BTV
BTV argues that inflated seed valuations ($24m median, top 5% at $200m+) conflate conviction with price, and that paying growth multiples for seed-stage risk is irrational even when exits improve. They're staying disciplined: backing exceptional founders in first-money rounds, stretching only for companies with structural moats (last-mile defensibility, proprietary data, regulatory ownership), and hunting for genuinely new AI categories rather than vertical SaaS clones.
Read the full post on Better Tomorrow Ventures ↗
Topics: Venture Capital & Startups · AI (Horizontal)
Published by Better Tomorrow Ventures · their site ↗
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