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Last Money In - Newsletter on Venture Capital Syndicates

Zachary Ginsburg, Alex Pattis

Written by the global leaders in venture capital, we’ll teach you how to how to break into VC, become a better startup investor and gain access to the venture capital ecosystem.

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Latest Issues

Go/No-Go SPV Decisions for Emerging Managers

Go/No-Go SPV Decisions for Emerging Managers

Emerging managers are not yet managing a ton of money. They are emerging. SPV opportunities can present themselves here and there, and it can be a way to grow AUM and provide LP exposure to uniq...

44 hours ago

How SPV fees actually impact your returns

What SPV Fees Can Cost You at 2x, 3x and 10x

Doing the mental math on VC returns in SPVs is harder than it looks. There are often multiple fees, sometimes layers of fees, and it's tough to play out scenarios when your attention is on the o...

9 days ago

The Rise of the Day-Zero Unicorn

The Rise of the Day-Zero Unicorn

Why more startups are crossing $1B before they have a product, a customer, or a Series B — and the surprisingly small group of investors writing the checks

In July 2025, Thinking Machines Lab closed a $2 b...

19 days ago

Who Backs Our Syndicates?

Our combined Calm + Riverside LP list spans thousands of individual limited partners with a heavy operator footprint across some of the world's largest companies.

This post is an honest look at who those people actually are — the data ver...

4 months ago

Everyone Picks the Flattering Comp

Every venture cycle has a similar blow-up pattern, and it's not just about valuations being too high. It's also about valuations being anchored to the wrong public comp.

In 2019, Casper went public calling itself "a pioneer of the Sleep E...

4 months ago

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  • Zachary Ginsburg
  • Alex Pattis

    Co-founder at Last Money In Media + GP @ Riverside Ventures

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