The Stories Behind Cap Tables

Startups don’t need capital—they need signal. Founders choose individual VCs based on their chemistry, high-conviction and fast commitment....

The Mutable Laws of VC

Not all Notes are created equally—know the difference between Fully Diluted Basis vs. Issued and Outstanding. Not all shares are created equally—know the liquidation preference stack. There ar...

Rolling Venture Funds through the Good Times and the Bad

On February 5, 2020, just before our world was upended by a global pandemic, AngelList announced its Rolling Venture Funds program. Alex Konrad wrote a great piece about the launch. It earned soci...

Do Emerging Fund Managers Outperform More Established VCs?

Today we address our first question:  Do Emerging Fund Managers Outperform More Established VCs?  The bottom line is that YES, emerging fund managers have a slight edge compared to more establishe...