Valuation Makes The Headlines – Liquidation Preferences Allocate The Cash
Why do some startups, despite raising over $100 million and achieving unicorn status, end up with little to show for
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Fear, Uncertainty, and Doubt Can Be Founder Superpowers
Fear. Uncertainty. Doubt. As a founder, it’s easy to believe these feelings are weaknesses. They lay the foundation of
Embrace the MVP and Stop Trying To Boil The Ocean
You’re trying to boil the ocean. You had a simple idea for a startup. One problem to solve. A
Don't Believe The Hype
The Scooter company Bird filed for bankruptcy yesterday. Another high-flying unicorn falls to earth. This is an important reminder that you can’t believe the hype in the startup press.
Down Rounds and Recaps Part 1 — What, Why, When
Welcome to part one of our series on down rounds and recaps: * Part 1: A Guide to Down Rounds and
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Where Did All the Venture Capital Go?
The fundraising crunch starts at the exit. Slow M&A and IPOs mean no distributions to LPs. No LP distributions means no "dry powder" for VCs to invest. This chain reaction is one reason why raising capital is so difficult right now.
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What's Your Ownership Stake Really Worth?
Founders obsess over ownership percentage. Wrong metric. Your 20% stake could be worthless if the preference stack is too high.
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Navigating the 2025 Startup Valuation Reset
1 in 5 venture rounds since 2023 has been a down round. A down round isn't failure. It's a strategic reset, reflecting a market that has fundamentally changed and now demands stronger fundamentals.
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The Series A Squeeze: This is What a Tighter Fundraise Environment Looks Like
In 2020, 39% of SaaS startups raised a Series A within 2 years of their seed round. That number has now fallen to just 13%. This is what the Series A squeeze looks like.
Your Board Meeting Isn’t Just an Update—It’s Your Moment to Lead
Most founders treat board meetings like status updates. That’s a mistake. It’s your chance to lead with a clear narrative—build conviction before you ask for help. Investor support must be constantly earned.
High Rates and Tariffs Are Delaying Startup Exits
Wondering why the M&A and IPO markets are so tight? No surprise that VCs are pointing to high interest rates and tariff uncertainty as key blocks to an exit. In a tight exit market, focus on what you can control.
Funding
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Q1 VC Fundraising Tracks to Decade Low
VC fundraising hit a decade low pace in Q1 2025 ($10.0B via 87 funds). For founders, this signals one of the toughest fundraising climates in years. Your metrics should be undeniable. Prepare for a marathon, not a sprint.
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When 71.1% of VC Dollars Go to One Sector, You Pay Attention
71.1% of all VC deal value last quarter went to AI. If you're building here, focus on PMF, not hype. If you're not in AI, fundraising keeps getting harder—your story needs to be sharper than ever.
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The Holiday Fundraising Trap – What Founders Should Do Now
Thinking about launching your fundraise now? November & December are the worst months to start, with just 6.4% of deals closing in January. Here's what you should do.
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Time Is Killing Venture Returns
As an investment vehicle for LPs, venture capital is broken. As a founder, you need to understand this dynamic. Choose your investors wisely.
Funding
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Why Longer Fundraising Cycles Are Good for Startups
It's taking longer to raise a round of venture funding. This is a healthy change. Let me explain why.
The Rapid Rise of Zombie VCs
Zombie VCs are surging: 25% fewer active investors in 2024 vs 2023, and 50% down from 2021's peak. These funds can't make new investments, but their short-term focus can still cause major problems for founders in their portfolio.