Josh Bilmes

Unlock the secrets to CFO compensation in the tech sector with our groundbreaking analysis. Discover how private equity tailors lucrative compensation packages to attract and retain the industry’s finest financial leaders. ▪ Lower-Middle Market: Base salaries are competitive, complemented by meaningful bonus opportunities and equity stakes that reward financial acumen and successful outcomes. ▪ Mid Market: Compensation packages are designed to reflect the financial management complexities of a growing tech firm, with substantial bonuses and equity options that align CFOs with the company’s financial health and success. ▪ Upper Mid Market: Offers top-tier salaries, significant bonus percentages, and equity stakes that scale with the CFO’s impact on strategic financial growth and company performance. Swipe through our carousel for a visual exploration of how CFO compensation evolves with company growth in the tech industry, brought to you by Christian and Timbers. For more detailed findings and to understand the implications for your business Read More ➡️ https://bit.ly/4hgCs5P #leadership #executivesearch #Csuite #CFO #compensation #tech

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The Florida Funders investment strategy is always informed by what’s happening in the market, using data like each quarterly recap from PitchBook to respond to changing conditions with agility. Here's Saxon Baum's review of 2024 Q1, with insights into the current state of the VC market, a shift toward profitability, early-stage investment and IPO trends, and Miami's role as a leading city in the venture scene. https://hubs.la/Q02vGtCx0

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Unlock the potential of the Lower Middle Market! 📈 Discover how executives can tap into the LMM to drive value creation, increase cash flow, and secure lucrative roles in private equity. Our latest guide, "Unlocking Value in the Lower Middle Market: A Numbers-Based Playbook for Executives," offers actionable insights and strategies to excel in this dynamic space. Don’t miss the opportunity to monetize your expertise and create new streams of income! 💼 Discover more about Blackmore Partners: https://buff.ly/42iNmB3 📅 Have questions? Schedule a meeting with our Director Chris Melton: https://buff.ly/46DZD46 #PrivateEquity #ValueCreation #LowerMiddleMarket #ExecutiveRoles #BlackmorePartners

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This is an insightful article from Fortune on fund manager activities in the Miami area. I had forgotten that mega $40 billion+ AUM venture capital fund manager Andreessen Horowitz opened up a Miami office amidst the historic South Florida hype era in 2022. It looks like the office was closed in May 2024 as the space was seldom utilized. This seems to be the case for many of the venture capital (and overall private markets) fund managers who came to Miami in the #hype era. Generally speaking, on the limited days I have been in the Miami area, many people I have reached out to at fund management firms are often traveling or not in the area, so this low occupancy seems to be the case across the board. As much as I love Miami and it's latin vibe and cultural diversity - it is nowhere close to replacing #NYC or the SF Bay Area, but I am encouraged in its increasingly developing role as a place for RIAs/Wealth Managers and family offices that are developing their investment activities in private markets and alternative assets overall. #alternativeassets #miami #southflorida #privatemarkets #fundmanagers #familyoffices #capitalmarkets #a16z #venturecapital #fundmanagers

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📈🏢 Aby Rosen's RFR Holding is facing a staggering $2.5B debt bill as defaults pile up! 💥 🔎 According to a recent Bisnow article, RFR Holding, a prominent NYC real estate firm, is grappling with mounting debt and defaults. The company, led by billionaire Aby Rosen, has a portfolio of high-profile properties, including the iconic Seagram Building and Lever House. 🏢🏦 📊 The firm's debt load has surged to a whopping $2.5B, with $1.1B in loans maturing this year alone. 💸 The pandemic has hit the commercial real estate market hard, causing defaults to skyrocket. RFR Holding is no exception, with defaults on several properties, including the $200M mortgage on the Seagram Building. 📉 🗣️ "The pandemic has created a perfect storm for commercial real estate," said one industry expert. "Companies like RFR Holding are facing unprecedented challenges as they navigate this difficult time." 🌪️ 🔜 So, what's next for RFR Holding? The company is reportedly exploring options to refinance its debt and avoid further defaults. 💡 With the commercial real estate market showing signs of recovery, there's hope that RFR Holding can weather this storm. 🌞 Stay tuned for more updates on this developing story! 📰🔔 #RFRHolding #CommercialRealEstate #Debt #Defaults #NYCRealEstate

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Summary: Keith Rabois, managing director of Khosla Ventures, is on a mission to turn Miami into the next Silicon Valley and has been actively promoting the city as a tech hub. Despite some challenges and opposition, Rabois remains optimistic about Miami's potential and the growth of its tech ecosystem. Key takeaways: Keith Rabois is determined to make Miami the next Silicon Valley and has seen progress with a growing number of seed investments in the city. Khosla Ventures, where Rabois works, has made multiple investments in Miami, including one into a startup aiming to "reinvent education." Rabois continues to split his time between Miami and San Francisco, but believes that Miami offers a better quality of life and potential for building a thriving tech community. Counter arguments: Some big name investors, such as Andreessen Horowitz, have pulled out of Miami, suggesting that the city does not offer the same opportunities as other established tech hubs. Miami still has a relatively small share of total U.S. seed investments (2.6%-3.5%) which may indicate a lack of resources and opportunities compared to other cities. #venturecapital

