Ben Lerer is the managing partner of Lerer Hippeau, one of New York's best-known seed-stage ventures. Some predictions were shared. With Fortune's Leo Schwartz
He believes venture firms will continue to see volatility as most of the money flows into top funds like Thrive and a16z, as well as smaller private equity funds.
“The place where you're going to die is managing a few billion dollars and floating in the middle and not doing anything particularly well,” he told Schwartz.
A few billion dollars isn't chump change, though. Many companies are struggling to raise since 2021's spending has been spent. Financial Times It was also reported earlier this month. The number of venture capital firms in the US has begun to decline as cash flows to top names. Perhaps the biggest example of a top-name VC firm announcing in 2024. Foundry Group will shut it down.