unpack the data on what's really happening inside venture capital today. Peter walks through the critical benchmarks every GP and LP needs to know, from median and top-decile Net IRR, TVPI, and DPI across different vintages and fund sizes. He explains why the 2021 vintage is struggling, why small funds have higher performance dispersion, and how liquidity pressure is (or isn't) impacting GP beh...

Show more...

Episodes (20/30)

The Data Minute

The Great VC Concentration

In another special solo episode, Peter Walker dives deep into Carta's Q2 Fund Performance Report to unpack the data on what's really happening inside venture capital today. Peter walks through the critical benchmarks every GP and LP needs to know, from median and top-decile Net IRR, TVPI, and DPI across different vintages and fund sizes. He explains why the 2021 vintage is struggling, why small funds have higher performance dispersion, and how liquidity pressure is (or isn't) impacting GP beh...

18 hours ago

54 minutes

The Data Minute

Supernova & Shooting Star: The New AI Benchmarks | Janelle Teng (Partner, Bessemer Venture Partners)

In this special live episode of The Data Minute, recorded in San Francisco, Peter is joined by Janelle Teng from Bessemer Venture Partners for a data-driven look at the state of AI fundraising. Peter and Janelle walk through the data on everything from the AI valuation premium to the new benchmarks for growth, breaking down Bessemer's "Supernovas" and "Shooting Stars" framework. They discuss why fundraising timelines have gotten longer, how dilution remains steady despite soaring valuations, ...

2 weeks ago

58 minutes

The Data Minute

A Founder’s Guide to AI Funding

In another special solo episode, host Peter Walker tackles the most requested topic on The Data Minute: AI funding and valuations. Using data from Carta and Bessemer Venture Partners, Peter unpacks what’s really happening inside the AI boom. He walks through five key charts that reveal where the capital is flowing, the massive valuation premiums AI-native companies command at Seed and Series A, and why San Francisco is still the undisputed center of the AI universe. Peter also breaks down Be...

3 weeks ago

10 minutes

The Data Minute

The Automated VC | Yohei Nakajima, Founding Partner, Untapped VC

This week, Peter is joined by Yohei Nakajima, founding partner of Untapped VC and one of the most forward-thinking investors in the AI space. Known for his public experiments with AI agents and automations, Yohei shares his radically different approach to venture capital: investing from the top down. Yohei explains how he uses the social networking site X and his AI community, Baby AGI, to map market trends, develop a unique conviction, and source founders, flipping the traditional referral-...

1 month ago

50 minutes

The Data Minute

One In, One Out: A Look at Startup Hiring

In this special solo episode of The Data Minute, host Peter Walker dives into the data from Carta's latest research on the state of startup hiring. With hiring down month-over-month since 2021, Peter unpacks the trends that every founder, operator, and investor needs to understand. Using five key charts, Peter breaks down the current talent landscape: the shrinking gap between layoffs and voluntary departures, the reality of net headcount growth, and the "one in, one out" philosophy that's d...

1 month ago

9 minutes

The Data Minute

The Future of VC-Backed Fintech | Drew Glover, Founder and Managing Partner, Fiat Ventures and Fiat Growth

On this episode of The Data Minute, Peter sits down with Drew Glover, founder and managing partner at Fiat Ventures and Fiat Growth, for a wide-ranging conversation on what’s next in fintech and what founders actually want from their investors. They dive into how fintech is moving from DTC chaos into quietly powerful B2B infrastructure, why capital is no longer a moat, and how AI may turn traditionally “unsexy” industries into VC-ready moonshots. Drew shares how Fiat combines strategic capit...

2 months ago

52 minutes

The Data Minute

What it Really Takes to IPO | Dave Chen, Co-Head of Global Technology Investment Banking at Morgan Stanley

In this special episode of The Data Minute, Peter sits down with Dave Chen, Co-Head of Global Technology Investment Banking at Morgan Stanley, for a tactical deep dive on how today’s founders should think about going public. Dave shares what IPO prep really looks like in 2025 and beyond, why the best companies start working with bankers 2–3 years ahead of a listing, how institutional investors actually evaluate growth-stage companies, and which metrics every founder needs to start tracking l...

2 months ago

46 minutes

The Data Minute

How PE Funds Really Get Started | Stephanie Srulowitz (Co-Head of U.S. Private Funds at Weil, Gotshal & Manges)

What does it really take to spin out and start your own private equity firm? Stephanie Srulowitz, co-head of U.S. private funds at Weil, Gotshal & Manges, joins The Data Minute to break it all down. From legal structure to fundraising strategy to LP negotiation tactics, she and Peter walk through the three common paths to fund launch (and which is the hardest), why some seed capital can come at a steep cost, and how new managers should think about anchor LPs, placement agents, and fund te...

3 months ago

56 minutes

The Data Minute

How LPs Think: Taste, Timing, and Saying No With Style | David Zhou (Head of Investor Relations, Alchemist Accelerator)

This week on The Data Minute, Peter sits down with David Zhou, Head of Investor Relations at Alchemist Accelerator and the host of Superclusters, for a deep dive into how LPs choose, and say no to, emerging managers. David shares what hundreds of GP conversations have taught him about building trust and avoiding the "sea of sameness.” They talk about why charisma can be learned, how LPs think about relationship-building versus returns, and why fund managers should spend less time pitching an...

4 months ago

1 hour 6 minutes

The Data Minute

AI, LPs, and the New Era of Venture | Lu Zhang (Founder & Managing Partner, Fusion Fund)

Lu Zhang Managing Partner of Fusion Fund joins Peter this week to talk about what it takes to scale an early-stage venture firm—and back game-changing companies—at the speed of today’s AI boom. Fresh off her oversubscribed $190M Fund IV raise, Lu talks about what most managers get wrong when pitching institutional LPs, what it takes to stand out in a bubble-driven market, and why true founder support means going way beyond capital. She opens up about her unique CXO and Super Founder networks...

