multi-stage fund
also referred to as: multi-stage funds
4 statements across 1 episodes · 0 bullish · 4 bearish · 2 people on the record · first statement Aug 30, 2024 by Harry Stebbings · across every show →
Everything said about multi-stage fund, oldest first
Aug 30, 2024 negative
Stebbings: Seed checks under 2-3% of VC fund size are pure optionality bets
“Does this multi-stage fund care about me enough? Am I meaningful enough in proportion to that fund size? So it's like, what portion, what proportion of that fund size is this check? Sub two to three percent. Honestly, it's a total optionality bet.”
Aug 30, 2024 negative
Lacher: Multi-stage VC win rates at Series A dropped from 50% to 1-10%
“Series A has become such a red ocean for VCs competing to enter the rounds that it's just very difficult to win deals. If you were a multi-stage fund five years ago, you would maybe have a 50% chance to win a term sheet in one of your great founders, right? An…”
Aug 30, 2024 negative
Lacher: Seed Checks From Multi-Stage VCs Create Severe Series A Risk
“If you have an aggressive Multi-stage fund in your cap table, everyone knows if you're killing it, they would preempt your next round. They would clearly do the A round. That's certain. Can give you 10,000 examples. It's just, if things are going okay, but not…”
Aug 30, 2024 negative
Stebbings: Multi-stage VC employees must chase hype deals to get promoted
“If you are a strategic person in a multi-stage fund, getting into one of these hot deals is what's going to get you the promotion. Doing the slightly off the beaten track, but amazing company that might take three or four years to get to product market fit, or…”