The hottest Venture Capital Substack posts right now

And their main takeaways
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Top Business Topics

Letters to a Young Investor: Kirsten Green

The Generalist • 820 implied HN points • 06 Feb 25
💼 Business Venture Capital
  1. Kirsten Green's journey to becoming a successful investor wasn't straightforward. It took her ten years of learning and failing before founding her own firm.
  2. She developed a unique way of looking at business opportunities by focusing on how a business model can enhance the customer's experience.
  3. Failures in her early investments taught Kirsten valuable lessons and shaped her approach to investing, helping her identify when to trust her instincts.

Revisiting 2025 Predictions

next big thing • 46 implied HN points • 24 Dec 25
🕹 Technology Venture Capital
  1. Small, capital-efficient teams built AI-native products that scaled extremely quickly, creating many new businesses that reached tens of millions in revenue.
  2. AI shifted from being an assistant to a collaborator: code generation and app-building tools lowered the barrier to making software, but fully autonomous end-to-end AI workers still fell short of expectations.
  3. Markets and infrastructure tightened around AI — liquidity returned with major M&A and stronger exits, big tech earnings accelerated, and huge investments flowed into data centers and energy/cooling to support AI demand.

LFG (for semiconductors)

State of the Future • 47 implied HN points • 19 Dec 25
💼 Business Venture Capital
  1. Semiconductors are the best area to invest right now because system-level innovations like chiplets, advanced packaging, and heterogeneous computing are creating new opportunities beyond Moore’s Law. These shifts make startup-driven hardware innovation more valuable than before.
  2. With the right funding and momentum, Europe could produce many semiconductor giants; the region has the talent and existing industrial strengths to support about 20 potential unicorns in the next 3–4 years. Keeping founders and capital in Europe is key to building that pipeline.
  3. Cloudberry VC is a dedicated European semiconductor fund offering early capital, industry partnerships, and hands-on support to help hardware founders focus on building instead of chasing grants or ill-suited investors. The fund connects startups to manufacturing and photonics partners to speed prototype-to-volume paths.
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Introducing the Newcomer Banking Summit

Newcomer • 334 implied HN points • 31 Jan 24
💼 Business Venture Capital
  1. Newcomer Banking Summit is an invite-only event on March 14 in San Francisco.
  2. The summit discusses the impact of Silicon Valley Bank crisis on startups and venture capital firms.
  3. Speakers at the event include industry leaders like the president of Silicon Valley Bank and the founder & CEO of Mercury.

How to Invest in AI Sovereignty — Sovereign Albion w/ Andrew Bennett

State of the Future • 7 implied HN points • 12 Feb 26
🕹 Technology Venture Capital
  1. The future of AI hardware is heterogeneous computing — many specialised chips (like compound semiconductors and photonics) will handle edge workloads for latency, privacy, and cost reasons rather than everything running in giant data centres.
  2. Europe and the UK can win by focusing on niche, strategic semiconductor areas and building specialist funds and industry partnerships instead of trying to match global capex-heavy players on their own turf.
  3. Successful AI industrial strategy needs fast, experimental, venture-style public support and a cultural shift toward bigger ambition and patient capital to back risky founders and long-term roadmaps.

Software Is Fine

Software Snack Bites • 21 implied HN points • 19 Jan 26
💰 Finance Venture Capital
  1. AI-native startups will be able to build and maintain custom software more cheaply and could disrupt incumbents, but real-world issues like trust, ongoing maintenance, and company adoption still limit immediate wholesale replacement.
  2. The recent drop in many software stocks is driven largely by market flows, hedging, and correlated selling with semiconductors and datacenter names, not a fundamental ‘end of software’ story.
  3. Top-quality software companies are relatively resilient, but founders of legacy or pre-AI products need to add clear AI-driven growth hooks to earn premium multiples as markets reprice.

What to Watch in 2025

The Generalist • 860 implied HN points • 07 Jan 25
💼 Business Venture Capital
  1. In 2025, there will be big chances in defense tech and social services as the government starts using more tech from private companies. This means more jobs and growth in these areas.
  2. Artificial intelligence is set to grow, especially in healthcare and logistics, while crypto is expected to become more mainstream as regulations become clearer and institutional support increases.
  3. Consumer apps might make a comeback as major tech companies face antitrust issues, allowing new startups to find success in areas like entertainment and personal finance.

Not All Deep Tech is a Startup

Ulysses • 239 implied HN points • 06 Mar 24
💼 Business Venture Capital
  1. Software startups have unique advantages like zero-cost replication and large markets, but building unicorns is still rare.
  2. Deep tech ventures face challenges like talent scarcity and long payback periods, but success can create a science-fiction future.
  3. Different models for deep tech leverage value generation, such as software-derived value, economies of scale, high-margin consumables, and extreme capital goods durability.