4 months ago

46 minutes

The Data Minute

Liquidity, LPs, and the Long Game | Beezer Clarkson (Partner, Sapphire Ventures)

In this episode of The Data Minute, Peter is joined by Beezer Clarkson, Partner at Sapphire Ventures and co-host of the acclaimed Origins podcast, for a candid, rapid-fire look inside the minds of LPs, the realities of fundraising, and why venture isn't broken, but is being reshaped. They cover the biggest questions emerging managers are asking right now: How do you stand out in a market filled with sameness? Do mega-funds really distort early-stage deals? And how should GPs talk to LPs abou...

5 months ago

56 minutes

The Data Minute

Backing Founders From Day Zero | Ed Sim (Founding Partner, Boldstart Ventures)

What does it mean to be a “day one partner” for founders—and how does that change in an era of AI-driven acceleration? On this episode of The Data Minute, Peter sits down with Ed Sim, founding partner of Boldstart Ventures and the voice behind “What’s Hot 🔥 in Enterprise IT VC.” Ed shares what it means to invest at the “inception stage”—before a company is even a company—and how startup formation, team sizes, fundraising expectations, and milestones have radically shifted post-AI boom. This...

5 months ago

51 minutes

The Data Minute

Innovation Meets the Real Estate Industry | Liza Benson (Partner, Moderne Ventures)

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) sits down with Liza Benson, Partner at Moderne Ventures, to discuss investing in real-world industries and Moderne’s unique LP-driven approach. They discuss the Moderne Passport, a multi-stage investment fund and industry immersion program, how to turn pilots into revenue, and why so many founders overlook real estate as a growth channel. Liza also shares what LPs are really looking for today, as well as practical ...

6 months ago

42 minutes

The Data Minute

The Future of Venture in an AI World | Brianne Kimmel (Founder and Managing Partner, Worklife Ventures)

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) sits down with Brianne Kimmel, founder and managing partner at Worklife Ventures, to explore what it really takes to build enduring companies in today’s AI-first startup landscape. They discuss the new playbook for go-to-market, why “renewals are the new revenue,” and how modern founders are raising—and deploying—capital differently. Brianne brings a tactical lens to everything from strategic hiring and secondaries ...

6 months ago

44 minutes

The Data Minute

The Future of Fund Forecasting | Anubhav Srivastava (Founder, Tactyc)

Welcome to a very special episode of The Data Minute. For the first time, Peter Walker (Head of Insights at Carta) is joined by an actual Founder and CEO, Anubhav Srivastava whose company Tactyc.io is now a part of the Carta family! Join them for an in-depth conversation that goes in two directions. First, for VCs, they discuss reserve ratios, recycling capital, forecasting, and the effect LP influence could have on your fund metrics. Second, Anubhav shares his experience on what it’s like to...

11 months ago

33 minutes

The Data Minute

The Hidden Value of the VC CFO | Marie Drez (Venture Capital CFO)

In this week’s episode of The Data Minute, Peter Walker (Head of Insights at Carta) and Marie Drez (Venture Capital CFO) sit down for an insightful conversation on the crucial role of fund CFOs and how emerging managers can find one. This discussion is full of expert insights. Marie shares important lessons from the SVB crisis, questions to ask banking partners, and why, in the world of AI, great CFOs are more important than ever. Subscribe to Carta’s weekly Data Minute newsletter: https://ca...

1 year ago

40 minutes

The Data Minute

How has the founders market changed? | Aditi Maliwal (Partner, Upfront Ventures)

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) and Aditi Maliwal (Partner, Upfront Ventures) have an in-depth conversation regarding the seed and Series A market. They discuss seed stage dynamics across the U.S. plus AI companies and how to determine which companies are worth investing in.There’s also a discussion on the importance of grit, both in an investor portfolio and as a founder trait, and, of course, speed round questions.Subscribe to Carta’s weekly Data...

1 year ago

48 minutes

The Data Minute

The VC/Founder Cheat Sheet | Rex Salisbury (Founding GP, Cambrian Ventures)

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) is joined by Rex Salisbury (Founding GP, Cambrian Ventures) to discuss what’s developing in the fintech space, GPs calling more capital, and Rex’s idea on how to get into the tech industry.This conversation also covers Rex’s personal cheat sheet explaining why someone shouldn’t be a VC, and should instead start a career in tech or become a founder.Subscribe to Carta’s weekly Data Minute newsletter: https://carta.com/...

1 year ago

42 minutes

The Data Minute

Have we reached a tipping point with SAFEs? | David Willbrand (Chief Legal Officer, Pacaso)

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) is joined by David Willbrand (Chief Legal Officer, Pacaso) for a wide-ranging conversation on fundraising with SAFEs, liquidation preferences, and the relationship between founders and lawyers. What started as a discussion on the technical aspects of raising a SAFE, late-stage liquidation outcomes, and other fundraising topics turned into an examination of the founder/lawyer relationship with one of the world’s ...

1 year ago

47 minutes

The Data Minute

Your check size dictates fund strategy | Charles Hudson, Founder & Managing Partner, Precursor Ventures

In this episode of The Data Minute, Peter Walker (Head of Insights at Carta) is joined by Charles Hudson (Managing Partner and Founder, Precursor Ventures and writer of the Venture Reflections Substack - chudson.substack.com) for a deep discussion about pre-seed deals, the differences between multi-stage and small funds, and the types of investing that work in this AI dominated market. They also cover SAFEs, how pre-seed investing has changed, Charles' time in the National Venture Capita...

1 year ago

55 minutes