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Startups, money, power, and parenting. Heavy on the honesty with a dash of spice.

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lesliefeinzaig.substack.com
Artwork for Venture with Leslie

Latest Issues

When VCs Change Their Stripes (And Why)

I have a confession to make. I keep a secret document in my google drive titled “Fund Theses That Piss Me Off.” And every time I read about a VC fund with a generic, meaningless or buzzwordy thesis, that manages to raise a bunch of money re...

a month ago
17
3

There’s only 3 reasons why VCs invest: Faith, Opportunity, or Evidence

I have spent the better part of a decade helping thousands of first-time founders raise their first round of outside capital, and evaluating thousands more for investment.

In all of these data points, I found a pattern that explains every...

2 months ago
13
5

What VCs Sound Like to Normal People

Earlier this year I had coffee with the Chief Investment Officer of a large public pension fund. His fund doesn’t invest directly into venture (they have a fund of funds position instead), so my new CIO friend doesn’t usually get pitched di...

3 months ago
17
4

What we talk about when we talk about democracy

I was planning to post something completely different this week. Something about venture capital and the irrationality of high-risk, illiquid, long-term investing, and how that shapes our communication and behavior.

But I just couldn’t br...

4 months ago
16
3

Starting the year with Cautious Optimism

I asked to be my first live fireside of 2026 so we could talk about the year ahead - in tech, finance, policy and power. At least in theory, that was why.

In practice, we talked about everything from parenting to AI to how big VC has coz...

4 months ago
18

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Authors

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  • Leslie Feinzaig

    GP @ Graham & Walker Venture Fund. Founder @ Female Founders Alliance. Mom to two little girls.

  • Alex Wilhelm

    Financial and technology journalist. Dad. Thinker of medium thoughts. Mostly boring.

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