The hottest Venture Capital Substack posts right now

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What 'Institutional Ready' Means for Emerging VC Funds (X-Post)

Law of VC • 268 implied HN points • 25 Jun 25
💼 Business Venture Capital
  1. Emerging VC funds need to show they are 'institutional ready' to attract capital. This means they must have solid operational practices like audits and compliance in place.
  2. The venture capital landscape is changing, with large funds dominating the capital flow. Many emerging managers are now developing structured approaches to compete effectively.
  3. To succeed, emerging funds should build a strong foundation early on. Having a clean data room and understanding institutional requirements can set them apart in a crowded market.

52 Tiny Venture Lessons

The Generalist • 860 implied HN points • 31 Oct 24
💼 Business Venture Capital
  1. Look for unique people when investing. Different or strange backgrounds often lead to surprising success, so don’t just focus on traditional markers like good grades.
  2. Create your own investing strategy. Trying to copy what others do won't work for you, so find a method that fits your own strengths and experiences.
  3. Help without overstepping. It’s important to support startups when they ask, but don't check in too often or interfere unnecessarily.

The VC Corner 📰 #9

The VC Corner • 259 implied HN points • 20 Jan 24
💼 Business Venture Capital
  1. 38% of venture capitalists have stopped making deals in 2023. This shows a big change in the investment landscape.
  2. Successful exits for startups can lead to mixed feelings among founders and investors. It's a success, but it can also feel like losing something they built.
  3. There is a push for better governance in the artificial intelligence sector through an AI Governance Alliance. This aims to make AI use safer and more responsible.
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VC: "I Don't Care About Your LTV/CAC Ratio!" Why? | VC Remote Jobs

Venture Curator • 179 implied HN points • 05 Mar 24
💼 Business Venture Capital
  1. Investors value the velocity of return on customer acquisition cost (CACD) more than the LTV/CAC ratio. They want to know how quickly their investment in acquiring customers is returned as customer lifetime value.
  2. Customer cohorts are crucial: Not all customers have the same value. By tracking the LTV/CAC ratio by customer cohort, businesses can optimize their marketing efforts and focus on acquiring high-LTV customers.
  3. Startup success is tied to the correlation between customer acquisition cost (CAC) and customer lifetime value (LTV). A high LTV/CAC ratio indicates a successful business model, while a low ratio can lead to financial challenges and potential startup failure.

Data is actually not a great VC-backed business

Five Links (and three graphs) by Auren Hoffman • 202 implied HN points • 27 Jul 25
💼 Business Venture Capital
  1. Data companies are not a good fit for venture capital because they grow slowly and don't need large amounts of funding. They can be profitable but don't usually scale quickly like software companies do.
  2. The number of hedge funds and other businesses buying data is actually declining, and despite expectations, AI hasn't significantly changed this trend.
  3. The best data companies are often private and attract interest from private equity firms rather than venture capital. They offer steady profits but not the explosive growth that VCs typically look for.

What Matters Most For Startup Growth? From VP of Growth at Facebook | 37% Of First-time VCs Might Not Able To Raise A Second Fund | VC Remote Jobs

Venture Curator • 199 implied HN points • 20 Feb 24
💼 Business Venture Capital
  1. For startup growth, focusing on retention is key. Many founders neglect retention in favor of customer acquisition, leading to business failure.
  2. Before pursuing growth tactics, startups should aim for product-market fit. Prioritize retention over growth hacking when the retention curve fails to flatten.
  3. Identifying the 'magic moment' for users, emphasizing tactics for virality, and aligning with the CEO as the north star for growth are essential strategies for sustained growth.

Microsoft Should Buy Ramp

Alex's Personal Blog • 65 implied HN points • 20 Nov 25
💼 Business Venture Capital
  1. Venture capitalists are excited about an increase in startup acquisitions after a recent court ruling favored Meta. This suggests there's a lot of movement happening in buying smaller companies.
  2. Many startups that were stuck without growth now have a chance to find new homes through mergers and acquisitions. This could lead to a healthier market for these companies.
  3. Ramp, a corporate spend management company, is gaining attention for its growth and intelligence capabilities, leading to suggestions that Microsoft should consider acquiring it.

