Aram Verdian

speaker

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 · last 12 months

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

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That fund math is really hard.

What you really want is if you have a unicorn outcome, it returns multiples of your fund.

And then if you have a $10 billion outcome, you don't have a 3x fund, you have a 5x to 10x fund.

Now you have an actual top 1% fund for that vintage.

The way you do that is you don't own 5% upfront.

You own 10 plus.

And with dilution, maybe you end up at 5, 7, 8%.

You have a billion, $2 billion outcome.

You just return multiple turns on your fund.

You have a $10 billion outcome.

You're going to have a 10X fund.

So leading is important to us.

And it doesn't have to be consistently 100% of your deals you have to lead.

But you do have to have this muscle of like, in my core deals, I'm going to be lead or co-lead.

And I want to be a meaningful investor on the cap table of this business.

Because if it works...

it's going to be meaningful to my fund.

Now, that's not always the case, right?

Because you can own 0.01% of Anthropic and it's going to be really meaningful.

So you need to break that rule and it can be some percentage of your fund where you say, I'm going to break that rule.

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