VC firms are aiming for $100 billion-plus exits within the next 10 years, according to SaaStr founder Jason Lemkin. Lemkin highlighted this shift on June 21, noting that while billion-dollar outcomes were once rare, the current goal for many large venture capital firms is to achieve $100 billion or more in returns, with some even targeting $1 trillion valuations.
Lemkin contrasted today’s ambitions with the early days of B2B software, when companies like Salesforce were valued at around $2 billion and IPOs such as Box, HubSpot, and Zendesk hovered near $1 billion. He emphasized that having multiple companies reach these massive valuations is no longer an anomaly but a growing trend. Lemkin pointed to several firms achieving 5 to 10 times the $100 billion target, indicating a pattern rather than isolated successes.
This trend reflects a significant evolution in venture capital expectations, moving beyond the traditional billion-dollar mark to much larger outcomes. Lemkin cited examples like Anduril, which demonstrates that such scale is achievable outside of pure software sectors. The focus on category leadership and large-scale market opportunities is driving VCs to back companies with potential for unprecedented growth and returns.
The SaaStr founder’s commentary was shared on June 21 via Twitter, underscoring a new era in venture capital where $100 billion exits are becoming a benchmark goal for large funds, reshaping the investment landscape for the coming decade.