The Ledger
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Megafund 'relievers out of the bullpen' are driving up startup prices
“I've probably seen more of Hey, this fund has a bunch of money and you might not be getting their number one person. It could be their, you know, whatever, their reliever out of the bullpen that's coming in to do the round. And those are the ones that they're …”
Bartlett: Sovereign wealth replaced pensions and endowments in mega VC funds
“I think if you talk to smart endowments or pension plans or stuff, they, they've definitely as fund sizes have gotten to three, four, five, six billion dollars. Like those people have raised eyebrows and maybe voted with their feet to either scale down or walk…”
Bartlett: Over-optimizing startup entry price signals doubt about ultimate outcome
“What I've realized is like price very rarely within some zone has mattered. And when I find myself iterating a little too much on on like, oh, I'll do it at this price versus that price. It probably says something about what I think the ultimate outcome for th…”
Bartlett: Founders now prioritize individual board partners over firm brands
“It feels like we've rotated a little bit more back to like, who is my individual board member? Who is going to be on the ground with me day to day? Like I'm going to solve for that person rather than the soul, like just the brain past a certain point, right? L…”
Bartlett: Redpoint invested in Ramp at an $8B+ valuation in late 2021
“That round that we ended up investing in at whatever, eight billion or eight and a half or whatever it was what's a couple hundred million among friends. But I that was like, December, 21 when we were talking about it, and then the round ultimately closed in J…”