pro rata

“I always insist on getting pro rata in a company because I think that the second investment is a much better investment than the first investment.”

“And the other thing that happens in good deals is the founder frequently doesn't want you to do your pro rata because they want to give the new investors as much room as possible. So I found that there's an alignment generally in the good deals that, hey, stic…”

“So to me, I think pro rata is a total cop-out.”

“In reality, when you really are trying to invest your pro rata into the companies that are becoming really great, the assumption that it is going to be available for you is false.”

“Yeah, and to be honest, like, we're not, in those situations we're talking about, we're not perhaps taking the entire prorata we have, ok? So, we are managing that capital.”

“One of the reasons that it was important to commit to doing your pro rata was there was this thing called signaling risk, which people were worried about. And that still is relevant today, but less relevant.”

“I believe the pro rata for your middle tier is never actually a great thing anyway. Like the messy middle pro rata, you're not gonna regret not doing it.”

“Yeah, we definitely don't always do our pro rata. I would say we are choosy”

“Fundamentally, I agree with the idea that just doing your prorata is a cop out. You either want to do nothing or triple down.”