The hottest Venture Capital Substack posts right now

And their main takeaways
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Deal of the Week: Flutterwave acquires Mono in Africa's first YC-to-YC exit

Afridigest • 19 implied HN points • 05 Jan 26
💼 Business Venture Capital
  1. Flutterwave has acquired Mono in an all-stock deal reported around $25–40M (insiders say $30M), and Mono will continue operating independently while the transaction awaits approvals.
  2. The deal combines Flutterwave’s payments platform with Mono’s open banking APIs, letting the combined business offer account-to-account payments, KYC, bank verification, and data-driven risk tools in one stack.
  3. This move signals growing consolidation and pragmatism in African fintech as open banking pioneers face regulatory and market challenges, and while some investors show paper gains, actual liquidity from the swap remains uncertain.

Founders, you’re being quietly screwed by VCs

Five Links (and three graphs) by Auren Hoffman • 129 implied HN points • 11 Aug 25
💼 Business Venture Capital
  1. Many founders don’t realize that a clause in their term sheet can take away their voting rights if they stop working at the company. This is often overlooked and can lead to significant power loss for founders.
  2. This clause is meant to protect against rogue founders who might cause trouble after leaving, but it often ends up hurting the good founders instead.
  3. Founders should carefully check their term sheets for voting rights related to employment. Understanding these terms can help them avoid losing influence in their own companies.

Networked Conviction 002

Investing 101 • 9 implied HN points • 24 Jan 26
💰 Finance Venture Capital
  1. India’s tech scene is following a path similar to China’s around 2010, which suggests a big multi-year opportunity as local companies scale and markets mature.
  2. The idea that "software always wins" is overextended—software valuations and expectations are cooling, so investors should be more selective and update their outlooks.
  3. A rapid, raw approach to sharing investment ideas helps surface connections between theses and exposes where real conviction (or doubt) lies.

Crypto VC Landscape

DeFi Education • 739 implied HN points • 14 Feb 23
🔮 Crypto Venture Capital
  1. Venture capital funds invest in startups at different stages, from early ideas to companies preparing for IPOs. Most startups, especially in crypto, face high failure rates, so VCs take big risks with their investments.
  2. Crypto VCs can get returns faster than traditional VCs because they can exit investments within about a year after a startup issues tokens. This liquidity aspect makes crypto investments different and often more attractive.
  3. In 2022, despite a tough market, crypto and blockchain startups still received significant funding. However, VCs shifted towards later-stage deals, showing a cautious approach in these challenging times.

Making Markets in Time

Pivotal • 394 implied HN points • 25 Jan 25
💼 Business Venture Capital
  1. Silicon Valley focuses on 'temporal arbitrage', which is about making money over time by investing at different stages of a startup's growth. This helps investors bridge gaps between early ideas and established companies.
  2. The modern venture capital system divides funding into specific stages, like seed and series rounds. Each investor specializes in different stages, making the process smoother and more efficient.
  3. Success in venture capital often comes from being part of a shared consensus on what makes a company fundable. Investors try to follow trends rather than go against the grain to align with what other investors believe.
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The VC Corner 📰 #8

The VC Corner • 179 implied HN points • 13 Jan 24
💼 Business Venture Capital
  1. Carta is facing accusations of unethical practices, which could impact its reputation in the industry. It's a reminder that businesses need to act ethically to maintain trust.
  2. To become a sales-focused founder, there are key steps to follow. Focusing on sales can help drive growth and success for startups.
  3. The outlook for healthcare in 2024 is being discussed. Understanding trends in healthcare can help investors and startups prepare for future opportunities.

Modern Meditations: Rebecca Kaden

The Generalist • 1601 implied HN points • 14 Sep 23
💼 Business Venture Capital
  1. Rebecca Kaden emphasizes the power of stories in both venture capital and publishing.
  2. She highlights the importance of technology taking accountability for its negative impacts.
  3. Rebecca values the slow and thoughtful approach to building iconic structures, contrasting it with the fast pace of tech entrepreneurship.

data-driven VC is over

State of the Future • 323 implied HN points • 25 Feb 25
💼 Business Venture Capital
  1. The way we research and develop investment ideas in venture capital is changing. Now, smaller firms can compete with big players because information is easier and cheaper to access.
  2. As everyone starts using the same data and insights, decision-making might become more about trusting your instincts than just following numbers. Investors might need to rely on what's not obvious or data-driven.
  3. The most successful investors in the future will be those who combine experience and wisdom with their specialized knowledge. It's not just about the data anymore; understanding what truly matters will set them apart.

