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  • August 2022 (Revised November 2022)
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Altos Ventures (A)

By: Jo Tango and Alys Ferragamo
  • Format:Print
  • | Language:English
  • | Pages:16
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Abstract

In December 2012, Altos Ventures General Partners Han Kim, Anthony Lee, and Ho Nam met to discuss the future of the firm. Altos had already adjusted its strategy multiple times. It began as a U.S.-focused venture capital investor whose first two funds were backed by a sole limited partner, a South Korean financial conglomerate. In late 2001, the partners made their first transformative decision, raising a fund from traditional institutional LPs to focus on bootstrapped technology companies. In 2008, Altos again refined its strategy, this time to fund similar capital-efficient companies but with more “explosive growth” potential. Now, in 2012, the firm was running out of capital and did not have the realized track record to raise another traditional institutional fund. They considered two options: raise a South Korea-focused VC fund or offer more co-investment opportunities to LPs through a “mini” fund. What should Altos do to stay afloat?

Keywords

Strategic Planning; Venture Capital; Investment Portfolio; Partners and Partnerships

Citation

Tango, Jo, and Alys Ferragamo. "Altos Ventures (A)." Harvard Business School Case 823-035, August 2022. (Revised November 2022.)
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About The Author

Jo Tango

Entrepreneurial Management
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Related Work

    • August 2022 (Revised November 2022)
    • Faculty Research

    Altos Ventures (B)

    By: Jo Tango and Alys Ferragamo
    • August 2022 (Revised November 2022)
    • Faculty Research

    Altos Ventures (A)

    By: Jo Tango and Alys Ferragamo
Related Work
  • Altos Ventures (B) By: Jo Tango and Alys Ferragamo
  • Altos Ventures (A) By: Jo Tango and Alys Ferragamo
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