Dear SaaStr: Why is SaaStr Fund / Jason Lemkin’s Cap Investing Cap $29m Pre-Money?

Maths:

This means with a $3.Xm check in a Not Too Big Round I can achieve my minimum target ownership of 10%.

It’s a bit of a small fudge from a $30m post money cap to achieve that math more precisely.

I have made a few exceptions when I was 100.0000% sure it would be a big winner.  But generally, that math needs to hold for the fund to actually make money.

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