Venture Math
Session 03 / 11 · Fall 2026
The numbers that matter most are the ones nobody shares.
This course reveals them.
Using Carta’s proprietary data on 40,000+ startups, we’ll take a data-driven tour through the startup lifecycle—from co-founder equity splits to IPO—exposing the benchmarks founders won’t share and the math investors won’t explain.
Mercedes
Bent
Co-Founder, Premise VC ·
Former Partner, Lightspeed Venture Partners
Co-founded Premise in 2025 with former NEA partner Vanessa Larco — a pre-seed and seed fund writing $500K–$3M checks into AI-native technical founders. Before that, six years as a partner at Lightspeed investing at the early stage, and an early employee and GM at General Assembly, where she grew her division from $0 to $30M+ in two years. Stanford MBA and MA in Education; Harvard AB.
Hosted by Lorenzo Barberis Canonico,
President of Cassandra Labs
03
Series A & The Institutional Transition
The step-up from first-money-in seed to Series A: seed backs a team and a thesis on almost no data, while the A prices real traction — a higher bar, a board seat, and a new level of rigor
01
The Series A bar, and how hard it is to clear
02
How long it takes to get there
03
Bridges on the way to the A
04
Is the A even worth it