Thoughts on Redpoint ventures?
Saw a job posting from Redpoint ventures. Don't know much about them except that many consider them a strong VC firm. Any thoughts from the community?
This post, albeit old, suggests they had a rough start
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It's an old firm, funds I and II had IRRs of -2% and 5% respectively. Fund III portfolio looks weak too.
Also a red flag that they are conducting a public hiring...
How have they managed to raise bigger funds with such terrible irrs?
I wouldn't say a public job listing is a red flag - Sequoia, a16z, Bessemer, Insight, Thrive, Matrix, USV, FirstMark, TCV, and IVP (and I'm sure missing some) have all, at some point or other, advertised open investment team opportunities.
With regards to Redpoint - they're on their 8th early-stage fund, I think you're referring to their previous growth funds? They have some good portfolio company logos (Snowflake, HashiCorp, Root, Stripe, etc.) but I have no clue what their fund performance numbers look like. I know they're pretty respected within the VC community though.
I will preface by saying that I agree with most of what you are saying, especially that Red Point is respected, and so I will "walk back" the tone of my initial post and say that while returns have been piss poor, they do have flagship investments that allow them to continue to raise (you could raise off a Snowflake investment until the grave).
I know that many of those you listed don't advertise publicly anymore. USV does, but they always scour the earth for odd (but extremely impressive) candidates that would not be plugged into typical recruiting channels. Sequoia has only recruited for China roles publicly in recent years as far as I am aware and I know on good information most hiring is word of mouth. A16Z does, but again for odd roles (they are hiring someone for a biotech team, for example). TCV and IVP both use recruiters; IVP even hires on-cycle-ish. Insight did so recently for Onsite but they hire on-cycle for their buyout team and rarely for other teams; when they do hire for other teams, it is word of mouth, and because a partner has "an idea" that would require a headcount expansion. Bessemer does public. Thrive has done public (not sure if they still do; it has been more than an "Associate cycle" since they posted online, but maybe they don't even have "Associate cycles"). I don't know about Matrix or FirstMark. To add a few others, Bond does not hire publicly, nor does Lightspeed, FF, or Benchmark; for the latter, I hear you have to share board membership before you are invited to join their firm.
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