4 clips
TThe Full Ratchet
A biotech VC reveals that portfolio construction, not individual deal selection, has been their biggest mistake as an investor. They explain why it's inherently difficult to predict winners and losers in advance, despite doing thorough due diligence.
RRiding Unicorns
Deepka Rana explains how having a larger fund size fundamentally shifts venture strategy beyond just writing bigger checks. She argues that fund size enables multi-dimensional competition through enhanced platform services, in-house resources, and network effects that help win deals and better support portfolio companies.
A venture investor reflects on the fundamental challenge of venture capital: no one can predict which investments will be the big winners. Since the few massive successes drive all returns, the key to venture success isn't selection ability but how you construct your overall portfolio strategy.
An investor reflects on a crucial lesson about portfolio construction - having big winners means nothing if they aren't sized appropriately to offset the inevitable losers. The discussion highlights how proper position sizing can be more important than investment selection itself.