Silicon Valley's Cargo Culting Problem - Wearing A Black Turtleneck Doesn’t Make You Steve Jobs | VC Remote Jobs & More

Venture Curator • 239 implied HN points • 23 Jan 24
💼 Business Venture Capital
  1. Cargo Culting is the act of copying something without really understanding the reasons behind it, which can be harmful for startups
  2. Successful companies like Google, Facebook, and Uber were pioneers not just because of their actions, but because they deeply understood their strategy and market
  3. Founders should prioritize user needs over superficial details and learn valuable insights from successful companies rather than blindly following trends

Spotlight: Daniel Kleinmann, Daniel Wallman, and Phil Scully - Partners @ Balerion Space Ventures

Space Ambition • 359 implied HN points • 17 Nov 23
💼 Business Venture Capital
  1. The space industry is quickly growing, with many new companies starting up. This offers a great chance for investment in exciting projects that can help us explore and use space.
  2. Investors like Balerion VC focus on specific areas within space tech, such as satellites and space tourism. They want a mix of investments to cover all important sectors of the space economy.
  3. For anyone looking to invest in space, building a strong network is key. It's important to make helpful connections and relationships in the space community.

Don't track LTV/CAC; Instead track LTV/CACD, Why? | VC Remote Jobs & More

Venture Curator • 259 implied HN points • 09 Jan 24
💼 Business Venture Capital
  1. Successful startups track LTV/CACD instead of LTV/CAC for better insight into customer acquisition efficiency and sustainability.
  2. The cost of attracting a new customer should be lower than the value extracted from that customer; all customers are not equal, and tracking LTV/CAC by customer cohort can help optimize customer acquisition efforts.
  3. Investors focus on the velocity with which invested acquisition costs come back as lifetime value; tracking LTV/CACD, with 'D' for 'doubled,' provides a better understanding of return on investment in a shorter time period.

Investors Are Looking for Market Opportunity, Not Just Size | VC Remote Jobs & More

Venture Curator • 219 implied HN points • 01 Feb 24
💼 Business Venture Capital
  1. Investors prioritize understanding the market opportunity over just focusing on market size. They want to see a detailed bottom-up approach that showcases how a business will attract and retain customers.
  2. Entrepreneurs should move away from the typical market size slide in pitches. Instead, they should emphasize showing investors a deep understanding of the market opportunity at an individual customer level.
  3. Investors are interested in startups that create new markets rather than compete in established markets. Building a bottom-up model focusing on customer acquisition and satisfaction is critical in pitching to investors.

Never express your ‘Use of Funds’ slide as percentages, why? | VC Remote Jobs & More

Venture Curator • 219 implied HN points • 30 Jan 24
💼 Business Venture Capital
  1. When raising funds, focus on milestones rather than expressing your 'Use of Funds' slide as percentages to show understanding of the funding journey.
  2. Understand where the value increase in your startup will come from, ensuring the proper allocation of funds for operations, technology development, and growth metrics.
  3. Design your fundraising strategy around specific goals and targets, painting a clear picture of how the next round of funding will be achieved through key hires, customer growth, and revenue increase.

This New Internet Thing, Chapter 28

Life Since the Baby Boom • 691 implied HN points • 21 Nov 24
🕹 Technology Venture Capital
  1. The author is publishing a new book and sharing it in chapters online, hoping readers will find it interesting enough to buy it later.
  2. The story features characters navigating the early internet business landscape, highlighting their challenges and opportunities.
  3. There's a focus on growth versus profitability, showing the tension between the desire to expand fast and the need to make money.

