Jim Dugan

We’re excited to partner with Tidemark on the first-of-its kind Vertical & SMB SaaS Benchmark Report! Congrats to Michael Tan, David Yuan, Andrew Walsh and Courtney Mullin for putting this together. If you are a Vertical SaaS CEO or executive looking for benchmarking data to help make product/strategy decisions, then this report is a must read for you. Just leave a comment "Vertical SaaS" in this post, and I'll share the link to the full report in your DM.

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Great time on the Embracing Erosion podcast w/Devon O'Rourke! We talked about: 🚀 How to scale a company from concept to 9-figure exit 🔄 How to break away from the traditional consulting model and apply product approaches ⏩ Why it’s important to iterate quickly and often with messaging 💸📈What signals are important to pay attention to when investing in startups and much more!

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Read our latest article on Creating an Ownership Culture. This piece dives into how fostering a sense of ownership among employees can lead to remarkable outcomes for both the team and the organization. Here at KKR we are committed to providing ownership to all employees in all new controlled deals, building on recent successes of our Broad-Based Ownership Program. Whether you're a leader seeking to enhance your company's culture or an employee interested in the dynamics of workplace engagement, this article offers valuable perspectives. 👉 Read article here: https://lnkd.in/ejVc2ffd You can download the full report here: https://lnkd.in/ee_vT2rs #Leadership #BusinessCulture #EmployeeEngagement #KKR

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I recently joined Tyler Hogge and Sterling Snow on the IO Podcast to discuss frameworks for growth-stage companies and what sets great companies apart from the rest. Listen to our conversation here: https://lnkd.in/edRyAmbz And linking to the blog posts we get into on the pod for easy reference: 1️⃣ R&D is one of the most critical yet challenging capital to allocate. How to get it right: https://lnkd.in/gQ-bN87N 2️⃣ For growth-stage companies burning cash, these are the essential questions to answer before going public: https://lnkd.in/gdjT-Fy2 3️⃣ AI is revolutionizing computing. More on what we can learn from SaaS market dynamics as we enter this new era: https://lnkd.in/ePjw7SvT

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The technology market structure evolution in private markets is a core element of the mainstreaming of alternatives. The distribution evolution to the wealth channel goes hand in hand with the technology market structure evolution in this space, much like we've seen happen in the past with equities, fixed income, and derivatives. Enjoyed the conversation with Passthrough's Tim Flannery and Dynamo Software's Matthew Arnould on technology innovation in private markets.

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This is quite interesting advice and also quite a non-consensus view in the B2B software world. Cross-border founders who are considering the US vs International incorporation question should consider this as valuable input.

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Series A or B wondering when to bring in a VP of Finance or CFO? It’s a crucial decision that can shape the future of your company. At this stage, financial leadership is not just about managing numbers but also scaling processes, securing funding, and driving strategic growth. My colleague Paul breaks down key signs that it’s time to hire and indicators for choosing between VP of Finance and a CFO #FinanceLeadership #CFO #StartupGrowth #SeriesA #SeriesB #NextGenLeadership

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Exciting to see infinitas capital and Opportuna featured in Bloomberg as part of the growing conversation around family offices and the secondary market. With liquidity tightening and investor demand building, Opportuna is seizing the potential of venture secondaries, offering an avenue to unlock liquidity and realize solid gains within a shorter timeframe. To learn more about @Opportuna and our strategy, reach out to Alban C. or Christopher L.R. Chuffart

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One of the things we see quite often at Grit Capital Partners, is a newly minted CEO. We see a big difference in the transition to CEO based upon the historical lane the CEO is coming from. There are different new muscles if you are coming from Product, Engineering, Finance, etc. In this article, we go deep on the CRO to CEO transition, which includes some thoughts from Rosie O'Meara, a particularly fine example of someone who has made the transition quite well. What were your biggest transition moments? https://lnkd.in/eEB-K2ZU

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Happy news from one of our Fund I portfolio companies (which willl hopefully make our investors happy, DPI baby!): https://lnkd.in/e5bPu5qx Personal Thoughts: - My great admiration for the Biocatch team, I've witnessed your achievements and ultimate interim payoff - Bold move from Permira, you got yourselves a strong asset - Constantly reading aggregated data from the VC industry, which is good, but also very misleading. Why? Because as in the economy, even in a bear market, the good and healthy companies will ultimately thrive. Don't rely on aggregated data only

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Pear VC Startup Equity Calculator for Early Hires Pear VC head of talent Matt Birnbaum created this calculator to determine the equity for early hires. You can read more here How to structure startup equity for early hires https://lnkd.in/ggmpT5-Y https://lnkd.in/gjsvths6

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PE - Insights from "Constellation Software" Shareholder Letters Some of the key investment takeaways Constellation Software (CNSWF - https://buff.ly/3Coo3V8 ) These highlight a strategic focus on long-term growth, disciplined investment practices, and the importance of governance and engagement, all good insights for tech PE: - Disciplined Investment Approach: strict adherence to specific acquisition hurdle rates, reducing risk and underscoring the importance of rigorous investment criteria - Acquisition-Focused Growth: they target 100 acquisitions annually, underscoring an aggressive portfolio expansion strategy attractive for growth-oriented investors - Flexible Capital Structure: exploring various financing options for acquisitions, especially in downturns highlighting proactive financial health management - Long-Term Horizon: emphasis on indefinite investment holds to maximize returns, favoring long-term strategies over short-term gains - Post-Acquisition Reviews: they conduct detailed after action reviews (AARs) post-acquisition to refine investment strategy, a best practice for continuous improvement - Decentralized Decision-Making: Constellation operates with small, autonomous business units (just like portfolio CEOs & execs) to foster agile leadership and decisions (i.e. the PE firm doesn't tell the CEO what to do but works alongside collaboratively) - Behavioral Economics: Constellation incorporates insights from behavioral economics to mitigate cognitive biases, enhancing decision-making rigor Constellation Shareholder Letters: https://buff.ly/4fu29Pc ------------------ #pe #privateequity #tech #ceo #cro #saas #gtm #growth #middlemarket #boardofdirectors #board #revenue #revenuegrowth #investing #investment #finance #business

