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Marina Temkin

Financial Writer

Marina Temkin covered the venture capital ecosystem from 2021 to 2024, based in San Francisco. Previously with Venture Capital Journal, Marina wrote about the VC industry, and she was a reporter with Mergermarket in New York and San Francisco. She also has been a financial analyst and is a CFA charterholder. Marina received an economics degree from the University of California, Davis, and she attended the CUNY Graduate School of Journalism.

ARTICLES BY CURRENT AUTHOR

Why early-stage biopharma valuations have surged

Biotech investors become choosier during market downturns, paying higher prices for fewer companies.
LPs

Q&A: Hamilton Lane managing director on VC secondaries boom

Hamilton Lane is raising $5 billion for its sixth secondary fund to buy all types of PE and VC secondary assets.

VCs sacrifice future gains for cash amid IPO dry spell

Some investors are selling stakes in their best companies at significant discounts

VC distributions sink to 14-year low

By at least one measure, distributions haven’t been this low since the days of the global financial crisis.

SoftBank’s Vision Fund roars with $4B gain; Arm lockup nears end

The Japanese conglomerate’s tech investment arm reported a $4 billion gain in the last three months of 2023, the division’s largest quarterly return in almost three years.

M&A of seed-stage startups outshines mature companies

2023 was a dismal year for VC-backed M&A, but it wasn’t as bad for seed-stage startups.
IPO

Biotech IPO surge sparks hope for tech offerings

The IPO calendar for biotech listings has filled up. Will tech companies follow suit?

How to fire a VC

‘Elegant exits’ and passive-aggressive signals trump layoffs in VC land.

VC-backed M&A spoils predictions, falling to decade low

VCs and market participants have been predicting an uptick in M&A activity, but fewer startups were bought in 2023 than in any year over the past decade.

Quantum computing deals hit record count in 2023

Investors hope quantum computers can one day perform calculations at tremendous speed and power AI model building.

Reporter’s notebook: Muted deals, weight loss drugs, AI at JP Morgan Healthcare Conference

Healthcare’s largest industry conference was bereft of major deal announcements and solid indications of IPO plans.

VCs love the idea of continuation funds. Here’s why there aren’t more of them.

Continuation funds are gaining popularity because they provide options for LPs at a time when meaningful exits may still be a ways away.

38% of VCs disappeared from dealmaking in 2023

OpenView wasn’t the only firm to depart VC this year. The number of active VC firms plummeted 38% compared to the same period last year, PitchBook data shows.

Leaders and laggards: How startup verticals fared in 2023

Defense tech led and ecommerce lagged in PitchBook’s 2023 battle of the VC verticals.

IPO outlook improved, but listing will remain a slog for startups

While 2024 IPO activity will likely exceed this year’s, investors and advisors are not anticipating a wave of new offerings.

Why hedge funds are packing up and leaving VC

Hedge funds face repercussions for their forays into venture capital as LP withdrawals force a strategy shift.

OpenAI tumult, FTX blowup help bring VC governance back in vogue

VC investors were willing to forgo board representation during the later years of the bull cycle. That’s changing, thanks in part to some cautionary tales.

VCs chow down more equity in recent financing rounds

As valuations decrease, the same check size can buy VC investors a larger equity stake in a portfolio company.

Mobility tech VC funding steers toward 6-year low as electric vehicle stocks limp

Venture capital investment in mobility tech—including electric vehicles, self-driving technology, fleet scooters and delivery robots—has plunged after flourishing in the bull market.

Altman’s ouster from OpenAI spooks secondary investors

Around $100 million worth of interest in OpenAI shares on secondary marketplace Caplight evaporated over the weekend after its board terminated CEO Sam Altman.

Menlo Ventures raises $1.35B to ‘play offense’ on AI investing

Menlo Ventures’ early AI bets helped the firm raise $1.35 billion for early-stage and early-growth funds.

4 charts: Stagnant VC valuations fail to spur discount investment spree

More than a year and a half into the VC industry downturn, there are signs that valuations have hit bottom. But VCs have yet to ramp up bargain hunting.

3 theories for Sequoia’s gravity-defying fund marks

Sequoia has largely bucked the trend of double-digit fund markdowns. Valuation experts weigh in with theories on how the VC giant might have done it.

Sizing up the boom in defense tech

Recent wars and rising tensions with China have highlighted the Pentagon’s ongoing need to retool its arsenal with the latest technologies. VCs increasingly believe startups will play a meaningful role in these innovations.

M12’s new head on OpenAI, its new strategic focus and secondary sales

M12 announced a significant strategy shift to prioritize strategic investments earlier this year.

Modest a16z fund step-up ratchets back years of breakneck asset growth for VCs

Andreessen Horowitz is gearing up to raise $3.4 billion for its next early-stage fund and seed fund, a 17% step up from its previous pair of vehicles.

Exclusive: Sequoia marks up funds, defying VC rout

Despite its recent troubles, Sequoia marked up 15 out of 19 funds held by UC Regents by an average of 9.2%.