Nikunj Kothari · 31 August 2026 · Investment Thesis

The New Valley

Nikunj Kothari, Partner @ FPV

AI-enabled software companies can now reach $5–25M ARR quickly, but venture capital's outlier-focused model struggles with "good but not great" founders in this middle zone. The Series A funding gap is widening, leaving viable bootstrapping or M&A as alternatives to the traditional venture path.

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Topics: AI (Horizontal) · Venture Capital & Startups

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