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The practical application of AI to help manufacturers eliminate unplanned downtime is key to our current and future offering. We do not label ourselves as purely an AI company, as that is one component of our value delivery, but I can say we have a world class team of AI Engineers building incredible tech alongside a team of world class Condition Monitoring Engineers. I am bullish and excited to see how Central Ohio emerges as a global AI hub with Intel as an anchor. cc: Brian Graham, Seyed Mohammad Parvasi, Ph.D., Jaidev Krishnan, Matt Longhouse, Chris Berry

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Buying companies sounds very transactional but the art of the deal is the employees, particularly at the $2-5M EBITDA size. Taking the time during diligence, and beyond, to truly understand the people that make the product (your IP), the people that take care of your customers (your revenue), and the people that hold your vendors accountable (your expenses) is the difference of a successful transition and a not successful transition of ownership. Particularly when you look at #founders of #americanmanufacturing companies.

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To all #founders and #entrepreneurs out there, our intro meetings are conversational and easy going. Feel free to message me to setup a call. Learn what Pioneera Ventures can do for you!

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One of the best parts of my work as an early-stage investor and board member is having broad and deep conversations with entrepreneurs I admire. Even better: putting those conversations on the record so we can share them far and wide! Today on 10/10 GTM (Accord’s podcast for revenue leaders), Ross Rich and I dig into how we work together on Accord’s board, what I look for as early indicators of a revenue leader’s impact and potential, and how product and revenue leaders can work hand in hand. It’s all right here →

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We are thrilled to officially announce the launch of Escalera Capital! This marks the next chapter in the evolution of MLSA Ventures, now restructured into an investment company with a unique, vertically integrated ecosystem spanning three operating subsidiaries: Presidian Hospitality, Source Strategies, and Mulberry Realty Partners. By rolling up and consolidating our subsidiaries—comprising over 800 employees—we have created a cohesive organization designed to drive synergy across capital formation, acquisition, development, and management of our investments. Here’s what makes Escalera Capital’s ecosystem exceptional: Presidian Hospitality: With a legacy of award-winning hotels across Texas and Colorado, Presidian is renowned for its purpose-driven, hands-on approach to developing, acquiring, and operating experiential hotel properties. Source Strategies: A powerhouse in hotel feasibility and market analytics, Source Strategies has grown from humble beginnings as a pen-and-paper research provider to now holding 50% market share for hotel feasibility studies in Texas. Its recent launch of a real-time digital product is transforming how the hospitality industry accesses critical data. Mulberry Realty Partners: Our asset-class-agnostic commercial property management company integrates across industrial, retail, and other sectors. Mulberry allows us to maintain operational control, drive efficiencies, and enhance value creation across a diverse portfolio. Escalera Foundation: Formerly Presidian Cares, our nonprofit focuses on promoting health equity and early adult education for both Escalera associates and the broader San Antonio community. It is proud to spearhead impactful projects like Hope Lodge San Antonio, which provides housing and resources for cancer patients and their caregivers receiving treatment in the San Antonio Medical Center. With $400 million in assets under management and a vertically integrated structure, Escalera Capital is poised to lead with purpose, create lasting value, and continue making a positive impact across industries and communities. We are excited for this next phase and look forward to growing together! #EscaleraCapital #PurposeDrivenWork https://lnkd.in/gmYEHXf8

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This week Mikal Ventures brings you a 4-week breakdown of the non-US capital market with an emphasis on the Mikal verticals. Over the 4-week period ending May 29, a total of 1,545 new companies were added, with 101,688 companies included in the non-US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. The non-US AI Tech saw the greatest percentage growth in new companies for the period, weighing in at a notable 27%, nearly two times the overall vertical average of 15%. The non-US Heath Tech vertical led the group in transactions. Non-US Med Tech vertical lead in both SEC Filings and news articles. Mikal Ventures publishes these stats on a rolling 4-week basis to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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Mikal Ventures Annual Wrap-Up This week Mikal Ventures is pleased to bring you our year-long breakdown of the global venture capital market with an emphasis on the Mikal verticals. Over the 52-week period ending April 27, over 26,500 new companies were added. The market grew to just under 194,700 companies included in the Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. The non-US market saw the largest percentage of new companies added-- the group is trending at over an impressive 22% annual growth rate, with all of the non-US verticals seeing double digit growth.  The total deal count saw about 93% in North America and Europe and Asia at 6.2%. AI Tech saw the largest projected annual percentage of growth in new companies, weighing in at a notable 21% and 35% in the US and Non-US markets, respectively. A global annualized growth rate topping an estimated 28% shows a striking indication of just how active this vertical has become. The 52-week indicated transactions in AI Tech were impressive as well, with US, Non-US and global rates coming in at 22%, 26% and 24% respectively. The use of AI is ubiquitous--AI Tech saw about 35% of the patents filed globally across all 10 PitchBook verticals. We see horizontal flow and crossover impacts of machine learning technology in every vertical we follow. Fin Tech is seeing a spate of uses including risk assessment and workflow improvement. Med Tech boasts new drugs, drug delivery platforms and disease detection systems as well as significant advances in robotic surgery. Ed Tech companies such as Zhipu AI and Cohere Health have incorporated AI in their business productivity software for healthcare and science tech B2B audiences. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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