Early-stage investing is very simple. 1. Generational defining founders (top 1%). 2. Directionally correct markets, fast-growing markets. 3. Investment has to be able to return the fund multiple times. So why did @paulbonnet just rip a $15M check from 20VC into @UsePrelude. 1. Matias Berny and @Zibra_ are exceptional. The best founders have a sense that winning is inevitable. I know that whatever candidate or customer, I put them in front of, they will close. 2. We are about to see an explosion in the amount of technology created. Way more apps. Explosion of new security threats. Twilio (their competitor) has NPS of a South American bank. 😂 Prelude has signed one of the largest social networks and e-commerce players and does many millions in ARR. (I am not allowed to say, despite every ounce of me being to keen to!!) 3. Credit to my partner Paul, he charmed Matias well before a round could come to fruition. Lesson: If you wait for a "raise" you will always lose. The best rounds are done when there is no round. You can always get a deal done. P.S. I am so bored and tired of all the BS VC fundraising announcement posts and so hope this was a little more natural with less of the comms BS.