Remove Later Stage Remove LP Remove Metrics Remove Seed Money
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To Follow On or Not to Follow On

This is going to be BIG.

There are a lot of people that artificially group together performance metrics for venture, and try to extrapolate successful stratagies from it. I know, because those people all used to pitch me as an institutional LP back in the day. I thought the numbers prove this--because big later stage underperforms small early stage.