Tom Dyal Quotations

There is a gold rush going on out there like the one in 1849 and everyone is afraid of not being part of it. No one wants to say that they took an extended vacation then.

The amount of money it takes to get a company to the IPO stage is larger than it used to be. It used to be a $2-$3 million initial investment and $8-10 million over the life of the company. Now it's more like $15 to $25 million over the life of the company.

If you look back at the companies we decide to fund, we generally felt really excited about them right after that first meeting. While we might find a reason not to invest after doing more research, it's rare for us to fund a company we were ambivalent about after that initial contact.