The hottest Venture Capital Substack posts right now

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Hidden Clauses In The Term Sheet that Every Founder Should Know | 2008 Venture Capital Market Recovery | How To Convince Investors? | VC Remote Jobs & Internships and More

Venture Curator • 219 implied HN points • 08 Sep 23
💼 Business Venture Capital
  1. Understanding hidden clauses in term sheets is crucial for founders to avoid disputes and confusion in the future.
  2. Knowing the economic aspects of term sheets, such as valuation, investment amount, and anti-dilution, can help founders negotiate effectively with VCs.
  3. Founders and investors should remember that a term sheet is a tool for communication and does not guarantee success; a strong business does.

Why it's Better To Raise Less Capital In The First Round? | Don’t Waste Time Chasing Investors | How To Convince Investors | VC Jobs & More

Venture Curator • 219 implied HN points • 28 Aug 23
💼 Business Venture Capital
  1. Start Small, Stay Nimble: Raising less capital in early stages allows flexibility for strategic adjustments while maintaining control.
  2. Small Beginnings, Bigger Rewards: As your startup proves its worth, raising less initially can lead to diluting fewer shares and higher valuations later on.
  3. Grow Smarter, Stronger: Strategic use of capital matters more than the amount raised, like nurturing a seed to watch your startup grow into a mighty oak.

How a Convertible Note Converts During Priced Round (e.g- Series A, B) ? | 2008-09 Global Startup Ecoystem & More

Venture Curator • 219 implied HN points • 10 Jul 23
💼 Business Venture Capital
  1. Convertible notes convert in three ways: Pre-money Method, Percentage Ownership Method, Dollars Invested Method, catering to different preferences of founders and investors.
  2. Key parameters to consider in evaluating a convertible note include Discount Rate, Valuation Cap, Interest Rate, and Maturity Date, which affect the conversion process during priced rounds like Series A or B.
  3. Understanding the math behind the conversion of convertible notes during priced rounds involves calculations based on factors like pre-money valuation, discount rates, and valuation caps, influencing the final ownership percentages.

5M

Sriram Krishnan’s Newsletter • 216 implied HN points • 01 Aug 23
💼 Business Venture Capital
  1. Investors use frameworks like the 5M framework to categorize and assess startups.
  2. Having frameworks in place upstream makes it easier to make investment decisions downstream.
  3. Different Ms in the 5M framework are applied as startups progress from idea to product to traction.
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Letter #72: Don Valentine (2000)

A Letter a Day • 216 implied HN points • 11 Apr 23
💼 Business Venture Capital
  1. Venture capitalists should focus on building great, lasting companies.
  2. Short-term, get-rich-quick investments can harm the innovation and progress of the industry.
  3. Long-term commitment to building sustainable companies can lead to significant market impact and success.

Fortune tellers

Klement on Investing • 3 implied HN points • 13 Feb 26
💰 Finance Venture Capital
  1. Chinese investors often use superstitions like horoscopes when making investment decisions, showing a cultural difference from the West.
  2. A lab experiment found positive Chinese fortune-telling reports raised willingness to invest by over 20 percentage points, and Chinese horoscopes influenced choices more than Western ones.
  3. Worryingly, venture capital managers were even more swayed than individual investors, so these beliefs can meaningfully affect market behavior.

Hidden Trap Of Convertible Note and Liquidation Preference Multiples | Marc Andreessen On Risk-Cash Relation | VC Remote Jobs & More

Venture Curator • 179 implied HN points • 13 Nov 23
💼 Business Venture Capital
  1. One should be aware of the hidden traps of convertible notes and liquidation preference multiples, especially in funding rounds.
  2. Founder should keep the liquidation preference multiples in check to prevent undesired outcomes for themselves.
  3. To tackle the impact of multiple liquidation preferences, founders can consider issuing sub-series of preferred stock for protection.

