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Why LP’s Passed on Seed Funds 10 Years Ago (And What’s Happened Since)

View from Seed

It’s that when things go south, seed funds will have a hard time defending themselves against larger funds that might do a recap or put in a pay-to-play. When we have been converted to common or very deeply diluted from a pay-to-play, the companies have either failed anyway or were not blockbuster outcomes.

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