Hi friend,
Venture, as we’ve known it, is basically over (not to be too dramatic). Just in the sense that the incentives have shifted, capital has pooled at the extremes, and a lot of the old playbooks don’t work the way they used to.
And that’s exactly why I’m more bullish than ever on the Heartland and on small, early-stage funds.
When LPs move toward bigger platforms and larger deals, it leaves more room for smaller funds to do what they’ve always been good at: stay close to founders early, build conviction through real work, and capture the upside small funds are famous for.
In a world obsessed with going big, we’re proving that sometimes staying small and true can unlock outsized impact.
So, here's my case →
Before diving further, I want to acknowledge the stress and uncertainty many across our Heartland community are experiencing. My thoughts are with everyone impacted as we hope for healing and a peaceful resolution.
