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Written By: Marc Halpin


“I offered a pre-money valuation of $500M, the deal got done at $1B.”

“The fund didn’t make it; the market’s too competitive. He couldn’t get the deal flow.” 

“Technical founder, big market? Call me, I’ll almost certainly be in.”

Three statements I’ve heard from VCs in the last week and you know what I got to thinking? 

Something has happened that is so obvious I needed to say it out loud!

The game has changed.

There are over 1000 VCs in the USA at this moment. If you’re a founder with a great idea who’s executing well in a big market – they’re looking for you. All of them! 

The game has changed.

$69B in venture capital was deployed in the first 90 days of 2021, the largest amount in venture capital / start up history… and there’s more to come!

The game has changed.

An increasing number of VCs are employing business development teams and some have full scale marketing departments. Are you kidding me?! 

The game has changed. 

The hot commodity is not the VC with deep pockets, it’s the talented founder building a great business.

The power balance between Founders and VCs has done a 180 in the last decade.  If you’re a Founder, do these 5 things before you take on capital:

1)    Do your diligence on the VC firm. YOU ask for references.

2)    Make sure you have multiple suitors looking at your deal.

3)    Take your time getting to know the Partner (It’s a 7-year relationship on average).

4)    Don’t be rushed. Ignore ‘exploding’ term sheets.

5)    Look at the terms very carefully. Everything is negotiable.



Kerosene Ventures – Helping Great Founders Raise Capital.