Fall 2026
Venture Math
What the numbers really look like, from formation to IPO.
Founders negotiate equity, dilution and terms mostly in the dark — the benchmarks that would tell them what "normal" looks like are the one thing nobody in the room shares. This course walks the startup lifecycle stage by stage against data on 40,000+ startups, and each session a stage-appropriate investor joins to say what the numbers look like from their side of the table.
11 investors across the stack — from seed to growth.
- 11 sessions
- Sep 2 – Nov 4, 2026
- Online
Schedule & guests Fall 2026
-
Sep 24:30 – 6:30pm
Seed & First Institutional Capital
How to think about valuation when you have no revenue, and what seed investors are actually looking for
In person Flyer -
Sep 94:30 – 6:30pm
Accelerators & SAFEs
What an accelerator actually buys you, and how the SAFE became the default instrument for early-stage capital
In person Flyer -
Sep 164:30 – 6:30pm
Series A & The Institutional Transition
The step-up from first-money-in seed to Series A: seed backs a team and a thesis on almost no data, while the A prices real traction — a higher bar, a board seat, and a new level of rigor
In person Flyer -
Sep 234:30 – 6:30pm
Series B & Scaling Product-Market-Fit
Series B separates companies that found product-market fit from those that faked it — and it is when down rounds, refreshers, and secondaries enter the conversation
In person Flyer -
Sep 304:30 – 6:30pm
Crypto, Tokens & Frontier Tech Capital
What changes when equity isn’t the only asset on the table — token warrants, milestone tranches, and how capital-hungry frontier companies actually get funded
In person Flyer -
Oct 74:30 – 6:30pm
Warrants & Strategic Investors
What corporate, government, and studio investors want that financial VCs don’t — and what their paper actually costs you
In person Flyer -
Oct 144:30 – 6:30pm
Inside the Data: What 40,000 Cap Tables Actually Show
Every benchmark in this course came from somewhere. This session goes behind them — how the numbers are built, what they can and cannot tell you, and how to read a median against your own deal.
Head of Insights, CartaIn person -
Oct 214:30 – 6:30pm
Writing The First Check
How a pre-seed fund decides with almost no data — and what the economics look like from the other side of the table
Online Flyer -
Oct 284:30 – 6:30pm
Pre-Seed: Formation & Founder Equity
Before there’s a product, there’s a cap table — the decisions that shape everything that follows
In person Flyer -
Nov 49:00am PT
Growth Rounds & Series C and Beyond
Late-stage rounds bring new players — crossover funds, sovereign wealth, and hedge funds who think differently than VCs
Online Flyer -
Nov 44:30 – 6:30pm
The Public Markets Transition
The IPO isn’t the end — it’s a transition to a completely different game, and the data on founder and employee outcomes is rarely shown
In person Flyer
