Sramana Mitra: How do you parse unicorn mania? Mackey Craven: By unicorn mania, do you mean the number of companies that have billion-dollar plus valuations that are still private? Sramana Mitra: A lot of things. There’s unicorn mania in that there’s so much capital. There is a rush to fund these later stage companies and
Sramana Mitra: There’s another dynamic, which is a lot of these seed stage investors who are working in the very early stages are exiting into those kinds of mega rounds that come in Series B and C. That is a very healthy trend because I think these two segments are different. It could take a
Sramana Mitra: You’ve been investing for a while. Let’s look at your 2017 deal flow. Give us some flavor of what trends you are seeing. How many deals do you see in a year? How many do you invest in? What are the highlights of the trends in that deal flow? Let’s just focus on
Sramana Mitra: It also gives you a flavor of how good a product it is. Is the product really meeting the needs of the customers? I think churn is a very good indicator of that. Mackey Craven: Coming back again, it really doesn’t have to do with revenue scale. It has to do with validating
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Mackey Craven of OpenView Venture Partners was recorded in January 2018. Mackey Craven, Partner at OpenView Venture Partners, discusses what Series A VCs are looking for in the realm of software investments. We talk