How many portfolio companies should a venture fund have?
How to test whether a manager's target company count is financeable: the arithmetic from fund size to check size, and what the answer should look like.
Is a venture manager's ownership target realistic?
How to test a manager's target ownership against the checks the fund can write, the valuations it will meet and the dilution that follows.
How much should a venture fund reserve for follow-ons?
There is no right reserve ratio. How to test whether a manager's reserve budget fits the strategy, and why the follow-on policy matters more than the number.
Can a venture team carry its board load?
A three-number test any allocator can run from a deck: board seat practice, target company count and team size. Plus GP load, the capital each partner must deploy per year.
How to tell if a venture fund is deploying on plan
How allocators can read deployment pace, compare it with the fund's original plan, and tell deliberate patience from drift.
Should you re-up when a manager raises Fund II?
How to decide on a re-up when an emerging manager comes back for Fund II: what Fund I evidence to review, and what the next fund's plan should explain.