Alex Lazarow · 2 August 2026 · Investment Thesis

The Power Law Comes For Venture Capitalists Too

Alex Lazarow, MP @ Fluent Ventures

New research shows 90% of VC profits come from just 5% of individual investors—not firms. As consolidation accelerates, the data suggests venture is moving toward a "fantasy team" model where LPs back individual talent rather than platforms, reshaping how founders, LPs, and GPs compete.

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Topics: Venture Capital & Startups

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