VC Don't Care About LTV/CAC Ratio ? | Hacking the VC process: Maximise Your Chance Of Getting Funded | VC Remote Jobs and More

Venture Curator • 299 implied HN points • 06 Oct 23
💼 Business Venture Capital
  1. Investors obsess over the LTV/CAC ratio to gauge the potential return on investment and look for 'just-add-money opportunities.'
  2. Not all customers are equal; focusing on high-LTV customers can optimize customer acquisition efforts.
  3. VCs focus on CACD (Customer Acquisition Cost Doubled) to assess the time taken to recoup investments, emphasizing the importance of velocity over just the LTV/CAC ratio.

'You Can’t Raised Funding Without Using Old Sales-Marketing Funnel’ : Y-Combinator | VC Remote Jobs & More

Venture Curator • 219 implied HN points • 04 Dec 23
💼 Business Venture Capital
  1. Raising funding requires utilizing the old sales-marketing funnel, according to Y-Combinator.
  2. Fundraising is a sales & marketing process and needs to be diligently managed, like any other sales campaign.
  3. Focus on engaging with the right investors, prioritize time management, and continuously work on building and managing a strong pipeline of potential investors.

How to Stop Worrying and Start a Company

The Generalist • 1140 implied HN points • 06 Feb 24
💼 Business Venture Capital
  1. Consider seeking advice and permission from trusted individuals before making a big career move.
  2. Spend time with other founders to learn from their experiences and normalize the risks of entrepreneurship.
  3. Assess your market value and consider entrepreneurship as a way to capitalize on your true worth.

Why Founders Are Afraid to Talk About MOAT? | Should Founders Work By Vision or Data? | VC Remote Jobs & More

Venture Curator • 199 implied HN points • 15 Dec 23
💼 Business Venture Capital
  1. Founders should focus on building a strong 'moat' for their startup, which is like a set of characteristics that make it hard for other companies to compete.
  2. Tech is no longer a strong moat for startups, as it can be easily replicated, but factors like community, trust, and network effects are more valuable.
  3. Successful companies like Spotify built their moat not just on technology, but on bold statements and innovative experiences that stand out in the market.

How Can You Use Airbnb's & Stripe's Strategy To Build Your MVP? | The First Six Month Of Fundraising For NVIDIA | VC Remote Jobs & More

Venture Curator • 199 implied HN points • 11 Dec 23
💼 Business Venture Capital
  1. Successful startups focus on building a Minimal Viable Product (MVP) with the 'Viable' part being crucial, not just the 'Minimal' part.
  2. Key to MVP success is launching quickly, getting feedback from customers, and iterating based on that feedback.
  3. Early adopters are crucial for testing MVPs; founders should build products for customers with urgent needs, even if the MVP is not perfect.

There is no 3x growth investment

Parth's Playground • 38 implied HN points • 12 Nov 25
💼 Business Venture Capital
  1. There isn't a guarantee of tripling your money in new businesses. Startups are still figuring things out, so making precise predictions can be tricky.
  2. Some investors wrongly believe they’re making safe investments like Canada Goose, but in reality, many growth investments fail completely.
  3. It's more effective to look for investments that could potentially return ten times your money instead of trying to pin down a three times return, especially since venture investments often don't follow the same rules as private equity.

Artisan

Venture Prose • 299 implied HN points • 26 Mar 23
💼 Business Venture Capital
  1. To survive as a generalist seed investor, understand founders' emotions and engage with genuine care and support.
  2. When interacting with founders, focus on understanding, asking thought-provoking questions, and articulating key issues to help them progress.
  3. In the world of seed investing, competitiveness matters, but it's crucial to prioritize meaningful connections over unnecessary competition.

Don't Fall In Trap Of Tarpit Ideas, It's Worst Than Bad Ideas, Why? | Consumer Startups - Tarpit Ideas? | VC Remote Jobs & More

Venture Curator • 219 implied HN points • 18 Nov 23
💼 Business Venture Capital
  1. Tarpit ideas are worse than bad ideas and can trap entrepreneurs into wasted time and resources.
  2. Many consumer startup ideas end up being tarpit ideas, as they seem simple but are challenging to execute successfully.
  3. To succeed in the startup world, founders need to recognize tarpit ideas early, pivot strategically based on supply-demand dynamics, and focus on building high-quality, in-demand products.

