Grimshaw: Avoiding growth funds prevents pricing conflicts with founders
Miles Grimshaw · Benchmark Part II: The Dinner · Acquired · Oct 17, 2022 · at 43:46
Benchmark General Partner Miles Grimshaw explains why the firm avoids multi-stage growth funds during a discussion on venture capital incentives.
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“Our job, we're really focused on how do we scale the company, those companies, right? And how, as part of that, having a relationship that doesn't get sort of adulted by this question of the us making another commitment decision. It's like we're in and we're not evaluating anymore. We're not deciding what a fair price is anymore. We're not trying to decide how to maybe make a strategic call with a company that optimizes for a moment for us to get more capital in. Like there should be, we want to remove any chance of doubts or alternative incentives or questions in, in that relationship, right? So it can be fully, fully vulnerable.”
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