Investing in Series a Firms

If you have a hundred million dollar fund, what are you really investing in new companies and when? Right? Great point. Worth talking about why, if you've got only 80 million dollars to invest. You need to reserve capital for for perrata. A lot of firms do in a one to one, or even two to one reserves. For every one dollar they invest in their initial entry, whether that's seed or a or b or whatever, they'll investment twice that amount of capital.