[baxtr]

I’m not a VC, but I doubt that’s true. You can exactly raise one fund if you operate like that but not two or three.

[conradev]

You could actually raise and deploy two or three funds that way, before you see returns for the first

[baq]

Given how many folks blow up and go back into the business... the best way to get a fund to run is to have previous experience running a fund.