Conviction
How strongly an investor believes in a deal — enough to lead, price it and defend it internally.
In a power-law business, conviction is the whole game: the best returns come from non-consensus bets you're sure about.
Hear it from people who've done it
Get the real-world version of "Conviction" drawn from hundreds of conversations with founders and investors.
Ask the Network →Episodes on Venture Capital
First Cheque with Cheryl Mack & Maxine Minter · 31 August 2026
Trust Over Likability: How Charles Hudson Built a 450-Company Portfolio
First Cheque with Cheryl Mack & Maxine Minter · 17 August 2026
Sidecars 101: Why Venture Funds Are Investing on the Side
First Cheque with Cheryl Mack & Maxine Minter · 3 August 2026
Eric Ries on What Investors Get Wrong About Governance
Power law
The reality that a tiny number of investments return most of a fund — winners pay for everything else.
Lead investor
The investor who sets the terms and price of a round and usually takes the biggest cheque.
Investment thesis
The view of the world that guides what a fund invests in — sector, stage, geography or a specific bet on the future.
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