How to Talk About Valuation Numbers When Investor Ask? | VC Remote Jobs & More

Venture Curator • 179 implied HN points • 06 Nov 23
💼 Business Venture Capital
  1. When discussing valuation with investors, avoid naming a specific price but instead give a general range to 'anchor' them and test their reaction.
  2. Be prepared to discuss your past fundraising, including the post-money valuation and amount raised, as VCs use this information to assess fit and potential issues.
  3. When asked if existing investors are participating in the round, balance showing their support with the need to meet new investor expectations while maintaining good relationships.

Letter #154: Josh Kushner and Kareem Zaki (2023)

A Letter a Day • 98 implied HN points • 10 Feb 24
💼 Business Venture Capital
  1. When starting a venture capital firm, consider going against conventional wisdom and focus on a unique approach. Josh Kushner and Kareem Zaki emphasize the importance of building a firm that is hands-on and sector-agnostic, going beyond traditional boundaries in investment strategies.
  2. In consumer investments, look at trends like the rise of creators and the power of brands. Thrive Capital highlights the significance of coupling an extraordinary product with strong brand presence across different industries, not just limited to direct-to-consumer businesses.
  3. Consider major life decisions beyond a specific industry. The intersection of software and hardware, growth in healthcare technology, and trends like brain-machine interfaces offer promising investment opportunities. Keeping a flexible mindset and being able to adapt to fast-paced changes is crucial in today's evolving landscape.

Hidden Trap Of Convertible Note and Liquidation Preference Multiples | Getting First 1000 Customers | Weekend's Reading & More

Venture Curator • 199 implied HN points • 28 Jul 23
💼 Business Venture Capital
  1. Convertible notes can have hidden traps with liquidation preference multiples, impacting founders and investors.
  2. Founders can issue sub-series of preferred stock to protect themselves from inflated liquidation preferences.
  3. Finding the first 1000 customers is challenging, requiring experimentation with different strategies and channels.

How VCs Make High-Quality Investment Decisions? | Why Top 1% Of Founders Quit Their Startup? | Best Traits That Investors Look In Founders | VC Remote Jobs and More

Venture Curator • 199 implied HN points • 11 Sep 23
💼 Business Venture Capital
  1. Understanding the Venture Capital Method can help founders grasp how investors evaluate startups and make high-quality investment decisions.
  2. Top 1% of founders often quit due to factors like loss of control, pressure for results, and personal finance realities, emphasizing the importance of mental health in entrepreneurship.
  3. Investors look for specific traits in founders, such as resilience, integrity, and adaptability, when deciding to fund startups, underscoring the significance of founder characteristics.

Decoding Liquidation Preference, Particiaption & Non-Participation Rights? | YC Startup Index Gives 176% Return | VC Funding Report | Weekend Readings & More

Venture Curator • 199 implied HN points • 07 Jul 23
💰 Finance Venture Capital
  1. Understanding terms like 1x participation and non-participation is crucial for founders and investors in startup financing to protect their investments.
  2. Having a 1x non-participation liquidation preference can be advantageous for founders during company liquidation to ensure returns.
  3. YC Startup Index shows a remarkable 176% average annual return, surpassing other asset classes and venture capital funds.

What Every Founder Should Know About Valuations? | Is The VC Investment Model Broken? | VC Remote Jobs and More

Venture Curator • 199 implied HN points • 29 Sep 23
💼 Business Venture Capital
  1. Valuation of a company is determined by factors like the stage of the company, funding competition, leadership team experience, market size, and financial performance.
  2. The VC investment model is facing challenges due to factors like high interest rates, late-stage investments yielding lower returns, and the importance of profitability.
  3. Companies don't always need to calculate their value when fundraising; options like convertible notes and SAFEs allow for postponing valuation to later rounds to avoid potential dilution.

Understand All About SAFE | AI’s $200B Question: Long Term’s Good, Short Team Messy! | VC Remote Jobs and More

Venture Curator • 199 implied HN points • 02 Oct 23
💼 Business Venture Capital
  1. Understanding SAFE Agreement - No Debt and No Equity. A different funding option for startups that doesn't fit traditional categories.
  2. 5 Types of SAFE Notes explained with examples. Different scenarios of how a SAFE investment can convert and affect valuation.
  3. Considerations about AI and GPU investments. Long-term benefits versus short-term challenges in the AI industry, highlighting the need for innovative startups to create real value.

