CFOs fear down rounds are coming

Plus, nonprofit startups: Not as strange or ill-fated as you may think November 22, 2023 Hi, {NAME}. Is your startup out of the “death zone” or does it have only 12 months — or less — of runway in the bank? A recent survey of startup finance execs finds the majority of those companies have more than a year’s worth of cash in the bank. But it also finds [two-thirds of those executives are worried about their ability to raise their next round of funding]( — or that they’ll have to take a valuation hit to do so. Plus, we look at the [continuing drama]( around [OpenAI]( and [Sam Altman]( and [the surprising number of startups that, like OpenAI, have unusual nonprofit corporate structures](. 🤔 [Nonprofit startups? Not as strange or ill-fated as you may think]( Following [the drama]( at [OpenAI]( this past week, it’s easy to get the impression that technology startups and nonprofit corporate structures make for a strange and messy combination. In reality, however, tech-focused enterprises that fuse a startup mindset with nonprofit governance aren’t especially unusual. 😱 [CFOs fear down rounds are coming]( While most still have more than a year of runway in the bank, two-thirds of finance execs surveyed by startup data-sharing platform [Startup Snapshot]( are also worried or very worried about their ability to raise their next round of funding. Guest author [Yael Benjamin]( walks through her company’s recent survey results and what they tell us about the health of startup finances right now. 😣 [OpenAI drama: Can it lure Altman back as investors threaten to sue?]( Almost all of [OpenAI]( employees threatened to quit unless the board reinstated [Sam Altman]( as CEO. Meanwhile, investors who put hundreds of millions of dollars into the highly valued generative AI startup are reportedly mulling litigation over Altman’s abrupt firing and the ensuing threat of a mass exodus. 🌉 [SF Bay Area’s share of startup funding hits multiyear high]( Startups in the San Francisco Bay Area captured 41% of the entire U.S. venture funding total this year — the highest share in years. What’s driving the boom? We have two letters for you: AI. Related Crunchbase Pro list: [San Francisco Bay Area Startup Funding]( ⛈️ [How VCs should invest in climate tech as sector keeps booming]( Overall venture funding [plummeted 35% in 2022 compared to 2021]( but cleantech investment increased nearly 30% between those two years, [according to Crunchbase data](. Given the sector’s continued growth, how should VCs be prepared to handle 2024? Investor [Egor Savvin]( of [Alfin Ventures]( offers some thoughts. 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