Max Altman: Seed funds competing for Series A face adverse selection
Max Altman · 20VC: Max Altman on The New Seed War: Can Anyone Compete with Sequoia and a16z | Leaving $2BN on the Table with Reddit | Lessons from Backing Rippling at $25M Post | Why Climate Tech is a Mirage and Disaster · Nov 21, 2025 · at 27:25
Max Altman explains why Saga Ventures focuses exclusively on seed rounds rather than competing for Series A deals against established multi-stage firms like Sequoia.
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“I'm clearly gonna Lose the deals that I want to lose, and if I win them, it's probably not the ones that I want.”
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