Notes from where we invest and operate.
Writing and media from Greenridge Ventures, the private equity and venture capital arm of Greenridge Group.
How Early-Stage Companies Get Valued
There are no earnings to discount, so valuation is less arithmetic than negotiation.
What Investors Mean by a Moat
Not what makes you win once. What stops the next well-funded competitor from taking it back.
Regulatory Diligence in Fintech, Health, and Legal
In regulated markets, the diligence that decides the investment is the diligence most investors cannot do.
What Product-Market Fit Really Means
Not a survey score. The unmistakable feeling of demand pulling the product out of your hands.
How VC Fund Economics Work
Management fees keep the lights on; carry is the real prize, and it aligns the fund with the founder.
Bridge Rounds and Down Rounds
One buys time to the next milestone. The other prices the company below where it was. Neither is fatal.
Board Seats and Control
Owning most of the shares and controlling the company are not the same thing.
The Term Sheet Clauses That Matter
Valuation gets the attention. Control and economics clauses decide the outcome.
Burn Rate and Runway
How fast you spend, and how long that leaves before you must raise or turn profitable.
Startup Dilution, Explained
Owning a smaller slice of a bigger pie is the goal, not the problem. Losing track of it is the problem.
Vesting and the One-Year Cliff
Equity you earn over time, with nothing vesting until you have been around long enough to count.
The Option Pool Shuffle
Where the new option pool comes from decides who really pays for it, and it is usually the founder.
Pro Rata Rights, Explained
The right to keep your slice from shrinking by investing again in the next round.
Liquidation Preferences, Explained
Who gets paid first when the company sells, and how much before anyone else sees a dollar.
Pre-Money vs. Post-Money Valuation
Two words, one plus sign of difference, and a lot of founder ownership riding on which one you mean.
What Is a 409A Valuation?
An independent appraisal that sets the price at which employees can buy their options, and keeps the IRS satisfied.
How to Read a Cap Table
A cap table is just a list of who owns what. Reading it well tells you where the company is really headed.
How a Priced Equity Round Works
A real valuation, new shares, and everything that was deferred now comes due.
SAFE vs. Convertible Note
Both defer the valuation. One is debt with a clock and interest; the other is not.
What Is a SAFE?
A simple agreement for future equity: money now, shares later, without setting a price today.
How an Operating Company Runs Diligence
The best diligence question is one you can grade, because you have already answered it yourself.
Compliance as a Growth Lever
Handled well, the thing that slows most companies down is what lets ours move faster.
Why Regulation Is a Moat, Not a Cost
Everyone treats compliance as a tax on building. The empty markets it creates are the opportunity.
What We Look For in a Regulated-Market Founder
Grit and vision are table stakes. In regulated markets we look for two rarer things.
Why We Invest Where We Operate
The best diligence is having already built the thing.
Principals, Not Spectators
The firm in one sentence: we take the position with our own conviction, then do the operating work that decides whether it wins.
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