How many new deals a quarter does Jason Lemkin do now (in 2016)?'


1.25 per quarter.

My goal is to make one “core”, usually “late seed” investment per quarter, or 4 per year. These investments will usually range from $1m to $4m. I do not care if anyone else invests in the round, or if there is any social proof. Co-investors are great but I do not require them.

These investments are generally in the $10k-$100k MRR range at the time of investment, and usually, with at least 1–2 “slightly bigger” customers. These investments have some organic leads coming in each month (though often not many, could just be a handful) and a very strong CEO (but often no management team). I do not mind taking geographic risk but strongly prefer the CEO to be in SF Bay Area or coming soon, because, otherwise it’s much harder for me to help. In essence, I will not take CEO or product-market risk, but will take all other risks.

I also try to make 1–2 smaller investments per year. Here, the size could be $250k-$750k (or possibly more). These are generally either pre-revenue investments where I know the founders. Or seed investments where I don’t lead and follow the lead of another investor I am friends with and believe in.

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Published on June 19, 2016
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