Aram Verdian

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731 appearances 1 recordings 1 series first heard Jul 2026 last heard 24 Jul

Aram Verdian’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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Now, it doesn't mean it can't happen in seed.

I'll give you an example.

So we backed a manager.

who, way back, many managers in seed.

Seed is much harder today than it's ever been.

So if you are doing seed, you need to have what I call the right to win.

Why are you the generalist firm that can win the best deal flow at the earliest stages?

This was much easier in 08, 09, when there were 20 firms and there wasn't much adverse selection.

You get 15, 20% ownership in the best enterprise software companies because there were literally 20 legitimate seed firms.

Now they're over 2,000 to 3,000.

And so why are you as a generalist firm the one winning it?

If you have...

very specific differentiation and a right to win, and you stay disciplined in terms of your fund size, you're going to continue to do well in seed.

There are firms that get very large in seed.

So I'll give an example.

So let's say your best funds were $40, $50, $70, $100 million funds, and you had three in a row at 3xNet.

So you would fit into this 20, but you're now raising $502 billion fund.

Because of your success, you got much bigger.

The problem with that is at that point,

You can't do the deals you did when you were a $40 million fund.

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