Why Sandbagged PE Marks Backfire on Fundraises
Distributed to Paid-In capital (DPI) has displaced internal rate of return (IRR) as the primary allocator metric because cash distributions remove accounting subjectivity.
Theme
Fundraising: what the top podcasts are saying.
How founders raise money, and what investors look for. 9 write-ups from 6 shows so far, the newest from September 2026.
9 write-ups6 shows
The short version
Founders and fund managers prioritize concrete traction and long-term partnerships to secure capital. Shows highlight an industry shift toward working prototypes, hard revenue deposits, and fast deal execution.
Top talking points
Concrete progress replaces pitch decks to attract capital
Founders report securing capital by building working software prototypes or collecting non-refundable customer deposits to validate products. Simily acquired a $200 million raise after closing enterprise deals in 3 months.
- Regent's $240M Play: Skip the FAA and Build for the Coast Guard TBPN · Sep 6
- Why Canva Killed Pitch Decks for Working Prototypes Cheeky Pint · Aug 30
- Simily's Jun Park: Enterprise Deals in 3 Months Amid AI Froth 20VC with Harry Stebbings · Aug 2
Founders prioritize trust and speed to close rounds
Executives advise prioritizing trust and rapid execution during a raise. Paul Erlang recommends choosing partners based on trust, and leaders at Corgi consistently reject the highest offers to close deals quickly.
- FOMO's Erlang: Use This Rule to Outsmart VC Fundraising Inbounds 20VC with Harry Stebbings · Jun 28
- Nico's $2.5B Rule: Never Take The Highest Fundraising Price 20VC with Harry Stebbings · May 31
Investment firms adapt structures to avoid constant fundraising
Allocators and managers note the 10-year fund lifecycle forces constant capital collection. Firms adapt by utilizing permanent capital structures and prioritizing cash distributions to satisfy investors.
- Permanent Capital Beats the Venture Fundraising Treadmill How I Invest · Aug 23
- Why Sandbagged PE Marks Backfire on Fundraises Private Equity Spotlight · Sep 13
Most interesting insights
Regent closed a $240 million Series B round on the back of a $10 billion commercial backlog and over $20 million in defense contracts.
From Regent's $240M Play: Skip the FAA and Build for the Coast Guard, TBPN · Sep 6
Nico, the co-founder and CEO of Corgi, a $2.5 billion insurance company, follows a counter-intuitive fundraising rule from Brian Chesky: "never take the highest price." Corgi consistently opts for the second or third highest offer.
From Nico's $2.5B Rule: Never Take The Highest Fundraising Price, 20VC with Harry Stebbings · May 31
Canva banned internal pitch decks, UX roadmaps, and milestone documents in favor of immediate, working software spikes.
From Why Canva Killed Pitch Decks for Working Prototypes, Cheeky Pint · Aug 30
Latest write-ups
Why Private Equity Must Trade LP Pitch Decks for Media Brands
Ninety-nine percent of private equity websites operate strictly as investor pitch decks for LPs, completely ignoring the founders and executives who drive deal flow.
Regent's $240M Play: Skip the FAA and Build for the Coast Guard
Regent closed a $240 million Series B round on the back of a $10 billion commercial backlog and over $20 million in defense contracts.
Why Canva Killed Pitch Decks for Working Prototypes
Canva banned internal pitch decks, UX roadmaps, and milestone documents in favor of immediate, working software spikes.
Permanent Capital Beats the Venture Fundraising Treadmill
Traditional 10-year fund lifecycles force managers to spend peak deployment years fundraising rather than managing positions.
Simily's Jun Park: Enterprise Deals in 3 Months Amid AI Froth
Simily, led by Jun Song Park, closed major enterprise deals within three months by solving acute customer pain points, challenging typical assumptions about corporate sales cycles.
Series A: Why $1.5M to $5M ARR is No Longer Enough
FOMO's Erlang: Use This Rule to Outsmart VC Fundraising Inbounds
Prioritize trust and a genuine partnership with your VCs over chasing the highest valuation or a 'tier one' name. Paul Erlang, CEO of FOMO, chose partners like Benchmark, USV, and Index based on who he believed would help scale t…
Nico's $2.5B Rule: Never Take The Highest Fundraising Price
Nico, the co-founder and CEO of Corgi, a $2.5 billion insurance company, follows a counter-intuitive fundraising rule from Brian Chesky: "never take the highest price." Corgi consistently opts for the second or third highest offe…