The VC Corner 📰 #4

The VC Corner • 139 implied HN points • 15 Dec 23
💼 Business Venture Capital
  1. Venture capital news is important for anyone involved in startups. Staying updated helps investors and teams make better decisions.
  2. The newsletter offers resources and insights that can guide new and experienced investors alike. It’s a useful tool for the venture capital community.
  3. A free trial is available to explore past posts. This makes it easy for readers to see if the content fits their needs.

✨ Building a Modern Constellation Software

Overlooked by Alexandre Dewez • 196 implied HN points • 17 Apr 23
💼 Business Venture Capital
  1. The world has changed since the inception of Constellation Software in 1995.
  2. A new player cannot directly compete with Constellation Software's acquisition strategies and existing relationships.
  3. Building a modern software conglomerate would require focusing on growth, quality, and building synergies rather than mimicking Constellation Software's exact model.

China’s evolving global tech expansion – a lens from the Middle East

Christopher’s Newsletter • 196 implied HN points • 28 Sep 23
💼 Business Venture Capital
  1. Conversations in the world of tech startups are often bottom-up, driven by new generations and their enterprises.
  2. Chinese tech companies serve as models for innovation globally, navigating challenges not typically seen in the West.
  3. Global expansion of tech will be driven by opportunity costs, market accessibility, and localization efforts in different regions.

Why it's Better To Raise Less Capital In The First Funding Round? | Finding Early Adopters For Your MVP! | VC Remote Jobs & More

Venture Curator • 139 implied HN points • 08 Dec 23
💼 Business Venture Capital
  1. Start Small, Stay Nimble: Raising less capital early on gives flexibility for strategic adjustments while retaining control.
  2. Small Beginnings, Bigger Rewards: Raising less initially leads to diluting fewer shares later as the startup's valuation naturally increases.
  3. Grow Smart, Grow Strong: It's not about the amount of capital raised but how strategically it is used for smarter growth.

Five Links for August 2025

Five Links (and three graphs) by Auren Hoffman • 81 implied HN points • 03 Aug 25
🕹 Technology Venture Capital
  1. Data businesses can be profitable but may not be suitable for venture capital. It's important to know which funding methods fit your business model.
  2. The consulting industry is facing challenges due to changes in technology and market needs, making it a ripe target for disruption.
  3. Sunlight might have health benefits for autoimmune diseases. Research shows that UV light can help improve conditions like multiple sclerosis.

YC, Alchemist, Gitex want robot startups!

Robots & Startups • 59 implied HN points • 01 Apr 24
💼 Business Venture Capital
  1. Y Combinator, Alchemist, and Gitex are seeking robot startups for various programs and events.
  2. Startup accelerator programs like Alchemist Accelerator have specific criteria for founders and offer opportunities for nominations and fast-tracked interviews.
  3. There are numerous deadlines for startup calls in diverse fields like mobility, med devices, and deep tech, along with events like the Gitex Global in Dubai.

90% Of Founders Can't Build Successful MVP: Don't Be One | End of SaaS Is Closer | VC Remote Jobs & More

Venture Curator • 179 implied HN points • 20 Oct 23
💼 Business Venture Capital
  1. Building a successful MVP involves focusing on the 'viable' aspect, listening to customer feedback, and iterating for improvement.
  2. 90% of startup founders fail at building successful MVPs due to not grasping the true essence of MVP and focusing solely on building a product.
  3. Successful startups like Airbnb, Twitch, and Stripe started with basic MVPs, appealing to early adopters and iterating based on user feedback.

