My last IVA conference was 3 years ago, back in Spring 2006. Since then, A lot has changed for me personally, mostly on the gain side (gain more companies, and probably more weight). Still, everything looked very familiar at the 2009 IVA today, and pretty much as expected. In other words, business as usual
Why do I say that? It was pretty much the same ritual, entrepreneurs looking for money, VCs discussing existing deals and some new deals. We had guests from the US and Europe, journalists writing and taking pictures, and even some active twitter postings. Overall, the eco-system is holding up, and the game continues. Same as last year, and the year before. But all this was on the surface. In reality, a lot of things were different.
Entrepreneurs: For the Entrepreneurs, this IVA was the best so far. After many years, they got the center stage. The usual (and very boring) VC panels were replaced by company presentations. So refreshing. I hope that the companies that presented got real value from these presentations, and that this format will survive for next year.
VCs: For us, it is almost like nothing happened. Most VCs have fresh money, there is good deal flow, and a lot of VCs are back in action, so follow-on rounds have a better chance of happening (compared to 3-4 months ago). However, the problems of the VCs are not now. Our problem is in the medium-long term. When will exits return? Will our previous (and new) investment be realized in good value before the next fund-raising cycle?
LPs: Did anyone see LPs? There were a few LPs, but overall, we didn’t see the reps of the global pension funds land in Israel for the IVA. This is due to their own problems. Also, I am not sure LPs were present in the past, so maybe this is the normal state.
Finally, it seems we have a new tradition. Last year (I did not attend) Tim Draper sang in front of the audience. This year David Cowan played a Naomi Shemer song on this iPhone. I can’t wait for next year – how about John Doerr live on guitar hero.
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