Founders' Capital
Ashish Kulkarni, Peter HwangThe intersection of capital, control, and startup-building. It’s not about raising money; it’s about what money does to your startup.
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 15 | Founded | 7 months ago | Last Issue | 6 days ago |
| Active | |||||
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founderscapital8.substack.comLatest Issues
What your SAFE actually does at the next round
A founder showed me his cap table this week and asked me to tell him what was wrong.
He had raised three SAFEs over the last fifteen months. Each one felt fine at the time. The terms were standard. The caps were reasonable. The investors w...
Cold Emails to VCs Have a 95% Non-Reply Rate. Here is What Actually Gets You a Meeting.
68% of seed rounds in 2025 started with a warm introduction.
Let that sit for a second.
You have been crafting subject lines, personalising your opening paragraph, attaching your deck, and hitting send. You have done this fifty times. May...
I interviewed 100 VCs. This is what I built from it.
I’ve spent the last several years doing one thing: trying to understand what actually separates founders who close a round from founders who don’t.
I interviewed 100+ VCs. I ran a research collaboration with Plug and Play Tech Cente...
6 Startups, 4 Exits, 28 Years: The Framework Behind Peter's Serial Wins
Before we dive in, a quick note for the founders reading this.
If you have traction but no repeatable growth, if something feels stuck and you can’t quite name what, today’s guest writes the newsletter you’ve probably been looking for....
The Option Pool Shuffle
You finally get a term sheet.
₹1.5 Cr pre-money valuation. ₹50L investment. The investor gets 25%, you keep 75%. You and your co-founder shake hands. You’re ready to sign.
Then you look at the cap table a week later.
You own less than yo...
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Authors
The writers behind this newsletter.
I write about the mental side of building a startup—from inner conflict to grit, co-founder trust, trauma, and self-doubt in Founders Psyche, while in Founders' Capital - I focus more on execution aspect of startup building.
You feel stuck, you have traction but no repeatable growth. I help early to mid-stage tech founders figure out what's broken before it costs them years & resources. 5x founder/4 exits (8&9-figure exits) in 28 yrs. Investing&building 6th startup now.
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