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Are You Leading a Series a Round?
Leading rounds is both a risk management cato in the sense that you can deploy capital over a period of time, as opposed to all up front. At each stage a company learns more and more. And so theye can of the confidence level with which you can determine the outcome increases as time goes on. In reality, that iora doesn't substantially mean anything beyond being an interim signal as to how things are going. So what we typically do is we lead series cd. We need series a, and then we don't really lead from series be yond ards.