Green: Lead Edge Was Wrong Refusing 10X Revenue Software Multiples
Mitchell Green · Mitchell Green: Why 50% of VCs Should Not Exist · 20VC with Harry Stebbings · Mar 7, 2026 · at 1:01:47
Mitchell Green is the Founder and Managing Partner of Lead Edge Capital. He reflects on his firm's decision not to match Iconiq Capital's higher pricing for premium software deals between 2016 and 2018.
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“And so, like, the hardest decision is, actually, the hardest decision was, did we, should we have in, like, nine, 2017 and 18, like, and 16, like, paid, like, when everybody, when we were paying five to seven times revenues for software companies, and Iconic came in and started paying 10 times, and just, like, winning the best deals and prices, we're like, we know these are the best companies. Should we do these deals? We did not. We were wrong.”
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