Five Metrics for Venture Success

How do investors gauge whether a company is one from a pool of thousands worth their resources? KPCB partner Beth Seiden
2 reviews
TAUGHT BY
  • Beth Seidenberg Kleiner Perkins Caufield & Byers
    Beth joined Kleiner Perkins Caufield & Byers in May 2005 to work in life sciences. For the past 20 years, she has focused her career on introducing new innovative treatments for AIDS, arthritis, asthma, cancer, psoriasis, cardiovascular, metabolic, neurological and renal disorders.

    Seidenberg has introduced 10 innovative products to market and achieved over 40 regulatory approvals, including new indications and formulations, worldwide. These products have been successfully commercialized and provided benefits to millions of patients with grievous illnesses, and they have generated several billion dollars of revenue.

    Prior to joining KPCB, Beth was Senior Vice President, Global Development, and Chief Medical Officer at Amgen, Inc., the world's largest biotechnology company. During Beth's three years there, her responsibilities included all stages of clinical research, regulatory affairs, safety, health economics/reimbursement and medical affairs. During her tenure, five innovative products were approved for commercial use. Prior to joining Amgen, Beth was a senior executive in research and development at Bristol-Myers Squibb Company and Merck & Co., Inc.

    She began her career in basic and clinical research at the National Institutes of Health specializing in immunology and infectious diseases. Beth received her BS from Barnard College magna cum laude, Phi Beta Kappa; and her medical degree from the University Of Miami School Of Medicine, alpha omega alpha. Her post-graduate training was completed at Johns Hopkins, George Washington School of Medicine and the National Institutes of Health. She is a member of the Johns Hopkins Bloomberg School of Public Health Advisory Board and Barnard College Science Advisory Board.
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Five Metrics for Venture Success

How do investors gauge whether a company is one from a pool of thousands worth their resources? KPCB partner Beth Seiden
2 reviews

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How do investors gauge whether a company is one from a pool of thousands worth their resources? KPCB partner Beth Seidenberg shares her firm's five measures for financial fortitude. In this clip, she outlines leadership, and how this is the most important talisman of a growing enterprise's success. In addition, she discusses the importance of large, fast-growing, under-served markets, and KPCB's willingness to take risk with new technologies. Reasonable financing structures and a sense of market urgency are also key indicators; being the first and being the best matters. Founders who are missionaries, not mercenaries, nearly always seal the deal.
    • Over 8 lectures and 25 mins of content!

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CURRICULUM

  • 1
    Five Metrics for Venture Success
    04:29
    How do investors gauge whether a company is one from a pool of thousands worth their resources? KPCB partner Beth Seidenberg shares her firm's five measures for financial fortitude. In this clip, she outlines leadership, and how this is the most important talisman of a growing enterprise's success. In addition, she discusses the importance of large, fast-growing, under-served markets, and KPCB's willingness to take risk with new technologies. Reasonable financing structures and a sense of market urgency are also key indicators; being the first and being the best matters. Founders who are missionaries, not mercenaries, nearly always seal the deal.
  • 2
    The Silicon Valley Ecosystem
    05:31
    Boston and San Diego can claim some footing, but Silicon Valley is truly the hub for technological innovation, says KPCB partner Beth Seidenberg. Her venture firm is doing some work in Europe and China, but Valley culture includes education, technical expertise, talent, and access to capital unparalleled elsewhere. To illustrate her point, Seidenberg offers a case study that compares the ecosystems of Southern California to the offerings of Northern California universities and Sand Hill Road.
  • 3
    Graduating New Technologies
    01:21
    Ninety percent of KPCB's new technologies come from university research, reports partner Beth Seidenberg. But how do the pieces come together? It all may begin with a good idea, but even the most brilliant and innovative technology needs a practical application for building a sustainable entity.
  • 4
    A Snapshot of Early Financing
    02:43
    Demonstrating her lesson using a case study of a medical device company, KPCB partner Beth Seidenberg offers an illustrative example of what angel and first-round financing might look like for the upstart enterprise. Her advice includes tips on seeking seed money, and why a small company shouldn't go out for financing too soon. Incrementally building dollars around real milestones is critical for real investment and corporate success.
  • 5
    Cost Differentiation of a Start-Up
    02:00
    Less contingency planning, a smaller team, shorter spells of tinkering and perfectionism... Parter at KPCB Beth Seidenberg analyzes the differences in efficiencies between the corporate world and the start-up environment. Retaining its nimble nature, says Seidenberg, is the best way for any enterprise to withstand its regular crisis cycle.
  • 6
    Who Owns What?
    01:17
    Beth Seidenberg, a partner at VC firm KPCB, says that in the beginning of a company's life cycle, founders typically own the majority of a budding enterprise - often as much as 80 percent, sharing the remainder with seed funders. But as that company continues to flower and VC investors are brought into the fold, that number can drop substantially, with firms owning anywhere from 20-60 percent. Founders are motivated to increase their ownership stake, and the only way to accomplish this, says Seidenberg, is for them to increase the company's value overall.
  • 7
    Trends in Venture Capital Interest
    05:37
    In 2007, $30 billion was invested in new business, with the majority of it in California and focused on green technologies. KPCB partner Beth Seidenberg gives her take on the pulse of current venture capital areas of exploration. Highlights include third-party applications for the iPhone, life sciences and medical innovations, pandemic preparedness and biodefense, and global initiatives.
  • 8
    Understanding the Overseas Investment Market
    02:52
    Culturally, the differences can be night and day. Financially, the rules can be completely different. Rather than trying to operate in China and jump its many hurdles from afar, KPCB partner Beth Seidenberg says her firm found the best local entrepreneurs in the country and partnered with them, giving them the Kleiner Perkins Caufield & Byers brand. In India, the business community works more closely with Silicon Valley, simply assigning its partners to the ground and forging relationships with other serial entrepreneurs.

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