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The Risk Reward Profile for Early Stage Investors
It's post product market fit. Most of what we do is probably series being beyond, but I hesitate to say that because the letter designations these days really are not as meaningful. The 10 to 50 million zip code in terms of ARR scale is a sweet spot for us. And then there's a good chunk that's even greater than 50 million where call it 10 to 100 where you really need to institutionalize.