May 2, 2007
“I’ve been surprised how willing investors are to split deals. You might think that if they found a good deal they’d want it all to themselves, but they seem positively eager to syndicate. There is one rational reason to want multiple VCs in a deal: Any investor who co-invests with you is one less investor who could fund a competitor. Splitting deals thus has similar advantages to confusing paternity.
Comments gratefully appreciated. Please send them to me by any method of your choice and I'll include them here.