Sramana Mitra: What have you invested in that has passed all these diligence tests and emerged as something that looks like it could stand on its own without getting blindsided.
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Piyush Kharbanda, General Partner at Vertex Ventures, discusses his firm’s AI investment thesis.
Sramana Mitra: I’m sure you are seeing that category of entrepreneurs in the geographies that you’re catering to. That is a true statement. They’re benefiting from the fact that the ultralight startup trend is really taking off right now because of AI.
Sramana Mitra: The founders that are prized are founders who bring that kind of deep domain knowledge with which to build something differentiated.
Sramana Mitra: So, tell me a little bit about fund two. What are you expecting to see? I’m sure you have some sort of a pipeline and deal flow that’s already built up as you are starting to divest your second fund. What is happening in the geographies you are interested in? Tell us more
Sramana Mitra: What size checks do you write? Mark Phillips: Out of fund two, we’re writing a $1-$1.5 million check into to portfolio companies over the course of the next two to three years.
Sramana Mitra: Yes. Most VCs and certainly Andreessen Horowitz are operating with a unicorn chasing mindset. This particular fundraise by Andreesen Horowitz is absurd because to give returns to limited partners on a $20 billion fund makes no sense.