bridge round

“Dilution in a standard seed round is still right around 20% for a founder. But if you do the bridge, that might be another eight or nine percent. And then you're talking about having done 30% in your seed. And that's a very high diluted figure if you're trying…”

“But in general, I gotta say, I think that early stage funds bridge far too many companies.”

“So you might bridge a company. For the express reason of having better marks to go and show your LPs when you go and fundraise. And so that might be the primary reason you did it. Even if you're like, I know this founders and probably don't get there.”

“Weirdly, in the last year, there's been a couple quarters where the companies that took a bridge More of them have made it to the next stage and the companies who haven't taken a bridge yet.”