The rising tide of global venture capital has lifted a lot of boats, with more startups getting funded than ever before. And if the first quarter of 2021 is any indication, it’s going to be another banner year. Crunchbase data reported global venture capital investment of $125 billion in Q1 2021, a 94% increase year-over-year. While low interest rates over the last decade have driven investors to the higher returns of VC, the pandemic accelerated technology investments. And as Prof. Scott Galloway wrote, recently, “The pandemic’s most enduring feature will be as an accelerant of existing trends.” While VC money has powered technological progress and trends for the last 60 years, the way venture funds work has not changed much.

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