Teardown: How Linkby raised its $15M Series B in 90 days

Superfluid • 106 implied HN points • 06 Aug 25
💼 Business Venture Capital
  1. Preparing well before fundraising helps you make a strong pitch. It allows you to communicate your business's value clearly and confidently when talking to investors.
  2. Maintaining momentum during the fundraising process is crucial. Responding quickly to investor inquiries and scheduling meetings efficiently keeps the interest alive and increases your chances of success.
  3. Having a focused approach with targeted investor meetings creates pressure. This helps investors make decisions faster, which can lead to better outcomes for your fundraising efforts.

#33 Episode - QSBS 2.0 is Here

Law of VC • 134 implied HN points • 08 Jul 25
💰 Finance Venture Capital
  1. The new QSBS rules allow taxpayers to earn up to $15 million tax-free on small business stock if held for just three years instead of five. This makes it easier for investors and founders to cash out sooner.
  2. Companies with gross assets below $75 million can now qualify, up from $50 million. This change helps more young businesses benefit from the QSBS tax advantages.
  3. Investors now have better chances to benefit from tax-free gains as early exits are encouraged. This can lead to more investment and innovation in startups.

Why Your Startup Idea Isn’t Big Enough for Some VCs? | Understanding Churn and Building Action Plan | Product Market Fit Misconceptions | VC Remote Jobs & Internship

Venture Curator • 259 implied HN points • 01 Sep 23
💼 Business Venture Capital
  1. VCs expect startup ideas with huge potential for returns, as a single successful investment can make all the difference.
  2. Reducing churn and increasing net retention are crucial for startups, as customer retention is key for sustainable growth.
  3. Many founders misunderstand Product-Market Fit (PMF) - it's not just about revenue growth, but deeper market validation.

Marc Andreessen"You Can't Build A Successful Company Without Thinking On Idea Maze !"| VC Remote Jobs & More

Venture Curator • 199 implied HN points • 24 Nov 23
💼 Business Venture Capital
  1. Good startup ideas are well-developed, multi-year plans that consider various paths and changes in the market, known as the Idea Maze.
  2. The Idea Maze concept helps founders think strategically about their company's journey, by mapping out potential paths to success or failure.
  3. When navigating the Idea Maze, founders can gain insights from history, analogies, theories, and direct experience to make informed decisions.

Networked Conviction 003

Investing 101 • 4 implied HN points • 06 Feb 26
💰 Finance Venture Capital
  1. Big, durable businesses often hide in plain sight — legacy financial firms, grungy enterprise software, and mineral-rights plays can be ‘sneaky giants’ with steady cash flows and entrenched advantages.
  2. The best opportunities come from noticing overlooked, messy sectors where scale and resilience aren’t obvious, and where small structural edges compound into big moats.
  3. Clear investment insights take time and reflection — ideas crystallize through board meetings, updated marks, and repeated conversations, so consistent journaling and revisiting thoughts matters.

VCs Beyond The Meme

Investing 101 • 133 implied HN points • 28 Jun 25
💼 Business Venture Capital
  1. Understanding your 'why' is important for anyone starting in venture capital. It helps guide your actions and decisions in the industry.
  2. Building a strong network through existing relationships and new connections is key. Engage with people genuinely, listen to them, and focus on helping others.
  3. Having many conversations can create valuable connections. Even if not everyone you meet is a founder, the network you build is still beneficial and can lead to new opportunities.

How Do Investors Protect Themselves from Downrounds Through Weighted Average Anti-Dilution Protection? | Paul Graham's Article & More

Venture Curator • 239 implied HN points • 24 Jul 23
💰 Finance Venture Capital
  1. Investors use Anti-Dilution Protection to safeguard against down-round situations, like Stripe's valuation decrease from $90 billion to $50 billion.
  2. There are two types of Anti-Dilution Protection: Full Ratchet and Weighted Average, each impacting investor ownership differently.
  3. Weighted Average Anti-Dilution Protection involves calculating new share conversion prices to adjust ownership percentages after a down round, ensuring fair investor protection.

