To many investors, the term “down round” carries a negative connotation, but not for Notable Capital‘s Managing Partner, Hans Tung. Hans, previously with GGV Capital, now leads Notable Capital, a venture firm with investments in the U.S., Latin America, Israel, and Europe.
Hans, whose investment portfolio includes successful companies like Airbnb, StockX, and Slack, recently shared his insights on the state of venture capital in an interview on TechCrunch’s Equity podcast. He emphasized that in the long run, the valuation of a company matters more than short-term fluctuations, such as down rounds, stating that “An IPO is just a milestone, not the end game.” Data from PitchBook revealed that nearly 11% of VC deals in 2023 were down rounds.
Hans also discussed his optimism for the fintech sector and highlighted some areas within fintech that excite him the most.
The podcast delved into the recent changes at Notable Capital, formerly known as GGV Capital, which underwent rebranding to Notable Capital and Granite Asia for its U.S. and Asia operations, respectively. This transformation reflects broader shifts in the venture capital landscape, including changes at firms like Founders Fund, Benchmark, and Thrive Capital.
Tune in to the podcast to hear more insights from Hans on these topics and more. Equity releases new episodes every Monday, Wednesday, and Friday.
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If you prefer reading over listening, you can access the full interview transcript and archive of episodes on Simplecast.
