Precursor VenturesA classic pre-seed and seed stage venture capital firm

Is founder optimism blinding us?

18 Jun 2025 · 0 min

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0:24

Precursor Ventures offers an informal monologue about current startup funding dynamics: founders are optimistic about getting bridge/extension financings, bridge rounds are more prevalent, and completing Series A rounds is unusually difficult. The speaker also notes a recent slowdown or pause in very large LLM (large language model) mega rounds (as of the speaker's June 18, 2025 context).

I think everybody thinks their portfolio companies are great and should get bridges and extensions and everyone else's problem. I don't see how that's possible, but I think there's a little bit of that vibe in the air. So that's not surprising me that there are more bridges. It's harder to get an A done than just about any time in my career. And I think it's interesting. For a while I was like, wow, all of the energy is these gigantic LLM mega rounds, and maybe we're taking a little bit of a pause on those for a while.