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31 So while time-to-liquidity for Is vc still a thing final

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So while time-to-liquidity for VCs has been pushed out, the best VCs (and LPs) are compensated by
capturing more of the upside. Pro rata rights have become much more valuable in the best deals.
Series A 20%
Seed 10%
Which is why many
stage funds have set up
companion funds
to defend their
ownership through exit
Growth Funds
Opportunity Funds
SPVs
Target
Ownership
@ Exit
Structural Changes to Defend Ownership Through Exit

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