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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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Excited to be leading a workshop at the University of South Florida on October 1st, where I’ll be helping scientific founders and startups navigate the complex world of funding and investment strategies. For those who aren’t in Tampa, the event will also be available virtually! A huge thanks to the USF Chapter of the National Academy of Inventors and USF Technology Transfer Office for putting together this event. In this workshop, I'll cover: • Key investor types that can fuel your startup’s growth • When to approach each type of investor • Dilutive vs. non-dilutive funding: pros and cons • How to refine your pitch deck • Accurately valuing your startup • Confidently answering key investor questions Registration link in the comments below 👇

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PE Backed Health Care Transactions-Deal Structure Article Interesting Article on Deal Structures, we have sold a majority of the companies we represent to PE Backed organizations. The size of our transactions are typically structured as cash/holdbacks for a period of time, something our sellers prefer. Healthcare private equity update: McDermott Will & Emery released the firm's latest healthcare private equity market report this week, providing a readout on the final sector-specific deal trends from 2023. The firm’s data support the idea of a general trend toward more active deal structuring as buyers contend with choppy market conditions and work to bridge gaps in valuation expectations. Rollover equity structures jumped in popularity and are now used in more than 65 percent of all deals, up from just 38 percent in 2020. Larger deals are more likely to include a rollover component — only half of deals with headline values under $50 million had rollover. Though rollover incidence is growing, size has remained relatively steady. The average value of rollover as a percent of purchase price is now 28 percent, compared to 25 percent in the prior year. Deals with deferred purchase prices or earnouts have also become more common. Around 23 percent of last year’s deals used earnouts, up from 17 percent in 2022 and just 12 percent through the market’s peak in 2021. Earnout usage is up even within sub-verticals that have a stronger preference for upfront cash, like physician practice management. One-quarter of all PPM deals had earnouts last year, which is more than 2.5 times the number in 2021. Despite the market turbulence, seller notes have fallen further out of favor. The percentage of transactions with seller notes is now just 5 percent, less than half that of 2020, following steady year-over-year declines. Representation and warranty insurance adoption has ticked slightly higher, with 78 percent of deals greater than $50 million having RWI in 2023 vs. a 73 percent average from 2020 to 2022. Usage in deals less than $50 million continues to be relatively rare.  

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#PE An interesting trend, which I’ve highlighted a couple times now, is that while private equity’s new investments and exits have declined by 60% and 66%, respectively, since 2021, fundraising remains near its peak 2021 levels, creating a tricky situation where funds are raising more money from investors than they are distributing https://lnkd.in/d3yimbdX

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"By and large, the industry is still using a fragmented technology stack." Reyes Florez, CEO and Founder of Platform Accounting Group, outlines the state of accounting and tax tech on Tech Scenes Unplugged. #venturebacked #vcbacked #venturecapital #leadership #ceo #founder #operatingsystem #peakOS #foundermode

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With news of HPS Investment Partners, LLC discussing a prospective IPO, which alternative asset managers are next in line to cross the chasm to public markets? In this week's Alt Goes Mainstream AGM Alts Weekly, I highlight some of the attributes that indicate that an alternative asset manager could be on the path to a public offering and share a list of some that could go public. Silver Lake Vista Equity Partners Clearlake Capital Group General Atlantic Warburg Pincus LLC Ardian Bain Capital HarbourVest Partners Hellman & Friedman Thoma Bravo Advent International Insight Partners Clayton Dubilier & Rice Who is next in line for an IPO? Read this week's AGM Weekly brought to you by Intapp (Intapp DealCloud ) for thoughts on how firms can go public: https://lnkd.in/eVrveeEt

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Great analysis of recent #vc trends. Thank you Kaela Roeder and Technical.ly for including my thoughts in the piece. My "expanded" two cents below for anyone curious... It is easy to get excited by what is happening in venture capital these days given the advent of AI. However, for early-stage startups, the numbers tell a more nuanced story. Early-stage deal volume in Q4-2023 was down 66% from the peak (Q4-2021) and a quarter of the deals were down rounds. In 2024, volumes stayed fairly flat relative to 2023 levels (signalizing a normalization to pre-pandemic VC activity) and 32% of deals were down rounds in Q1 (a worsening since year end). Early-stage valuations have spiked back up this year – a pleasant boon for some founders. But, this inflation is largely driven by the excitement around AI and strong demand for capital-efficient, high-growth companies. Many startups have tried to become “dot AI” businesses overnight; however, such tactics are not the “silver bullet” to fundraising challenges and growth. With limited time and capital, funds are on the hunt for companies with bulletproof fundamentals or those with exponential growth potential. If you don’t check one of these two boxes, the VC world looks fundamentally different for you. Locally, there are some positive tailwinds. The D.C. area has outpaced other metro areas in adding AI jobs due in large part to the defense industry and an increasing number of tech companies opening-up federal outposts. Over the long-term, this will be very positive for D.C. startup growth and talent.