How to Avoid Becoming a VC Meme and Actually Add Value

The Generalist • 700 implied HN points • 21 Nov 24
💼 Business Venture Capital
  1. Venture capitalists should focus on actually helping founders by connecting them with great talent, customers, and funding. It's important not just to say you add value, but to really do something meaningful.
  2. It's better for investors to set realistic expectations about their contributions. Overpromising can damage relationships with founders, so honesty about what you can offer is key.
  3. Investors should respect the founder's role and not try to take over. They bring valuable insights but need to let entrepreneurs lead their own companies and make their own decisions.

How VCs Build Soft Power

The Generalist • 780 implied HN points • 15 Oct 24
💼 Business Venture Capital
  1. Soft power is important for venture capitalists because it helps them stand out in a competitive market. It’s not just about money but also reputation and influence.
  2. Building soft power takes time, but new VCs can start quickly by finding their unique voice and using online platforms to share their ideas.
  3. Learning from experienced investors can help avoid common pitfalls. They share their mistakes and successes to help others grow their soft power effectively.

Wrapping the Year for the Cyber 150

The Security Industry • 25 implied HN points • 03 Jan 26
🕹 Technology Venture Capital
  1. A data-centered ranking of mid-size cyber firms (50–500 employees) surfaces the fastest-growing vendors and is a practical starting point for investors.
  2. Most of the listed companies kept expanding—121 grew in the past year—and the group attracted heavy venture funding, with 39 firms raising over $4B in 2025 and $11.5B raised in total.
  3. Some firms graduated out of the mid-size category by exceeding 500 employees, while 29 companies saw headcount declines in 2025, often because they were acquired.

The Who and Why of Spacetech Investments

Space Ambition • 119 implied HN points • 05 Apr 24
💼 Business Venture Capital
  1. Interest in spacetech is growing fast, with many venture capital firms looking to invest. This area is part of a larger category called deeptech, which is seen as complex and risky.
  2. Investors are drawn to spacetech for its long-term potential, much like investing in successful tech companies in their early days. They want to be part of something big that could change the future.
  3. Despite a recent drop in overall investment activity, specialist funds are still eager to invest in spacetech. They see value in supporting innovative sectors that could lead to significant advancements.

Ne pas écouter ses investisseurs

Venture Prose • 499 implied HN points • 19 Feb 23
💼 Business Venture Capital
  1. Investors may push for hyper-growth, but it's okay to build a company at your own pace.
  2. Investors will critique your execution, but it's important to read between the lines and improve where necessary.
  3. Focus on having the right attitude and work ethic to set the pace for your team, even if it means not always rushing.

TAM - that's Totally A Made Up Number. | Needs More Scientists In VC | VC Remote Jobs

Venture Curator • 179 implied HN points • 15 Feb 24
💼 Business Venture Capital
  1. Focusing on capturing a small share of a well-defined market is more strategic than aiming for a tiny portion of a giant market.
  2. Encouraging scientists to enter venture capital can drive innovation and align with objective data over marketing dominance.
  3. The shift to using SAFE valuation caps in fundraising reflects a dominant trend, especially in specific sectors like SaaS, Fintech, Gaming, and Edtech.

A Midas Winning VC Playbook

The Generalist • 1401 implied HN points • 07 Mar 24
💼 Business Venture Capital
  1. Primary Venture Partners focuses on being the best seed fund by sticking to their core ethos of 'Startups are hard, founders deserve better.'
  2. They prioritize selective investing, focusing on high-risk, high-reward opportunities in the early stages of startup funding.
  3. Using a substantial impact team and unique operational approach, Primary Venture Partners aims to differentiate themselves in the competitive venture capital landscape.

Not Granted

Venture Prose • 439 implied HN points • 19 Mar 23
💼 Business Venture Capital
  1. Don't think you've won. Don't take anything for granted.
  2. Make yourself clear, detailed, intelligible.
  3. Always articulate clearly why others should consider you seriously.