Timing Is The Single Biggest Reason Why Startups Succeed! | On the Life & Death of Y Combinator Startups | VC Remote Jobs and More

Venture Curator • 179 implied HN points • 17 Oct 23
💼 Business Venture Capital
  1. Timing is crucial for startup success - knowing when to enter a market can make or break a startup
  2. Different types of markets affect a startup's fate: small market not growing, large market with past growth, being too early, or small market growing quickly
  3. Entrepreneurs should focus on being in a small market that is growing rapidly to increase chances of success

The Ultimate Startup Quest: Building Something Special (in VC)

Equal Ventures • 99 implied HN points • 25 Jan 24
💼 Business Venture Capital
  1. Equal Ventures focuses on proactive research and industry connectivity to have a point of view on markets and build thoughtful partnerships with founders.
  2. Equal Ventures supports founders with continuous learning, frameworks, and best practices to help them navigate challenges and succeed in their industries.
  3. Equal Ventures' slow investment pace allows for deep alignment and meaningful support for portfolio companies, building long-term relationships beyond current roles.

Venture Capital Unbundled

Investing 101 • 235 implied HN points • 18 Jan 25
💰 Finance Venture Capital
  1. Venture capital is shifting away from big brands and focusing more on individual investors. People want to work with specific individuals who they feel are genuine and relatable.
  2. Many investors are moving around to find better opportunities or roles, but this trend is also about the changing business model in venture capital. Investors are looking for ways to adapt and thrive in a new landscape.
  3. The term 'venture capital' is becoming less useful as it tries to cover many different investment strategies. There is a need for diverse approaches and voices in building startups, which is exciting and refreshing.

Spotlight: Raffaele Mauro – GP @ Primo Space

Space Ambition • 319 implied HN points • 31 Mar 23
💼 Business Venture Capital
  1. Investing in space technology is exciting because it combines finance, innovation, and many different industries like hardware and software. There's a lot of potential to create solutions that can improve our world.
  2. Italy is a great place for space tech startups due to its talented engineers and strong support from the government. Recent investments are creating a vibrant ecosystem that nurtures innovation in the space sector.
  3. Space tech startups face challenges in adapting to the changing market and managing cash flow. Founders need to be flexible, resourceful, and ready to work with investors who can take on risks to succeed.

Questions VCs Will Ask You! | Positioning Your Startup is Vital, How To Do It? | VC Remote Jobs and More

Venture Curator • 179 implied HN points • 09 Oct 23
💼 Business Venture Capital
  1. A great team is crucial for a startup's success, and investors will ask questions to understand how the team came together, their motivations, and any key gaps that need to be filled.
  2. When pitching to investors, be prepared to explain your product clearly, its target market, the problem it solves, and how it stands out. Investors want to know if customers will seek out and pay for your product.
  3. Investors focus on the market size, growth potential, competition, and go-to-market strategy when evaluating startups. Having a clear positioning statement and understanding your market's total addressable market are key.

Don't Send All 'Your Data To Investors' Too Early In The Process: The Counter-Intuitive Fund-Raising Advice | VC Remote Jobs & More

Venture Curator • 139 implied HN points • 29 Nov 23
💼 Business Venture Capital
  1. Avoid sending all your data to investors early on in the fundraising process, as it can hinder progress.
  2. Getting the first meeting with a VC might not be easy, but follow-up meetings can be harder to secure.
  3. Creating a data room and providing access too soon can lead to a lack of engagement from investors, leading to a failed fundraising process.

Ambiq’s IPO is good fun, and 7 Q2 '25 VC data points

Alex's Personal Blog • 98 implied HN points • 08 Jul 25
💼 Business Venture Capital
  1. Ambiq is going public earlier than usual, which is exciting. They make chips for AI devices, and by leaving China, they are boosting their profits.
  2. Core Scientific's shareholders are unhappy about a deal with CoreWeave because the deal is risky. If CoreWeave's stock drops before the deal closes, it could be worth less than expected.
  3. In Q2 2025, US startups saw a lot of investment, especially in AI. Early-stage startup valuations are at record highs, showing a strong interest in new ventures.

Decoding Sequoia Capital: How Do They Dominate the VC Landscape?

