EPISODE · Jun 10, 2026 · 7 MIN
The VCs Who Never Write Small Checks
from The Venture Capital Podcast with Fexingo: VCs, Term Sheets, and Startup Investing · host Fexingo
Lucas and Luna dive into a striking trend in venture capital: why some top-tier firms refuse to write checks under $10 million. They use Sequoia's recent $7.5 billion fund as a case study, showing how fund size dictates minimum check size and why this leaves early-stage startups scrambling for capital. The hosts discuss a recent TechCrunch piece on Justin Ernest deploying nearly $500 million without a traditional fund, contrasting it with the 'big-check' model. They also look at data like the NASDAQ's 5-day gain in big tech (Apple up 3%, NVIDIA flat) to frame the liquidity environment. By the end, listeners understand the math behind minimum check size and how it shapes which startups get funded. #VentureCapital #StartupInvesting #TermSheets #Sequoia #JustinErnest #CheckSizes #FundSizes #Business #Technology #EarlyStage #GrowthStage #Liquidity #NASDAQ #Apple #NVIDIA #FexingoBusiness #BusinessPodcast #VCStrategy Keep every episode free: buymeacoffee.com/fexingo
What this episode covers
Lucas and Luna dive into a striking trend in venture capital: why some top-tier firms refuse to write checks under $10 million. They use Sequoia's recent $7.5 billion fund as a case study, showing how fund size dictates minimum check size and why this leaves early-stage startups scrambling for capital. The hosts discuss a recent TechCrunch piece on Justin Ernest deploying nearly $500 million without a traditional fund, contrasting it with the 'big-check' model. They also look at data like the NASDAQ's 5-day gain in big tech (Apple up 3%, NVIDIA flat) to frame the liquidity environment. By the end, listeners understand the math behind minimum check size and how it shapes which startups get funded. #VentureCapital #StartupInvesting #TermSheets #Sequoia #JustinErnest #CheckSizes #FundSizes #Business #Technology #EarlyStage #GrowthStage #Liquidity #NASDAQ #Apple #NVIDIA #FexingoBusiness #BusinessPodcast #VCStrategy Keep every episode free: buymeacoffee.com/fexingo
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The VCs Who Never Write Small Checks
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