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.

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.

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.

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.

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.

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.

Getting from Series A to Series B is a Tall Task

This chart tells an important story for early-stage founders. Only 10% of startups that raised a Series A in 2022 have raised a Series B two years later. That drop of nearly 2/3 from 2018 represents a brutal cliff for founders.

Unicorn bubbles

This chart is a perfect illustration of the pain still to come in venture. The explosion of ‘unicorns’ in 2021 and 2022 is the venture bubble in action. It will take years to unwind, and venture returns will continue to suffer along the way.

Your Mushroom Farm is Not a Tech Company

Most businesses aren't a good fit for venture capital. Picking the right sources of funding is one of the most important decisions you'll make. When you're pitching your mushroom farming startup as a tech company, you're on a path that's

Census Data Highlights Surge in New Startups

In the coming wave of AI-related disruption, we can enable entrepreneurship and unleash the job-creating forces behind it. We need to learn from the past to set the right policies for the future.

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 it? The startup press and many founders are obsessed with valuation. But that can be a trap. During a liquidation event, the most important factor is how the cash is