…esses and earlier conviction - or specialise your way into the best deals of a particular vertical. While there is still significant space for more substantial generalist flagship funds in Europe, I believe the option most managers choose will be to specialise. Gaining an edge in a specific vertical is often more accessible with the funds being generally smaller and less challenging to raise.
Starting with our current fund (PNC IV) and with immediate effect, we will always do our full pro-rata in Series A rounds. If you raise a Seed round from Point Nine, you get a guarantee that we’ll also participate in your A round. There it is, our promise that’s signed, sealed and delivered. :)