The VC Corner 📰 #5

The VC Corner • 259 implied HN points • 22 Dec 23
💼 Business Venture Capital
  1. Venture capital is a great way for people to learn about investing in startups. It's useful for both experienced investors and newcomers.
  2. This newsletter shares important news and information that can help investors stay informed. It's a handy resource for anyone involved in venture capital.
  3. You can try out the newsletter for free for a week. This is a great opportunity to see if it meets your needs before committing.

Paypal's 'Going Sharp' Stategy To Find Product Market Fit | VC Distributions Sink To 14-Year Low | VC Remote Jobs ....

Venture Curator • 179 implied HN points • 13 Feb 24
💼 Business Venture Capital
  1. PayPal's 'Going Sharp' strategy focused on specific customer segments and key features for successful growth.
  2. Venture Capital distributions hit a 14-year low, affecting LP reinvestment willingness.
  3. Valuation caps varied based on round size in 2023 post-money SAFEs for US companies, highlighting caution against blind use of multiple caps.

Absurdity

Venture Prose • 359 implied HN points • 22 Oct 23
💼 Business Venture Capital
  1. Smaller teams are more productive than larger ones.
  2. Productivity gains decrease as a team grows in size.
  3. Cash isn't always the best advantage against competitors.

Marc Andreessen: Understand "Onion Theory Of Risk" To Raise Funding For Your Startup | VC Remote Jobs & More

Venture Curator • 259 implied HN points • 18 Dec 23
💼 Business Venture Capital
  1. Understanding the relationship between risk and cash flow is crucial for successfully raising venture capital funding for a startup.
  2. Peeling away layers of risks through achieving milestones is key to pitching your startup effectively to investors at different funding rounds.
  3. The Onion Theory of Risk highlights the layers of risk a startup faces and emphasizes the importance of systematically reducing these risks to attract funding.

DeFi Education's Holiday Book List

DeFi Education • 1079 implied HN points • 07 Dec 22
💰 Finance Venture Capital
  1. Reading is important for investors. It helps you understand new information and gain different viewpoints.
  2. The recommended book list includes diverse topics, not just crypto, to foster a well-rounded understanding of finance and business.
  3. Books like 'Digital Minimalism' and others help readers refine their focus and learn important historical lessons about money.

Vision 20/26: Charting India

Tigerfeathers! • 35 implied HN points • 19 Dec 25
💼 Business Venture Capital
  1. AI has to prove real results in 2026 — products that deliver measurable customer value, cut routine decisions, and automate common tasks (including voice and edge AI) will win, not just flashy promises.
  2. India’s economy is shifting to a homegrown engine of growth — strong SIP-led domestic capital, an active IPO market, rising founder ambition, deep‑tech gains, and massive SMB digitisation are creating large, local opportunities with global potential.
  3. Infrastructure and resource gaps are becoming critical constraints — data centres need reliable clean power, clean‑tech investment is misaligned with where future energy demand will grow, and water security is an urgent problem that requires tech and policy solutions.

Mullet Capitalists

The Generalist • 620 implied HN points • 26 Nov 24
💼 Business Venture Capital
  1. Mullet Capitalism is a new trend in venture capital where firms combine a traditional business with venture investments. This means they can use their existing business to identify promising startups and invest in them.
  2. Many emerging managers in the venture space are facing tough times, and Mullet Capitalism offers a fresh approach for them to adapt and thrive. It highlights the importance of blending stable income with the potential for high returns in investments.
  3. Examples of Mullet Capitalists include recruiting firms and media companies that also invest in startups. These firms leverage their industry connections and insights to make informed investment decisions while providing valuable services.

The Importance (and Shortcomings) of a Data-Driven Approach in Venture Capital

patternventures • 198 implied HN points • 16 Feb 24
💼 Business Venture Capital
  1. Venture capital is a great field for using data because it can really improve the investment process. By analyzing data, investors can more easily find and support promising startups.
  2. Some key performance indicators (KPIs) have been shown to correlate with the success of funds. For example, funds scoring above 30% on specific KPIs are much more likely to provide high returns.
  3. While data-driven strategies are helpful, they aren't perfect. Investors still need solid experience and networks to truly understand fund performance and secure access to the best opportunities.

