Mike Maples, Floodgate
Origins - Inside Venture Capital, Hosted by a GP and an LP
Your Fund Size Is Your Strategy
A lot of people think about their fund size as a function of how many investors they have and how many deals they'll do across the investors. What I've learned is that successful startup outcomes are actually a rare event. 10 companies out of over 1,500 seed funded companies in a year will create at least 95% of all exit profits. And so if you say I'm raising a hundred million dollar fund, what you're really telling LPs is I'm committing to having our best exit return,.
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