Fund Strategy
Building a Venture Capital Track Record From Zero
How emerging fund managers build a credible VC track record from scratch — angel investing strategies, attribution frameworks, and the path from first check to Fund I.
Michael Kaufman·
Carried interest is the mechanism that makes venture capital work — and understanding it is essential whether you're raising from VCs or thinking about joining a fund. Here's the complete breakdown.
How emerging fund managers build a credible VC track record from scratch — angel investing strategies, attribution frameworks, and the path from first check to Fund I.
A tactical guide to negotiating your startup term sheet — which terms matter most, where to push back, and how to protect your interests without killing the deal.
Understanding the power law that drives venture capital returns — why a small number of investments generate the vast majority of profits and what this means for founders and investors.
A complete guide to SAFE notes for startup founders — how they work, key terms like valuation caps and discounts, common mistakes, and when SAFEs are the right fundraising instrument.
A clear explanation of how venture capital funds are structured, the roles of limited partners and general partners, fee economics, and how fund structure affects startup founders.
How solo general partners and micro funds under $50M are disrupting traditional VC, offering founders faster decisions, deeper expertise, and more aligned incentives.
A step-by-step guide to building a startup financial model that impresses investors, drives decision-making, and helps you forecast growth, burn rate, and runway.
An in-depth analysis of the biggest trends shaping venture capital in 2026, from AI-native funds to climate tech surges, shifting valuations, and the rise of secondary markets.
Learn how equity dilution works across startup funding rounds, from pre-seed to Series C, and the strategies founders use to protect their ownership stake.
A comprehensive comparison of bootstrapping and venture capital funding paths for startups, covering the tradeoffs in control, speed, equity, and long-term outcomes.
A founder's complete guide to the venture capital due diligence process — what investors examine, how long it takes, common red flags, and how to prepare your startup for scrutiny.
A comprehensive guide to identifying, researching, and making first contact with the right VC investors for your startup — from warm intros to cold outreach strategies that actually work.
Term sheets are dense, jargon-heavy, and consequential. Here's a founder-friendly breakdown of every major clause and what it means for your company.
Series A is where startups prove they can scale. Here's what investors expect, what metrics matter, and how to run a successful Series A process.
Forget the pitch deck templates. Here's what actually drives VC investment decisions — the real criteria behind the check, from team to TAM to timing.
Management fees, carried interest, and the math behind VC fund economics. Here's exactly how venture capital firms generate returns and get paid.
Pre-seed and seed rounds serve different purposes. Here's what each stage looks like, what investors expect, and how to know which one you're raising.
How do investors decide what your startup is worth? A deep dive into every major valuation method from DCF to comparables to the VC method.
Most pitch decks fail silently. Here's a slide-by-slide breakdown of what actually works when pitching VCs — based on what investors really look for.
A comprehensive guide to venture capital — how it works, who the players are, and why it matters for startups seeking growth capital in today's market.
A 2026 head-to-head comparison of AngelList, Carta, Pulley, and Archstone across pricing, cap table management, fund administration, LP portals, deal pipeline, and AI tools — so you can choose the right platform for your fund.
NRR is the metric VCs care about most. How to calculate it, what good looks like, and proven strategies to push NRR above 120%.
Which SaaS metrics VCs actually care about at each stage. ARR, growth rate, NRR, CAC payback, and the benchmarks that separate funded from unfunded.
Most GPs are flying blind. Here are the 20 VC KPIs that separate disciplined fund managers from everyone else — with benchmarks, formulas, and why each one matters.