Posted on nineteenth February 2024 by Harry
Roger Ehrenberg is a legend of the enterprise trade because the Founding father of IA Ventures, among the many most profitable seed-stage enterprise companies of this era, having seeded firms together with Datadog (NASDAQ: DDOG), Digital Ocean (NYSE: DOCN), The Commerce Desk (NASDAQ: TTD) and Sensible (LSE: WISE.L). At present Roger is the Founder and Managing Companion of Eberg Capital, a pioneer in bridging the hole amongst sports activities franchises, sports activities betting, media and leisure. Roger’s present sports activities investments embody stakes within the Miami Marlins, Actual Salt Lake, Alpine Racing, Betr, Commonwealth, Kero Sports activities, Simplebet, SlamBall, Smarkets and WagerWire.
In At present’s Episode with Roger Ehrenberg We Talk about:
1. The Commoditisation of Enterprise and Worsening Returns:
- Why does Roger disagree with Doug Leone that “we’ve moved from a boutique excessive margin enterprise to a commoditised low margin trade”?
- Why does Roger consider we’ll see constantly worsening returns in enterprise?
- Is that this inflow of LP capital cyclical or is it right here to remain?
2. The New LPs and The Damaged Current LP World:
- Why does Roger suppose the prevailing incentive construction for LPs is completely damaged?
- Who’re crucial new LPs getting into the enterprise market?
- How do sovereigns and pension funds getting into enterprise change the trade?
- Which gamers have capitalised on this new LP class finest?
3. The place Does the Liquidity Come From:
- With the closed IPO window and lack of M&A, the place will liquidity come from within the subsequent 24 months?
- Would a Trump administration open M&A markets? Does Roger agree M&A markets are shut down?
- When does Roger consider IPO markets will open once more? Will Databricks and Stripe exit in 2024?
- If Roger have been to run a continuity fund technique, how would he construction it? What would he do?
4. When to Promote and When to Maintain:
- How does Roger advise managers on when to promote vs when to carry?
- How vital is it for a brand new agency to have an organization go public within the first 5 years?
- What are Roger’s largest classes from promoting The Commerce Desk at a $2.5BN valuation?
- How does Roger take into consideration managers pondering they need to handle the general public e-book of their portfolio for his or her LPs? What are the professionals and cons?
5. Relationship to Cash:
- Do wealthy traders make higher traders? How does investing when you’ve a number of money already change your mindset round investing and exiting?
- How does Roger analyse his relationship to cash right this moment?
- What have been the one largest needle movers in his wealth journey? How did it really feel when he made a $6M bonus?
6. The Secrets and techniques to Parenthood and Marriage:
- What does it imply to be an important father for Roger?
- How does Roger take into consideration bringing his youngsters up with the identical stage of starvation and ambition, regardless of being introduced up with such wealth?
- What are Roger’s two largest classes on the key to an important marriage?
