The concentration is already underway. The five largest US VC funds captured 44% of new funding in Q1. It’s difficult to frame that as returning to a healthy status quo. It’s worth considering the influence of a multi-stage brand name firm like Lux writing an open letter about the... See more

This morning, @chudson sent out a newsletter looking at the state of seed investing. Specifically, the difficult relationship between multistage firms and smaller seed funds. He laid out three scenarios which may emerge which I'll list here, but recommend reading his full write-up which is linked... See more