Anyone know anything about Tidemark’s associate program - curious about culture, comp, fund size, early track record, etc.
I know Dave Yuan has a great reputation from his TCV days but have also heard some of their earlier investments like Karbon haven’t done that well
Would be great to get people’s thoughts given a newer fund
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Bump
Bump - any info on culture / comp?
Bump - curious about this as well. Any info on investing strategy? Purely minority growth or do they do buyouts?
Based on their website it's all minority growth, but I've spoken to a senior who works there and they're open to doing LBOs. Given its former TCV, I'd expect ~90% to be minority growth and ~10% to be LBO (mostly co-invest with the occasional sole sponsor deal)
Is there any more recent news? The Karbon info is interesting… not sure how that happened.
What happened with Karbon?
Returns are totally ass. Negative IRR, they don’t know what they’re doing.
Source?
This guy doesn’t know what he’s talking about, it’s a top player in vertical market. Toast, ServiceTitans etc are IPO exits, Clio seems next up after huge acquisition couple months back, extremely respected player in this field. Seems poised to raise again and definitely not negative IRR.
Source: person who works there. Just asked and 2021 fund recently crossed to be positive 1% IRR
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