Issue #145: Nubank Secures US Charter Green Light, PicPay's IPO Breaks Brazil's Four-Year Drought, And Mastercard’s Agentic Payments Move in Australia

Fintech Radar • 14 implied HN points • 01 Feb 26
💰 Finance Venture Capital
  1. Nubank got conditional OCC approval to form a US national bank and is building hubs in Miami, San Francisco, Northern Virginia, and the Research Triangle, signaling a fast start to US expansion. Regulators appear to be streamlining the charter process, making US entry easier for big neobanks.
  2. PicPay priced its Nasdaq IPO at the top of the range with heavy oversubscription, breaking a four-year drought of Brazilian companies listing in New York. The deal shows investors now favor fintechs that combine growth with profitability, reopening the IPO window for LatAm players.
  3. Mastercard completed authenticated agentic transactions in Australia, letting AI agents buy on users’ behalf but requiring biometric approval, which moves agentic commerce from concept to production. This makes payments networks a key trust and authentication layer if AI-driven shopping scales.

Chips for China, land for Russia, scorn for Europe

Alex's Personal Blog • 65 implied HN points • 09 Dec 25
🕹 Technology Venture Capital
  1. Boom is converting its Symphony turbofan into a gas turbine to power AI data centers, with large orders giving the company useful near-term revenue. This also adds another quick-response power option for the growing AI infrastructure buildout.
  2. Wealthy, politically aligned buyers are moving to control major media outlets, a trend that risks weakening independent journalism and can erode democratic checks. This mirrors the ‘Orbánization’ pattern seen when governments and allies consolidate media power.
  3. The federal government looks poised to use an executive order to block state-level AI regulations, aiming to avoid a patchwork of rules and protect industry competitiveness. That approach centralizes authority, raises federalism and constitutional questions, and effectively lets industry shape national policy while Congress remains gridlocked.

For the brand, I guess

benn.substack • 690 implied HN points • 07 Feb 25
💼 Business Venture Capital
  1. Venture capital firms need to be great at selecting good startups, but they also have to attract those startups. If they don't seem appealing, they might miss out on investment opportunities.
  2. Investors can stand out by offering more money, being flexible with terms, providing helpful support, or showcasing their reputation. However, being popular or having a strong brand has become increasingly important.
  3. There’s a shift in venture capital where having a strong presence online and being an internet celebrity matters more than traditional methods. Companies now look for people who can bring attention and create buzz.

CIA-adjacent VC community convenes in Boston during ice storm

All-Source Intelligence Fusion • 691 implied HN points • 07 Feb 25
🇺🇸 U.S. Politics Venture Capital
  1. A group of former CIA members and venture capitalists met in Boston to discuss new tech ideas for military and safety purposes. They talked about big topics like cybersecurity and defense technology.
  2. One interesting pitch was about using micro nuclear reactors to power U.S. military bases. They also discussed how these reactors could be involved in cryptocurrency mining.
  3. The importance of developing U.S. technology to stay competitive against countries like China was a hot topic. Everyone agreed that the U.S. must innovate to keep up.

The Myth of Hyper-Growth: Successful Startups Follow Quadratic Hypergrowth, Not Exponential. | VC Remote Jobs

Venture Curator • 239 implied HN points • 27 Feb 24
💼 Business Venture Capital
  1. Successful startups often experience quadratic hypergrowth rather than exponential growth.
  2. Understanding the quadratic growth model is crucial for predicting and controlling growth in companies.
  3. To sustain growth, companies must launch new products into new markets, leading to a variety of quadratic growth curves over time.

The One Slide, Most Founders Get Wrong When Fundraising | VC Jobs

Venture Curator • 199 implied HN points • 19 Mar 24
💼 Business Venture Capital
  1. The 'ask and use of funds' slide is a crucial opportunity for founders when fundraising; it should clearly state how much money is being raised, for what purpose, and avoid common mistakes like not including a specific dollar amount.
  2. Include SMART goals in the 'use of funds' slide, focusing on product, traction, market validation, and key hires; investors want to see a detailed plan on how the raised funds will contribute to company progress.
  3. Avoid including valuation on the 'ask' slide before securing a lead investor; the focus should be on the amount needed and what it will be used for, rather than terms of investment.

Steve Jobs: 'The Half-Truth of First-Mover Advantage' | VC Remote Jobs & More

Venture Curator • 319 implied HN points • 16 Jan 24
💼 Business Venture Capital
  1. Being the first to market doesn't always guarantee success - focus on product and marketing execution instead of just being the first.
  2. Many pioneers in industries did not become successful despite being first movers, showcasing the importance of execution over timing.
  3. Entering a market after pioneers can provide the advantage of learning from their mistakes and building a better product with secure marketing funds.