How Do LPs Evaluate VC Fund Performance? | How Much Should You Raise For Your Startup? | Small vs Large Market Focus | VC Remote Jobs & Internships

Venture Curator • 239 implied HN points • 04 Sep 23
💼 Business Venture Capital
  1. Limited Partners (LPs) evaluate the performance of a VC fund using terms like DPI, RVPI, and TVPI.
  2. When raising funds for a startup, VCs look for reasonableness in the amount raised relative to progress and goals. The amount raised can reflect valuation expectations and the company's runway.
  3. Understanding financial factors like cash in, cash out, and achieved milestones can make VC meetings smoother and increase the chances of getting funded.

Understand Math Behind Secondary Sales, Measuring Startup Tractions, VC Daily Digest & More

Venture Curator • 239 implied HN points • 31 Jul 23
💼 Business Venture Capital
  1. Secondary sales involve shareholders selling shares to buyers, different from primary sales where new shares are issued.
  2. Understanding the math behind secondary sales helps grasp ownership changes and value fluctuations for founders and investors.
  3. Evaluation of startup traction can be challenging for VCs due to factors like new markets, inexperienced founders, and limited financial history.

8 Signs Your Startup Is a Zombie and 3 Things to Do About It ! | VC Remote Jobs & More

Venture Curator • 159 implied HN points • 22 Dec 23
💼 Business Venture Capital
  1. Recognize the signs of a 'zombie' startup, like stagnant growth and constant need for funding, to avoid being unattractive to investors.
  2. Decide whether to accept failure, pivot the business model for exponential advantage, or explore opportunities for acquihire when a startup is struggling.
  3. Knowing when to quit or pivot is essential for startup success - sometimes failure can lead to growth opportunities or valuable lessons learned.

Welcome to my Substack!

The Uncommon Executive • 99 implied HN points • 22 Feb 24
💼 Business Venture Capital
  1. Yue Zhao is passionate about helping minorities succeed in the business world, as she believes the best opportunities are unfairly distributed to white men.
  2. Yue Zhao started her career in engineering, worked at prestigious companies like McKinsey, Thumbtack, and Instagram, and is now a venture partner at LifeX Ventures.
  3. Yue Zhao aims to use her Substack newsletter to share insights and advice to help minorities and women advance in their careers and personal lives.

Thinking about Writing Down your Investment?

SaaS Engineering • 137 implied HN points • 07 Jan 24
💰 Finance Venture Capital
  1. Understanding the difference between preferred and common stock is crucial for calculating holding values.
  2. Writing down investments only makes sense if a company's value decreases below the size of its liquidation preference relative to the investment.
  3. High valuations may not always benefit investors due to misaligned incentives, especially in scenarios where the company's valuation is higher than its true worth.

Where Do The Great Startup Ideas Come From - Stripe & Airbnb Case?| OpenAI Saga Explained | VC Remote Jobs & More

Venture Curator • 179 implied HN points • 21 Nov 23
💼 Business Venture Capital
  1. Startups like Airbnb, Coinbase, and Stripe succeeded by challenging existing players and aiming to do things 10 times better, turning competition into inspiration.
  2. Successful founders like those of Airbnb and Stripe ignored naysayers and pursued their wild ideas, pushing through doubt and expert skepticism.
  3. Timing, unique ideas, and unexpected market sizes played key roles in the success stories of startups like Airbnb, Stripe, and Coinbase, showing that unconventional approaches can lead to great outcomes.

The Game-Changing Clause For Entrepreneur , VC Funds Are Mostly Just Wasting Their Time and Your Money, VC Jobs & More

Venture Curator • 219 implied HN points • 19 Aug 23
💼 Business Venture Capital
  1. In negotiating convertible notes, entrepreneurs should include a clause to prevent early investors from taking advantage of rising valuations.
  2. A study by Morgan Stanley calls into question the superior returns claimed by VC funds, highlighting challenges and inconsistencies in the industry.
  3. Investors often face struggles in accurately valuing equity in VC investments due to complex structures, contributing to potential overvaluation.

Spotlight: Rob Desborough - Managing Partner @ Seraphim Space & CEO Seraphim Space Accelerator

Space Ambition • 219 implied HN points • 25 Aug 23
💼 Business Venture Capital
  1. Rob Desborough leads a major space-focused venture capital firm that helps many spacetech startups grow. They are not only funding new space ideas but also managing a special trust that invests in this sector.
  2. There is a growing interest in spacetech investments, with more people and companies getting involved. Recent years have seen a rise in new investors and significant funding, especially in Europe and Asia.
  3. Space technology is now focused on important issues like climate change and global security. The industry is looking at exciting areas like sustainability and space mining to solve big problems on Earth.