1confirmation founder: Early financing scale is negatively correlated with entrepreneurial success. Bet on those "dark horses" that are focused and c
Nick Tomaino, the founder of cryptocurrency venture capital company 1confirmation, recently shared his experience in venture capital. Tomaino said that for early-stage startups, there is a negative correlation between the initial financing size and long-term success. He pointed out that 46 projects invested by 1confirmation with less than $10 million in financing are still operating today, many of which have performed well; while 3 failed projects raised more than $10 million in financing before product-market fit.Tomaino believes that obtaining a large amount of funding too early can lead to distraction and lack of motivation. Once there is too much funding, companies may over-hire, invest too much in different areas, and lose focus.This experience makes Tomaino more inclined to invest in those focused and powerful "dark horses," rather than those "leaders" who become complacent because of early financing success.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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