Why Seed Investors Often Skip Follow‑On Rounds—and Why It’s Not Bad News
Most seed funds skip Series A follow‑ons not because they doubt you, but because adding capital at a higher valuation cuts their multiple. A $100K seed stake at $2M can 100× at a $200M exit, yet the same $500K at a $100M Series A slashes returns. Understand this math to target the investors who will actually follow on.