IVCA Preview: Dan Malven, Managing Director of 4490 Ventures and Moderator at IVCA Spring Event on May 6, 2021

April 14, 2021

The annual IVCA Spring Event will be virtual/online, and will take place on May 6th, 2021 (click link below for details). Sponsored by the firms Baker Tilly, Ropes & Gray and CIBC, the program will feature Professor Steven N. Kaplan of The University of Chicago Booth School/Polsky Center for Entrepreneurship and Innovation, speaking on the topic “PE & VC Returns since 2010 … and Outlook for the Future.”
After Professor Kaplan’s presentation, he will sit with a distinguished panel of experts to discuss the topic further. The panel features Joanna Rupp (Managing Director of Private Equity at the University of Chicago) and Tobias True (Partner at Adams Street Partners). The panel will be moderated by Dan Malven, Managing Director of 4490 Ventures.
As Managing Director at 4490 Ventures, Dan Malven offers a blend of Venture Capital investing, startup operational and corporate executive experience. Mr. Malven has been investing in early stage start-ups for over 20 years, and has been a co-founder of three VC backed software companies … serving as technical, code-writing founder of the first two, and the founding CEO of the third. He has an MBA from the Kellogg School of Management at Northwestern University and a Bachelor of Science in engineering from Purdue University.
Dan Malven offers his perspective as Moderator for the upcoming IVCA Spring Event, with the following preview …
IVCA:What can attendees of the 2021 IVCA Spring Event expect in the discussion surrounding Dr. Kaplan’s speech, on the broad topic of PE/VC returns since 2010 and a look toward the future?
Dan Malven: The new research is quite exciting for the VC industry. It will show that returns have been much stronger, and distributed across more firms, than has been previously understood. It will also show that despite record-breaking VC fundraising, the VC industry is not over-capitalized relative to historic ratios, which bodes well for future returns. On the PE side, the data is a bit more mixed. PE has been a high-performing asset class for a long time and will likely remain that way, but there are more headwinds than there are for the VC industry.
IVCA:The pandemic had throw virtually every corner of commerce in new directions and process techniques. How will that apply in the discussion of PE and VC in that context?
Malven: The effects of the pandemic will not be included in the look-back on historical returns. The future outlook will be discussed, but as with all things pandemic-related, it will likely take several years before the impact is really known. But the panelists will certainly be offering their opinions.
IVCA:In gathering the expert panel, what in their backgrounds will provide a diversity of opinion on the topic?
Malven: Dr. Kaplan balances between VC and PE in his research, whereas Joanna Rupp is a VC expert and Toby True is a PE expert. I operate exclusively in the VC world. We’ve all been at this for a long time so we’ll each have a lot of historical analogies and anecdotes to pull from. I think we’ll have a very lively discussion.
IVCA:In your point of view, how best does a look back at the past provide that ‘outlook for the future’ and in what sense do past indicators become evidence of unpredictability?
Malven: As Mark Twain famously said, ‘history doesn’t repeat itself but it often rhymes.’ The past indicators won’t play out exactly as they have in the future, but there will be similarities. I think this panel will do a good job of discerning what part of the past will ‘rhyme’ in the future.
IVCA:Finally – especially in talking to new IVCA members – how does this 2021 spring event provide value for the attendee and an opportunity for membership interaction?
Malven: Joanna and Toby are two of the most sought-after LPs in their respective industries. Even top-tier VC and PE managers struggle to get even 30 minute meetings with them. Here’s an opportunity to be part of an in-depth discussion of the past, present and future of the VC and PE industries and have them answer your specific questions in the Q&A session. Only by being part of an organization like the IVCA do you get an opportunity like this.
For more information and to register for the 2021 IVCA Spring Event, “PE & VC Returns since 2010 … and Outlook for the Future,” click here.