Waxman: TenOneTen Ventures never contractually guarantees LP co-investment rights
David Waxman · 20VC: Why Convertible Notes Are Ridiculous, Why Party Rounds Are Bad For Both Founder and Investor & Why Pro-Rata Rights Are A Mess with David Waxman, Founding Partner @ TenOneTen Ventures · Nov 29, 2017 · at 16:34
David Waxman is Founding Partner at TenOneTen Ventures. He explains why his firm refuses to grant limited partners explicit contractual co-investment rights.
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“I think we certainly never give them as a contractual right because once again, back to the founder, they know me, right? They know my partner. They know my Austin, our associate who works with us. You know, they want us around for a reason. They don't necessarily know our LPs and they don't know whether they're going to be good investors or difficult investors.”
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