"Land & Expand" To Improve Your Odds of Getting to Yes With a VC | VC Remote Jobs & More

Venture Curator • 299 implied HN points • 10 Nov 23
💼 Business Venture Capital
  1. Raising capital from VCs is a sales & marketing process where you're selling trust and confidence in the future of your company. Building trust with VC partners and understanding their decision dynamics can increase your odds of success.
  2. Each VC firm has a unique decision-making process, so it's crucial to know the firm's partner structure, how decisions are made, and the role of non-partner staff. Building relationships with multiple team members before the final decision meeting can improve your chances.
  3. To secure funding from VCs, go beyond just your sponsoring partner - engage with multiple staff members, understand the decision dynamics within the firm, and address biases and concerns in advance. Building broad relationships within the VC firm can increase the likelihood of a positive outcome.

Spotlight: Michael Mealling - General Partner @ Starbridge Venture Capital

Space Ambition • 79 implied HN points • 03 May 24
💼 Business Venture Capital
  1. The key to successful investing in spacetech is understanding market structures and leveraging a strong network. This helps in identifying real opportunities amid hype.
  2. Using the Integrated Space Plan (ISP) aids in spotting gaps and potential growth areas in the industry. It's important to ensure there are actual customers for new technologies.
  3. When reaching out to potential investors, concise and clear pitches about the business model are crucial. It's more effective to focus on solving customer problems rather than just showcasing technology.

The VC Corner 📰 #6

The VC Corner • 219 implied HN points • 30 Dec 23
💼 Business Venture Capital
  1. This newsletter provides valuable news and resources for people in the startup and venture capital world. It's great for both experienced investors and beginners.
  2. By subscribing, you get access to weekly insights that can help you stay informed about the latest trends and developments in startups.
  3. There's a free trial option available, so you can explore the content without any initial commitment.

The Business of Venture Capital

Insight Axis • 296 implied HN points • 05 Nov 23
💼 Business Venture Capital
  1. Venture capital began from the dot-com bubble era, where tech entrepreneurs set up investment firms to fund new, high-growth technology companies.
  2. VCs specifically invest in early stage companies with potential for rapid growth and huge profits, aiming to 10x their investment in 5 years.
  3. Venture capital faces challenges like misaligned incentives, high-risk investments, and the need to balance finding unicorns without funding too many duds.

Spotlight: Jonathan Lacoste - General Partner @ Space.VC

Space Ambition • 179 implied HN points • 26 Jan 24
💼 Business Venture Capital
  1. Investing in space tech has huge potential. It's becoming a key part of important industries like defense, agriculture, and communication.
  2. When looking to invest early, focus on the founding team and the size of the customer market. Successful relationships can be built before a product even exists.
  3. Finding big problems to solve is better than starting with a tech idea. Look for large markets that could benefit from smart space applications.

YC Partner: Avoid These Tempting Startup Ideas - Tarpit Ideas | VC Remote Jobs & More

Venture Curator • 179 implied HN points • 25 Jan 24
💼 Business Venture Capital
  1. Avoid 'Tarpit Ideas' in startups, which have an oversupply of founders but low market demand.
  2. Consumer startups are risky due to high competition, user demands, and timing challenges.
  3. Identify Tarpit Ideas by spotting survivor bias, seeking second-order innovations or difficult-to-scale ideas, and pivot by understanding supply-demand dynamics.

How to Exit

The Generalist • 520 implied HN points • 10 Dec 24
💰 Finance Venture Capital
  1. Exiting from investments is just as important as entering them. Investors need to remember that cashing out is a key part of the venture capital game.
  2. Secondary transactions are becoming more common and important. Investors must learn how to handle these types of deals to benefit from changing market conditions.
  3. Understanding when and how to sell in the secondary market is crucial. Knowing the right timing can help investors meet their targets and provide returns to their supporters.