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If they do this 10 times, they will establish a well-known reputation for being founder friendly. This would cost $8M.

They are investing $1B over all their funds.

Will the impact a founder-friendly reputation has on deal flow and close rate increase their fund's ROI by 0.8%? Almost certainly.

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Yeah close rate is a good alternative way to look at it. GC can always have Josh as a founder reference to chat with a founder on the fence - at current market they could probably turn over in one deal (i.e. opp to invest in another business they wouldn't have won otherwise, at the same amount as Baremetrics). Great move for everyone!

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