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Investing in a Seed Fund
The amount you need to invest yen aso the fee gets to be more material, ond the expenses don't. And so all of a sudden you get these interesting situations where the g ps are more chasing the next fee than they are to carry as an l p. It's something of a stage thing, right? If you're doing seeds, those dollars aren't going to scale the same as if you're doing series bs or cs. The lines of demarcation that i've heard them talk about end up being different across what stages you're focusing on.