Random Walk

Random Walk

Share this post

Random Walk
Random Walk
LPs want their liquidity and they want it now

LPs want their liquidity and they want it now

GPs still haven't gotten the memo, yet, apparently

Moses Sternstein's avatar
Moses Sternstein
Jul 01, 2025
∙ Paid
8

Share this post

Random Walk
Random Walk
LPs want their liquidity and they want it now
1
2
Share
  • an anecdote from the world of cap-intro

  • no, you’re not hallucinating, fundraising has *never* been this hard, but the other shoe has not yet dropped

  • what LPs would really prefer

  • startups have changed gotten the memo (and changed their burned rates accordingly)

Keep reading with a 7-day free trial

Subscribe to Random Walk to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Moses Sternstein
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share