Most Emerging Managers Regret Their First Fund Structure - Here’s How to Get It Right (or Fix It)

Strategic Structure, Institutional Scale & Survival in a Competitive Venture Landscape

The venture capital industry is growing - but so is competition:

• Over 1,500 new VC firms were launched globally between 2020 and 2024, more than double the rate from the previous five-year period.
  Preqin, 2024 Global VC Report

• Emerging managers now account for 25–30% of total VC deal volume in early-stage funding rounds.
  PitchBook, Q1 2025 Emerging Manager Snapshot

• However, only ~40% of new funds reach their second vintage, and fewer than 15% scale beyond €100M.
  Invest Europe, VC Fundraising Benchmark 2024