『The Venture Capital Podcast with Fexingo: VCs, Term Sheets, and Startup Investing』のカバーアート

The Venture Capital Podcast with Fexingo: VCs, Term Sheets, and Startup Investing

The Venture Capital Podcast with Fexingo: VCs, Term Sheets, and Startup Investing

著者： Fexingo
無料で聴く

Lucas and Luna sit across from each other at a Sand Hill Road conference table, a term sheet between them, dissecting the mechanics of venture capital. Each episode of The Venture Capital Podcast with Fexingo is a real-time examination of startup investing: the arithmetic of liquidation preferences, the nuance of anti-dilution clauses, the signal in a down round. They never opine for the sake of opinion. Instead, they pull live data — deal flow from PitchBook, valuation trends from Carta, IPO filings from the SEC — and ask the questions a thoughtful investor would ask: What does this cap table tell us about founder alignment? How do these LP terms shift the fund's risk profile? Is this market multiple justified by the unit economics? Lucas, with his journalist's precision, sets the scene: a round closes, a unicorn flatpacks, a new fund announces. Luna, the engaged interlocutor, challenges assumptions, pokes at the fine print, and connects the numbers to the people behind them. They name names — Accel, Sequoia, a16z — but never for hype; always for the lesson embedded in the deal. This show is for founders who've heard 'market standard' one too many times, VCs who want to sharpen their thesis, and anyone who believes that the best venture conversations are about structure, not spin. What happens when the term sheet you're handed isn't the one you thought you'd see? #VentureCapital #TermSheets #StartupInvesting #SandHillRoad #LiquidationPreferences #AntiDilution #CapTables #FundTerms #StartupValuations #Unicorn #DownRound #PitchBook #Carta #SEC #Accel #Sequoia #FexingoBusiness #Finance Keep every episode free: buymeacoffee.com/fexingo© 2026 Fexingo. All rights reserved. 経済学
エピソード
  • How VCs Are Using Shared-Salary Pacts to Cut Burn

    How VCs Are Using Shared-Salary Pacts to Cut Burn
    2026/06/08
    This episode dives into a quiet but growing trend in venture capital: shared-salary agreements between portfolio companies. Instead of letting struggling startups raise down rounds or shut down, some VCs are bundling back-office teams—HR, legal, finance—across multiple portfolio companies, splitting the cost. We look at how one early-stage firm, Contrary Capital, formalised this with its 'talent share' model, and how Sequoia's recent 'Platform-as-a-Service' experiment is pushing it further. With the current market sell-off punishing high-burn names—Shopify down 11%, Palantir down 15%—investors are pressuring founders to stretch runway. But shared-salary pacts carry risks: conflicts over who owns the shared employee's loyalty, and potential liability if one company in the pact implodes. Lucas and Luna debate whether this is a smart evolution of the VC operating model or a sign that firms are trying to paper over bad underwriting. #SharedSalaryPact #VentureCapital #ContraryCapital #SequoiaCapital #PlatformAsAService #DownRound #BurnRate #StartupFinance #PortfolioCompanies #OperatingModel #TalentShare #RunwayExtension #Business #Technology #FexingoBusiness #BusinessPodcast #VCInnovation #CostCutting Keep every episode free: buymeacoffee.com/fexingo
    続きを読む 一部表示
    10 分
  • The Anti-Portfolio VCs Never Talk About

    The Anti-Portfolio VCs Never Talk About
    2026/06/07
    Every venture firm celebrates its winners — the unicorns, the IPOs, the 100x returns. But what about the ones that got away? In this episode of The Venture Capital Podcast with Fexingo, Lucas and Luna dig into the concept of the 'anti-portfolio': the startups that VCs passed on or failed to back, and what those misses reveal about decision-making, pattern recognition, and the role of luck in venture. They look at a16z's famous pass on Instagram, Benchmark's near-miss with Uber, and the structural reasons why VCs are often wrong about startups that later become category-defining. Recorded on June 7, 2026, against a backdrop of big tech sell-offs — Microsoft down 9.5 percent in a week, NVIDIA off 8.5 percent — the conversation explores whether the current market rotation is creating a new wave of anti-portfolio stories for firms that stick too rigidly to valuation discipline. For founders and investors alike, it's a reminder that the biggest risks are often the ones you didn't take. #VentureCapital #AntiPortfolio #StartupInvesting #TermSheets #VCMissedOpportunities #a16z #Benchmark #Instagram #Uber #DecisionMaking #PatternRecognition #LuckVsSkill #MarketRotation #TechSellOff #FexingoBusiness #BusinessPodcast #StartupStrategy #VentureReturns Keep every episode free: buymeacoffee.com/fexingo
    続きを読む 一部表示
    9 分
  • Why VCs Are Using Rolling Funds to Stay Nimble

    Why VCs Are Using Rolling Funds to Stay Nimble
    2026/06/07
    Carta data shows rolling funds now account for 12% of new VC vehicles, up from 2% three years ago. Lucas and Luna break down why general partners are abandoning the traditional ten-year fund model for a continuous capital approach. They examine AngelList's latest numbers, how rolling funds change LP commitment dynamics, and what this means for founders raising from these vehicles. Plus, a look at how Sequoia's 2021 fund restructuring presaged this shift. If you're building or investing in startups, understanding rolling funds is essential for navigating the current fundraising landscape. #RollingFunds #VentureCapital #AngelList #Carta #FundStructure #LPs #StartupFunding #Sequoia #ContinuousCapital #VCTrends #Founders #CapitalMarkets #Business #Technology #Investing #FexingoBusiness #BusinessPodcast #TheVentureCapitalPodcast Keep every episode free: buymeacoffee.com/fexingo
    続きを読む 一部表示
    11 分
adbl_web_anon_alc_button_suppression_t1
まだレビューはありません