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I recently had the pleasure of speaking with and learning from several software execs from our portfolio companies and industry experts during Thoma Bravo's AI Summit in Miami. It was great to share our insights into trends and practices we see in our portfolio and how we manage opportunities and risks. At TB, we have a long history of guiding enterprise software companies through digital transformation, and we’re already navigating the transition driven by generative AI. Our focus is on managing this new innovation by absorbing the technology to bring meaningful benefits to our portfolio companies and indirectly to their customers. And it’s evolving fast! We see our portfolio companies today using gen AI in generally three ways: first, to create new products and provide customers with incremental use cases. Second, to defend against cyber attacks that have become much more sophisticated by bad actors. And third, as an enabler of talent to make business operations run more efficient and productive. In our view, AI presents a significant growth opportunity, but we also believe that to really maximize that potential, companies should carefully evaluate the risks and be thoughtful about governance, trust, security and data privacy. AI is poised to accelerate innovation and it’s hard to predict the full, transformative potential of AI, but we are confident that some of the advantages of incumbent knowledge and data will be key to unlocking its value.

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According to our Q2 2024 Private Market Fundraising Report, private capital fundraising is showing signs of recovery. When accounting for pending data, we're on track for approximately $1.7 trillion in fundraising for the year—a significant rebound and the best result in nearly two years. Notably, General Partners (GPs) focusing on secondaries and real assets are seeing improved results. However, challenges persist in sectors like real estate, venture capital, and funds-of-funds. Venture capital vehicles are experiencing longer closing times, and emerging managers face a tough landscape with more selective Limited Partners (LPs). Overall, while private fundraising is gaining momentum, it remains a dynamic and evolving space! #PrivateCapital #Fundraising #VentureCapital #PrivateEquity #Finance

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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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Miami F1 did not disappoint, with all sorts of legendary entertainers, investors, and even scientists descending on Miami to see who could throw the best party of the week. I was fortunate to receive an invite to a party on the legendary 180-foot Gene Chaser, the support vessel for the floating laboratory, Gene Machine, which carries all the toys. The owner, best known for his contributions to next-generation DNA sequencing, was a fascinating person to meet and get to know. This yacht was the fastest in the marina, equipped with four Caterpillar engines reaching a top speed of 22 knots. It was also the most traveled last year, visiting places like Antarctica and Singapore. Fun Fact: This boat isn’t allowed in St. Barts because the intense heat from its exhaust could melt other yachts. My favorite part was trying out all the hardware, especially the first-ever portable brain MRI that will soon be going into space. This was probably my favorite event of the entire weekend. https://lnkd.in/eRF6Z7RN For specs on the boat, click on the link here: https://lnkd.in/eP7bnYtr #MiamiF1Experience #GeneChaserYacht  #NextGenSequencing #PrivateInvestmentLuxury #FamilyOfficeEvents #SuperyachtScience  #InnovativeInvestors  #LuxuryAtSea  #TechOnDeck #AdventureYachting

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Raising Private Capital: Tips For Startups In Today's Market Jeff Bartel , is chairman and managing director of Hamptons Group, a private investment and strategic advisory firm headquartered in Miami. Private capital activity has increased in recent years. For startups, raising private capital offers financial support for development and innovation. Our firm's capital raises have included obtaining capital through funds and direct investment. Drawing from that experience, here is a look at the current private capital landscape and strategies for successfully raising capital. The Current Private Capital Landscape Private capital includes venture capital, private equity and other investment funding sources, where venture capital can help drive technological advancement through industries such as biotech, fintech and artificial intelligence. Mature companies are a primary focus for investors interested in raising private equity capital to inject funds for strategic initiatives, acquisitions or operational improvements. Private capital markets attract a large amount of their investments from institutional and high-capital investors. This focus stems from the flexibility in private capital transactions and the possibility of higher returns over more traditional investments. https://lnkd.in/dU3-E-Vp By Jeff Bartel Repost by Salem Bagami Managing Director 2080 Ventures Email: [email protected] Website: www.2080.ventures

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The SomosVC 2023 Annual Report is out! Key findings of the report include: 👉 79% of venture funds over $100 in AUM have no Latino/a investment professionals at all. 👉 Latino/a's represent only 1.6% of all investment professionals at funds over $100M in AUM 💪 Latino/a led firms are more likely to invest in diverse founders - 48% of portfolio company founders identify as underrepresented people of color. 💪 Latino/a-led firms in the SomosVC community have played a pivotal role in job creation, with investments leading to an estimated 51,612 new jobs. Learn more about the report in this Axios piece! https://lnkd.in/e4d58sNd

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