Venture Math
Session 08 / 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.
Charles Hudson
Charles
Hudson
Managing Partner & Founder, Precursor Ventures ·
Former Partner, Uncork Capital
Founded Precursor in 2015 to write the first institutional check into pre-seed companies; the firm has raised four funds, manages $250M+, and has backed 400+ companies including The Athletic, Juniper Square, and Modern Health. Previously a partner at Uncork Capital, and before venture, co-founder and CEO of Bionic Panda Games. Chaired the NVCA board in 2023–24 and lectures at Stanford GSB.
Lorenzo Barberis Canonico
Hosted by Lorenzo Barberis Canonico,
President of Cassandra Labs
08 Writing The First Check
How a pre-seed fund decides with almost no data — and what the economics look like from the other side of the table
01 What a pre-seed investor underwrites with no product and no revenue
02 Check size, ownership targets, and how fund math shapes the offer
03 Why pre-seed runs on SAFEs, and what that does to the cap table later
04 Portfolio construction: how many bets a fund needs, and why that matters to you
Date
Oct 21
Time
4:30 – 6:30pm
Location
Virtual session
Register & full schedule
hilarious-droplet-6be.notion.site/
Venture-Math