Wannabe Artist | Banker @SVB_Financial | @Columbia_Biz Alum | Proud Cleveland/OSU Sports Fan
Chicago, IL
Joined May 2011
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- Following995
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Jigar Patel retweeted
I lived in a motel from 4th grade until I went to college.
On the one hand, I was the only kid in class with an indoor pool.
On the other, we lived in a motel 😅.
7 days a week my parents covered the desk, housekeeping, laundry, breakfast, and everything else.
On the weekends me and my two sisters would help make beds. Scrub bathrooms. Fold towels.
If I had a soccer game on a Saturday, I would clean rooms before, play the game, and help when I got back.
It didn't feel fair at the time. But even as a kid, I understood how hard my parents worked to give us a good life.
I always had a roof over my head. I was never hungry.
Maybe it’s a cultural thing, but I don’t separate my success from my parents. Everything I’ve accomplished is because of them.
My dad didn’t graduate high school, my Mom never went to college.
But I got a Masters from Carnegie Mellon.
I got the grades and the scholarships, but they instilled the right values for me to win.
I’ve made my share of mistakes, but I’ve also knocked some shit out the park.
I’m proud to say I didn’t get there alone, and my family would say the same thing.
Cheers to all the strong families out there and everyone building their own!
Proud of you, brother. Can’t wait to see the next Hotel Pom!
America has over 100,000 hotels and motels.
My family owns 2 of them. They came here with nothing, now they are millionaires.
How did they do it?
Worked like dogs for 22 YEARS.
Lived modestly. Never racked up credit card debt. Understood that leasing a car is great way to set cash on fire.
Put 3 kids through college. Bought a modest house.
I'm grateful for everything they sacrificed.
But dang, 22 years and only 2 hotels?
My dad ran one, mom ran the other. How could they run a third?
I made a spreadsheet in 5th grade to help my mom do payroll faster.
I told her we could save time and give to the accountant. "why pay them when I can do it?"
She used it until I took over 😄
In two years I was able to retire them both.
Just for that I'm already stupid proud. But that's not enough.
I'm on a mission to grow. Doubled revenue location #1. Full steam to deflag and reno location #2.
Building a bad ass regional independent hotel brand in Iowa.
Wouldn't it be easier to shack up with a franchise? Yes.
But guess I'm a bit stubborn like my mom. Why pay them when I can do it myself?
Jigar Patel retweeted
I'm encouraging our portfolio companies to keep their money at SVB, & encourage you to do the same.
It's the safest place to put your money - fully guaranteed with no $250k limit.
We (tech/VC's) really need SVB & have a real chance to bring it back or find a friendly home.
Jigar Patel retweeted
Population density thread because you and I both know you have nothing better to do.
Let's start with this cool way to visualize population density, by @undertheraedar. The height of each spike displays the population density in that location.
Emerging managers/GPs, check out the latest article from @NatalieFratto on data room best practices, according to LPs.
svb.com/emerging-manager-ins…
Jigar Patel retweeted
The @SVB_Financial + @AngelList State of Early-Stage Venture report just dropped!
Some high-level takeaways:
-valuations way up
-web3 + fintech lead the way
-more funding backing female-led cos
Some of the best charts below 👇🏼
Jigar Patel retweeted
Guessing that right around now is the time in the cycle that younger VCs will learn that there can be a huge gap btw unrealized values/mark-ups and actual returns/DPI. Mark-downs, lack of secondary buyers, no exit in sight are realities of the business. Winter is here/coming. 😊
Excited to share @SVB_Financial's latest #FamilyOffice report. Despite current market volatility, with 24% avg. IRR in '21, there's still plenty of interest from FOs to invest in venture, esp. specialist VC funds and ESG/impact-oriented opportunities.
bit.svb.com/33ZUKXG
Jigar Patel retweeted
Best wishes for 2022 everyone! 🎉
As we enter the new year, I wanted to share a bit of LP perspective.
We all know the venture market was on 🔥 in 2021, but how is that actually manifesting and what does that mean for how the proverbial table is being set for 2022?
Jigar Patel retweeted
🥳 It's a happy start of the year for the LaaS Community! @SVB_Financial, the bank of the world's most innovative firms and their investors, is a @thelaasco sponsor for Q1 2022!
Jigar Patel retweeted
.@SVB_Financial is en fuego! Congrats on a great year of growth to my friends Greg Becker, @JohnChinaSVB, et al. bankingdive.com/news/svb-boo…
Jigar Patel retweeted
“So far this year almost $600bn has been deployed in deals—TEN TIMES the level of a decade ago.
What once was an American affair is now a global one, with 51% of deals by value in 2021 happening outside America.”
The venture-capital industry is being supersized. There are risks—but it is also a chance to make the industry bigger and better. Our cover this week econ.st/3nOFlRv
Jigar Patel retweeted
I think about this scene from @SiliconHBO all the time when founders are raising:
"If you show revenue, people will ask how much and it'll never be enough"
-Russ Hanneman
Jigar Patel retweeted
Our team is hiring at @SVB_Financial in NY!! Come join us: medium.com/@jakemendel/svb-i… We are so excited to grow with the NY tech ecosystem and you will be in the center of gravity on our startup banking team. Please DM me if you're interested.
Jigar Patel retweeted
I’ve done over $1M in income in 2 years as an entrepreneur.
And I didn't write a single line of code.
My 12 "must use" no-code tools:
[🧵 thread}
Jigar Patel retweeted
In the early stages of the life cycle of a fund, the most frequently used performance metrics (MOIC, TVPI, DPI, IRR) may not be very reliable...
So what are the key VC performance metrics beyond just common multiples?
bfp.vc/vc-performance-metric… by @marcocsolinas
Jigar Patel retweeted
Curious what LPs think of VC performance and the recent run-up in returns?
Based on the conversations I've been having with LPs recently, this post from February is equally if not more relevant today.
Jigar Patel retweeted
Hey GPs - In the last few weeks I’ve had multiple asks about emerging manager benchmarks/what we are seeing for 2019 (and other recent) vintages.
So here’s a quick 🧵 breaking down what we see in the case of 2019 venture funds and the greater LP context…
#OpenLP