Origins - Inside Venture Capital, Hosted by a GP and an LP Staying Small Despite Billion-Dollar Backings with Micah Rosenbloom
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Dec 2, 2025 Micah Rosenbloom, Managing Partner at Founder Collective and seasoned tech founder, discusses the advantages of maintaining small funds in a world obsessed with billion-dollar backings. He emphasizes how staying small allows for niche investments and a focus on founder optionality. The conversation explores investors' common failures in spotting trends early, the potential of consumer goods against the AI wave, and whether bold investments are driven by courage or just luck. Micah also reflects on adapting strategies amid market fluctuations.
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Fund Size Signals Strategy
- Founder Collective keeps funds under $100M because fund size signals strategy and incentivizes chasing AUM over returns.
- Smaller funds preserve optionality for founders and allow investing in modest but valuable opportunities.
Prefer Founder Optionality Over Big Checks
- Invest where you can write meaningful checks without needing massive exit assumptions; small funds can back niche founders other firms ignore.
- Preserve founder optionality by avoiding forcing entrepreneurs into an inevitable large-capital path.
Investing In Dental-Lab Software
- Micah described leading a recent seed in dental-lab software where larger funds declined due to uncertain upside.
- Founder Collective invested because they could support a founder building a focused business without needing a giant exit.