The Evolution of building a legacy firm at Venrock with Brian Ascher

These medium sized funds, if you go with Goldilocks and the three bears, the just right size, it was big enough to support a seed or series a all the way through to the end, but not so big that a home run can't really move the pile or you need too many of them.

The Goldilocks analogy provides a memorable framework for fund sizing strategy. Specific numbers ($450M) and clear trade-offs between fund size and returns make this highly actionable for fund managers and LPs.