What this teaches
Written inside the COVID shock: a VC candidly reports what his firm and peers were actually doing (versus saying) about new deals, and advises founders on raising into a frozen market.
Availability note: the original source was not reachable at our last check. It may have moved or require an archive service to read.
Why it matters
A time-capsule of crisis-market fundraising dynamics that recur in every downturn.
Key lessons
- 'Open for business' announcements and actual term sheets diverge in crises
- In frozen markets, insiders and existing relationships do most funding
- Extend runway first, negotiate second
Point Nine Capital
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