VCs will block life-changing startup acquisitions that miss fund return thresholds
Art Levy · Brex’s Road to IPO and The Golden Age of M&A · Sourcery with Molly O'Shea · Jul 10, 2025 · at 45:20
Brex CBO Art Levy discusses founder-investor incentive misalignment during M&A conversations.
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“I think the truth is that even with your board as a founder, I'm not sure your incentives are completely aligned because it's back to, well, first of all, what is the price on the table, right? Is it a nice two or three X for the VCs on the board or not? Because if it's not, they're going to tell you not to sell, even if it's life-changing money for you”
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