[dlg]

I'm an LP in TS. I'm not an expert (and certainly can't speak for them), but my sense is that it's about the LP base. I think that Tiny Seed raised all of its capital from individual entrepreneurs (or people otherwise active in the independent software world). Unlike big institutional LPs (or professional fund managers hired by family foundations), we don't care about markups and stuff like that on judging interim IRR. We get the model and are much more willing to wait for long-term results.

[randfish]

Yup. Ditto here. I'm a "Zebra" style founder (as in Zebras not Unicorns) and love what TinySeed's doing. My wife and I are LPs in TinySeed, too.

Really sad that Indie.vc's LPs weren't willing to even wait the usual judging period that venture funds get (often 5-7yrs, sometimes more) before determining that they "didn't want to exposure to those types of assets."