May 7, 2026

by

Erik Bruckner

The Cost Basis Problem Crushing Pre-Seed Fund Returns

VCs paying 4x more for consensus deals face long-term performance headwinds.

read more

Murph capital is a new media, research and community for emerging vc fund managers

PROUDLY builT IN USA

© All Rights Reserved.
MURPH CAPITAL DIGITAL, INC. 2026.

Substack

Linkedin

X

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Benchmarks

Soon

about us

FUND

INVESTORS

HANDCRAFTED by:

Murph capital is a new media, research and community for emerging vc fund managers

PROUDLY builT IN USA

HANDCRAFTED by:

© All Rights Reserved.
MURPH CAPITAL DIGITAL, INC. 2026.

Substack

Linkedin

X

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Benchmarks

Soon

about us

FUND

INVESTORS

Murph capital is a new media, research and community for emerging vc fund managers

PROUDLY builT IN USA

HANDCRAFTED by:

© All Rights Reserved.
MURPH CAPITAL DIGITAL, INC. 2026.

Substack

Linkedin

X

Main

home

Podcasts

Templates

Data

Funds

Events

Reports

Benchmarks

Soon

about us

FUND

INVESTORS

Search...

Search...