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To some traders, “down spherical” is a unclean phrase, however to not Notable Capital’s Hans Tung. Hans is a managing associate at Notable Capital, previously GGV Capital, a enterprise agency specializing in investments within the U.S., Latin America, Israel, and Europe.
Hans, whose portfolio contains the likes of Airbnb, StockX and Slack, sat down with TechCrunch’s Fairness podcast to debate the general state of enterprise and why he nonetheless believes down rounds could make numerous sense. Per Hans, “An IPO is definitely only a milestone, not the top recreation. An IPO is the start of public traders being alongside for the experience. So if you assume in longer-term valuations, up or down quickly doesn’t matter as a lot as producing a giant end result on the finish.” It’s price noting that by September 2023, practically 11% of the yr’s VC offers have been down rounds, in keeping with PitchBook knowledge.
Hans additionally tell us why he’s nonetheless bullish on fintech, and what sectors within the fintech area have him particularly psyched.
After all, we dug into latest adjustments at his personal agency, which advanced from 24-year-old cross-border agency GGV Capital and rebranded its U.S. and Asia operations to Notable Capital and Granite Asia, respectively. GGV’s transformation is the most recent in a string of adjustments we’ve seen on the earth of enterprise capital, together with personnel adjustments at Founders Fund, Benchmark and Thrive Capital.
Hit play to listen to what Hans has to say on these matters and extra! Fairness might be again on Monday. See you then!
Fairness is TechCrunch’s flagship podcast and posts each Monday, Wednesday and Friday. You possibly can subscribe to us on Apple Podcasts, Overcast, Spotify and all of the casts.
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For the complete interview transcript, for individuals who want studying over listening, try our full archive of episodes over at Simplecast.
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