Despite an initial surge in COVID-19 cases and deaths in the beginning of the year, it is reassuring to see numbers for both decrease to more manageable levels. With the majority of the world vaccinated (upward of 64%), we see a loosening of COVID-19 restrictions across the board.
After closing out this rollercoaster ride of a year, we are happy to announce that 2021 proved to be successful for Ikove, despite the significant economic, political, and health-related turmoil affecting most of the world.
Q3 2021 has seen the continuation of higher-than-average levels of inflation, along with a slowdown in economic growth. Some fear an environment of stagflation is at hand, but given the record levels of funding and liquidity, we expect this impact to be temporary as supply constraints eventually ease due to the Pandemic.
The US has entered a new phase of the pandemic with President Biden just missing his target of 70% of adults getting at least one dose of the vaccine by July 4th. Hard hit states like New York have reached over 50% vaccination rates while other states, particularly in the south, having a slower pace of vaccinations and are lagging significantly.
The COVID-19 pandemic entered a new phase, it has now become a race between vaccinations and new cases. With 31 million reported cases in the US and 555 thousand deaths, the race to vaccinate and reduce the impact of new variants is crucial.
The COVID-19 pandemic has proven relentless, and unfortunately, our worst fears have materialized. Since bringing infections somewhat under control during the summer, we started to see a resurgence towards the end of Q3 and into Q4.
As we enter the last quarter of 2020, the US and the world have crossed grim milestones with COVID. With over eight million cases in the US and thirty-nine million worldwide, and over two hundred thousand deaths in the US and over one million worldwide, the human price of this pandemic is mind-boggling.
As Q1 2020 is behind us, we are writing this update from our homes. It is hard to believe the events that have transpired and the huge impact they have had in our day to day lives. With over 4 million people infected globally, and over 272,000 deaths, our thoughts, and prayers are with all impacted.
With Uber ready to debut as the third largest tech IPO in the US, 2019 is shaping up as a breakout year for tech as funds unload into the public markets with a significant number of IPOs. The last time this kind of a bonanza occurred, Wall Street was partying like it was 1999, because it was.
Key Top-Down Technology Macro Themes and Ikove's Bottom-Up Technology Selection Process
As part of our investment process at Ikove, we look closely at core, top-down technology macro themes that we believe will reshape society and the way we live. We match this macro view with bottom-up research to identify the best technologies that will fit within these evolving trends.
Every entrepreneur will face this question at some point in the cycle of their business: Does it make sense to pursue outside capital to accelerate the growth of my business or do I go at it alone? With few exceptions, especially in deep technology businesses, startups are able to generate enough early-stage revenue and cash flow to be self-sustaining and rely on a well-defined investment hierarchy and funding process.
The Search for Alpha: What Drives Strong Performance In Illiquid Investments
All asset allocators suffer from a similar conundrum: Do I sacrifice liquidity to try to achieve greater returns? The fact remains that managers should match their assets and liabilities. The so-called liquidity mismatch was greatly exacerbated during Q3 and Q4 of 2008 and Q1 and Q2 of 2009, when managers were hit with billions in redemptions and caught unprepared, as their positions became illiquid.
State Of Early Stage Funding And Technology Commercialization
Overall, numbers for the VC industry are healthy with total funding on track for a strong year. Deal $ volume is on track to surpass $100 billion, with a strong showing of funding in later stage and so called Unicorns funding with $1 billion plus valuations.
The last quarter of 2017 proved to be a strong and fruitful end to the year for Ikove. As shown below, Ikove and the portfolio companies achieved many milestones throughout the year capped with the majority of successes in Q4.
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