Jun 9, 2026

by

Ilya Strebulaev

Why VCs Guard Pro Rata Rights More Fiercely Than Board Seats

The right to maintain ownership stakes outranks every other negotiating term in venture deals.

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Murph capital is a new media and community for the next generation of emerging managers and allocators

PROUDLY builT IN USA

HANDCRAFTED by:

@Grivitsky

© All Rights Reserved.
Murph Capital Digital, LLC. 2026.

Substack

Linkedin

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Main

home

Podcasts

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Reports

Soon

about us

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Murph capital is a new media and community for the next generation of emerging managers and allocators

PROUDLY builT IN USA

HANDCRAFTED by:

@Grivitsky

© All Rights Reserved.
Murph Capital Digital, LLC. 2026.

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