The VC Corner 📰 #11

The VC Corner • 279 implied HN points • 04 Feb 24
💼 Business Venture Capital
  1. Gulf investment is increasing in European startups, which could help boost innovation and growth in the region.
  2. Venture capitalists are looking at the secondary market for discounted investment opportunities, which can provide advantages in a tough economy.
  3. Generative AI is becoming a key focus for CEOs, who need to understand how it can benefit their businesses and improve efficiency.

What Does It Take To “Do Things That Don’t Scale” For Your Startup? | VC Remote Jobs & More

Venture Curator • 359 implied HN points • 28 Dec 23
💼 Business Venture Capital
  1. To succeed as a startup, focus on solving unique problems that others haven't addressed.
  2. Embrace doing tasks that may not scale initially, like manual sales calls, to validate your business model.
  3. Founders of successful startups often start small, handle unglamorous tasks, and focus on learning and building their product before seeking rapid growth.

The VC Corner 📰 #7

The VC Corner • 339 implied HN points • 06 Jan 24
💼 Business Venture Capital
  1. This newsletter is a great resource for anyone interested in venture capital and startups. It offers news and insights that can help investors and startups stay informed.
  2. You can subscribe for a free trial to access more detailed content. This allows you to explore the newsletter before committing to a subscription.
  3. The VC Corner aims to keep readers updated weekly, making it useful for both experienced investors and those new to the field. It provides valuable information that can enhance your understanding of the startup landscape.

The Archive

A Letter a Day • 550 implied HN points • 13 Apr 23
💼 Business Venture Capital
  1. The project involves sharing letters from influential investors, founders, and operators.
  2. The bottom-up approach helps to understand industries and people by reading their published works and listening to their talks.
  3. The newsletter provides a diverse range of insights from various individuals across different sectors such as public markets, venture capital, private equity, founders, operators, and talent hubs.

Momentum Cyber's Almanac

The Security Industry • 31 implied HN points • 08 Jan 26
🕹 Technology Venture Capital
  1. Cybersecurity M&A hit record levels in 2025 with $96B deployed across 400 transactions, a 270% rise in deal value, and a $32B landmark acquisition.
  2. Funding also rebounded strongly with $20.7B invested—the best year since 2021—and cloud-native/SaaS deals made up 59% of deal volume and 97% of M&A capital deployed.
  3. Strategic buyers dominated disclosed deal value (92%) and the industry’s vendor taxonomy was overhauled, highlighted by a new Cyberscape and a 1,000‑logo infographic.

Netflix Co-founder's 'The Canada Rule' For Building Successful Startups 🧐 | Pre-Money Valuation Growing 💹| VC Remote Jobs

Venture Curator • 239 implied HN points • 22 Feb 24
💼 Business Venture Capital
  1. The 'Canada Rule' advises startups to focus on one or two important things rather than chasing every opportunity.
  2. Pre-money valuations in Europe are showing growth across different stages, indicating market resilience.
  3. VCs are using 'Dry Powder' in convertible bridge rounds, showcasing creative financing strategies by founders.

How the AI bubble will unfold

Expand Mapping with Mike Morrow • 24 implied HN points • 17 Jan 26
💼 Business Venture Capital
  1. Major AI companies are burning huge amounts of cash and are staying private to avoid revealing weak financials, so an IPO could expose losses and trigger a sharp valuation drop.
  2. Training costs are enormous and likely to keep rising as models scale, while inference costs per token may fall but overall expenses can still grow because of bigger, token-hungry models and growing demand.
  3. The likely outcomes are limited: a rare proprietary breakthrough, real financial improvement through monetization and cost cuts (which risks losing users), or an IPO that reveals the losses and pops the bubble.

The Game

Venture Prose • 539 implied HN points • 13 Aug 23
💼 Business Venture Capital
  1. Venture capital world has become overly competitive, leading to deals made without proper diligence or due consideration.
  2. Consensus in the industry spreads rapidly, leaving founders vulnerable to hype and unfounded opinions.
  3. Investors often don't provide enough guidance or mentorship to young founders, leaving them to run companies without sufficient support.

YC Strategy 'Cash In, Cash Out, Milestones Achieved' To Raise Funding | Peter Thiel On 'Make A Product A Few Love' | VC Remote Jobs & More

Venture Curator • 439 implied HN points • 15 Nov 23
💼 Business Venture Capital
  1. Y Combinator's strategy for raising funding includes focusing on 'Cash In, Cash Out, Milestones Achieved' to impress investors.
  2. Peter Thiel emphasizes the importance of making a product that a few people really love, rather than trying to please a large group at the start.
  3. When seeking venture capital funding, it is crucial to have a clear plan for the amount of money you need, the runway required before the next round, and the milestones you aim to achieve.

