Case Study: Apple Tree Partners and Rigmora Holdings

The bankruptcies of four biotech companies are a tragedy of governance as much as finance. They remind us that in the venture ecosystem, the stability of a startup is only as strong as the weakest link in the chain of capital. For the next generation of founders, "knowing your investor" must include knowing who is investing in them.

BoD, corporate governance, risk, sagaciousthinkLouAnn ConnerJanuary 18, 2026#risk, VC, funding, funding risk, #corporategovernance, board of directorsComment

Series B: Scaling Without Getting Caught Between Bases

Fred Destin said it best: “Series B is (usually) just plain hard.” The early-stage optimism fades, replaced by pressure to deliver metrics that validate scale. This transition can be tough for some founders.

Roughly 1 in 3 startups fail post-Series B - nicely down from Series A, but still uncomfortably high. The stakes are higher, and so are the expectations.

LouAnn ConnerAugust 19, 2025#corporategovernance, operations, funding, VC, startup, series bComment

Sagacious Thinking