We've made 24 investments in 5.5 years since starting @footworkvc. In almost every case we led the Seed or the Series A. Not one of these is an "option bet" - every one of them matters to us (ask the founders), and has the potential to return a multiple of the fund if it works.
Every seed investment is an option bet.
“You have to think about the venture portfolio as a bunch of options. Each seed investment is an option bet.
You are buying an option to see if it is an outlier, and you want to have enough of those to make sure you have an outlier.
When there is true quantitative evidence that it is going to be an outlier, then you position size up.” @venkyganesan
How do seed funds play in a world where mega funds are totally price insensitive and “option bets” is the mindset for seed checks @infoarbitrage@chudson@hunterwalk@honam@dunkhippo33@jasonlk
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@schreier It’s been awesome to watch your journey and be inspired by it since that cold email I sent you in summer 2008. Thank you for responding :). And stoked for all the impact you’ll have with Ballast!