Hussein Kanji

And the seed rounds that are 5 million plus are a fifth of the industry. Do you do those jumbo seeds, the inception rounds? We did one. We did one. And you have to sometimes. I saw this.

And the seed rounds that are 5 million plus are a fifth of the industry. Do you do those jumbo seeds, the inception rounds? We did one. We did one. And you have to sometimes. I saw this.

And the seed rounds that are 5 million plus are a fifth of the industry. Do you do those jumbo seeds, the inception rounds? We did one. We did one. And you have to sometimes. I saw this.

So it was a $30 million round where we took it off the table at 10. We locked it down, set the price. You put in 10? We put in 10. It was an AI company, a foundational model, didn't necessarily need all the money on compute. So 10 in a foundational model, and 10 is a really large number, but 10 in foundational model land is still a small number.

So it was a $30 million round where we took it off the table at 10. We locked it down, set the price. You put in 10? We put in 10. It was an AI company, a foundational model, didn't necessarily need all the money on compute. So 10 in a foundational model, and 10 is a really large number, but 10 in foundational model land is still a small number.

So it was a $30 million round where we took it off the table at 10. We locked it down, set the price. You put in 10? We put in 10. It was an AI company, a foundational model, didn't necessarily need all the money on compute. So 10 in a foundational model, and 10 is a really large number, but 10 in foundational model land is still a small number.

We took it off the table, and then everyone wanted in, and then we selectively let a few funds in. NordStone came in, Lightspeed came in, et cetera, and the round became 30. 10 million is a big, big bet. Not out of a $200 million fund. This is why you have to be a decent sized fund. If you're a $100 million fund, that's 10% of your fund right there.

We took it off the table, and then everyone wanted in, and then we selectively let a few funds in. NordStone came in, Lightspeed came in, et cetera, and the round became 30. 10 million is a big, big bet. Not out of a $200 million fund. This is why you have to be a decent sized fund. If you're a $100 million fund, that's 10% of your fund right there.

We took it off the table, and then everyone wanted in, and then we selectively let a few funds in. NordStone came in, Lightspeed came in, et cetera, and the round became 30. 10 million is a big, big bet. Not out of a $200 million fund. This is why you have to be a decent sized fund. If you're a $100 million fund, that's 10% of your fund right there.

You know, 5% of the fund is very different than 10% of your fund. And I would argue maybe that number should be like 200 to 300 if you're going to double down proactively. You have another vehicle, so you can double down out of another vehicle.

You know, 5% of the fund is very different than 10% of your fund. And I would argue maybe that number should be like 200 to 300 if you're going to double down proactively. You have another vehicle, so you can double down out of another vehicle.

You know, 5% of the fund is very different than 10% of your fund. And I would argue maybe that number should be like 200 to 300 if you're going to double down proactively. You have another vehicle, so you can double down out of another vehicle.

But if you're not able to have another vehicle and you're going to do it out of the same fund, you probably need to be closer, a little bit higher than your 125.

But if you're not able to have another vehicle and you're going to do it out of the same fund, you probably need to be closer, a little bit higher than your 125.

But if you're not able to have another vehicle and you're going to do it out of the same fund, you probably need to be closer, a little bit higher than your 125.

Yeah. But I think in this case, we think AI on the foundational model is somewhat binary. It either works or it doesn't. Because if it works, and you've seen this with a bunch of AI companies. Are you happy you wrote that, Jay? Yes. I don't know if it's going to make us money just yet. It's premature to say that. The company was funded in, we took the term, the term sheet was March.

Yeah. But I think in this case, we think AI on the foundational model is somewhat binary. It either works or it doesn't. Because if it works, and you've seen this with a bunch of AI companies. Are you happy you wrote that, Jay? Yes. I don't know if it's going to make us money just yet. It's premature to say that. The company was funded in, we took the term, the term sheet was March.

Yeah. But I think in this case, we think AI on the foundational model is somewhat binary. It either works or it doesn't. Because if it works, and you've seen this with a bunch of AI companies. Are you happy you wrote that, Jay? Yes. I don't know if it's going to make us money just yet. It's premature to say that. The company was funded in, we took the term, the term sheet was March.

I think WIRE went in June. We're sitting in December. It'd be foolish for me to say anything about how it's doing. I don't know.

I think WIRE went in June. We're sitting in December. It'd be foolish for me to say anything about how it's doing. I don't know.