When to Raise Funding? How much funding is too little? Too much? | VC Remote Jobs & More

Venture Curator • 259 implied HN points • 06 Feb 24
💼 Business Venture Capital
  1. Founders should not jump into fundraising when their business is not ready
  2. When raising funds, it's crucial to know the right timing based on market opportunity, customer needs, and product market fit
  3. Raising too much money can lead to cultural corrosion in a startup, which can affect hiring, management, product focus, and more

YC

Venture Prose • 519 implied HN points • 21 Aug 23
💼 Business Venture Capital
  1. YC-backed companies' valuations have significantly increased over the past years due to market conditions and increased capital availability.
  2. When investing in startups, it's crucial to have access to top founders, win deals, and diversify your portfolio with at least 20 deals to maximize returns.
  3. High valuations and early-stage startup frenzy can sometimes lead entrepreneurs to lose sight of the core values and essence of their journey.

Send in Your Burning Questions!

Newcomer • 255 implied HN points • 06 Feb 24
💼 Business Venture Capital
  1. Readers can submit burning questions for a reader mailbag in 2024
  2. The world of venture capital and startups has seen major changes in the new year
  3. Options given for submitting questions include leaving a comment, tweeting, or using a Google form

Don't be evil*

benn.substack • 920 implied HN points • 25 Oct 24
💼 Business Venture Capital
  1. Google succeeded for a long time because it was run by good people, or maybe because it just made such a great product that they didn't need to cut corners.
  2. When businesses are struggling, they might feel tempted to act unethically just to survive, but that's often because they don't have enough resources rather than failing morals.
  3. High ambitions can often lead companies to change in ways they didn't expect, sometimes moving away from their original ideals while trying to succeed.

The Best Investing Advice

The Generalist • 760 implied HN points • 23 Dec 24
💰 Finance Venture Capital
  1. Investing is all about finding great companies, not just good deals. Focus on what makes a company truly outstanding.
  2. Diversify not just across different industries, but also over time. Don't rush into investments; think long-term and consider market changes.
  3. Startups should offer something unique that stands out. Instead of competing with existing options, create a choice that reshapes the conversation.

The VC Corner 📰 #12

The VC Corner • 239 implied HN points • 11 Feb 24
💼 Business Venture Capital
  1. Venture capital distributions are at a 14-year low, indicating a shift in investment trends. This could mean less money is flowing into startups right now.
  2. The bar for companies going public is getting higher. It's becoming tougher for businesses to meet the requirements to launch their IPOs.
  3. There are 20 tech trends to keep an eye on for 2024. Watching these trends can help investors and startups stay ahead in the industry.

Dire Les Choses

Venture Prose • 738 implied HN points • 15 Jan 23
💼 Business Venture Capital
  1. Investors in venture capital should not shy away from addressing sensitive topics with the founders they support, to avoid miscommunication and potential issues.
  2. Communication is key in maintaining productive relationships between investors and entrepreneurs. Creating an environment where feedback is welcomed and honest conversations can take place is crucial.
  3. Investors need to share observations directly with entrepreneurs, rather than gossiping or keeping concerns to themselves. Open dialogue and constructive conflict can lead to better outcomes for all parties involved.

How Many Investors Should You Talk to in a VC Fund Raise? And How Do You Prioritize? | VC Remote Jobs & More

Venture Curator • 239 implied HN points • 08 Feb 24
💼 Business Venture Capital
  1. Fundraising is a sales & marketing process that needs careful planning and time management with prioritization of top investors.
  2. Founders should focus on engaging investors who show interest, authority to make decisions, and willingness to continue spending time.
  3. Having a balanced approach in engaging top and bottom of the funnel investors, using marketing techniques, and keeping a healthy pipeline is key to successful fundraising.

VCs Take Heat for China Deals…Down Rounds Up in 2023…Lightspeed in the VC Directory

Newcomer • 235 implied HN points • 09 Feb 24
💼 Business Venture Capital
  1. US VCs face scrutiny for investing in Chinese companies linked to national defense technologies.
  2. There is concern about US venture capital flows aiding China's advancements in chips and AI, posing national security risks.
  3. Some VCs may have overlooked the potential negative impacts of their investments on US interests and security.

Long Term

Venture Prose • 479 implied HN points • 04 Jun 23
💼 Business Venture Capital
  1. Success often requires effort, dedication, and patience over immediate gratification.
  2. In the world of entrepreneurship and investing, it's important to have a long-term perspective and not get caught up in instant success narratives.
  3. Building meaningful companies requires ethics, rhythm, and alignment, along with cultivating long-term relationships with founders.