Venture Curator • 199 implied HN points • 12 Jun 23
💼 Business Venture Capital
  1. Sequoia Capital is a powerhouse in the VC landscape, known for remarkable strategies that have led to unprecedented success.
  2. Sequoia has an impressive track record of investing in one in five private unicorns globally, with a focus on disruptive products and founders with technical knowledge.
  3. Key figures at Sequoia, like Don Valentine and Doug Leone, have distinct investment philosophies highlighting the importance of market potential, strong founding teams, and learning from failures.

Why Do VC Firms Want an Option Pool Before the VC Round? | Lessons from the Dot-Com Era for Generative AI Hype| How Startups Use VC Funds to Invest in Other Startups? | VC Remote Jobs and More

Venture Curator • 179 implied HN points • 15 Sep 23
💼 Business Venture Capital
  1. VC firms prefer having an option pool before the funding round to ensure proper allocation of shares and ownership percentages among founders, investors, and future employees.
  2. Lessons from the Dot-Com era suggest parallels with the current Generative AI hype, highlighting potential trends in commoditization, emergence of innovative disruptors, and advice for startups to focus on long-term goals.
  3. Startups often reinvest VC funds into other startups, showcasing a trend seen during peak market craziness, where companies like Stripe and Coinbase made significant investments.

The Babe Ruth Effect in Venture Capital | When To Prioritize Growth Over Profitability? | VC Remote Jobs and More

Venture Curator • 179 implied HN points • 22 Sep 23
💼 Business Venture Capital
  1. The concept of the 'Babe Ruth Effect' in venture capital explains the importance of evaluating investments based on expected value analysis to achieve superior performance
  2. Deciding between prioritizing profitability or growth in startups depends on factors like market dynamics, access to funding, and business model, and it's crucial to understand where to focus at an early stage
  3. Successful venture capital funds exhibit a 'Babe Ruth Effect' by having more 'home run' investments of greater magnitude, even though they may also have a higher percentage of investments that lose money

What's Better Than Product Market Fit (PMF)? It's Product Market Distribution Fit (PMDF) | Tips For Negotiating Valuation With Investors | VC Remote Jobs and More

Venture Curator • 179 implied HN points • 25 Sep 23
💼 Business Venture Capital
  1. Achieving Product Market Distribution Fit (PMDF) is crucial for startup success, not just Product Market Fit (PMF). Channel selection plays a vital role in reaching target customers.
  2. Early investment in sales and marketing can lead to better business outcomes than solely focusing on product quality.
  3. Efficient distribution channels are essential for startup growth; understanding Customer Acquisition Cost (CAC) and Lifetime Value (LTV) ratio is key in achieving success.

How Did The Great Startups Like Airbnb or Instagram Make Pivot Decisions? | VC Remote Jobs & More

Venture Curator • 139 implied HN points • 27 Nov 23
💼 Business Venture Capital
  1. Pivoting in startups often involves changing direction when things aren't going as planned, but it should not be glorified as success.
  2. Successful startups approach pivoting as a learning experience rather than a badge of honor, with most effective pivots driven by passion or necessity.
  3. Not all pivots are equal; those driven by genuine passion or necessity tend to be more successful than those just brainstormed on a whiteboard.

The Holding Companies of Our Hearts

Investing 101 • 87 implied HN points • 12 Jul 25
💼 Business Venture Capital
  1. Everyone allocates resources, not just money, but also time and attention. People are basically investors in their own lives.
  2. Successful capital allocation is more about making smart, strategic decisions than just having money to spend. Great examples include companies like Berkshire Hathaway and Constellation Software.
  3. Venture capitalists often seek attention for their investing strategies, but it's the actual entrepreneurs and companies that are doing the hard work of building that are the real heroes.

Marc Andreessen: 'Founders Can't Raised Fund Without Understanding Risk-Cash Relation'| Running Great User Interview Using Y-Combinator Strategy | VC Remote Jobs and More

Venture Curator • 159 implied HN points • 31 Oct 23
💼 Business Venture Capital
  1. Understanding the relationship between risk and cash flow is crucial for founders to successfully raise funding.
  2. Peeling away layers of risk with each funding round can help founders attract more investment.
  3. During user interviews, focus on understanding user problems rather than pushing product features.