May 31, 2026

by

Dan Gray

Why Venture's Fee Model Breaks When Funds Stop Growing Companies

Management fees scale linearly while returns from larger rounds grow sublinearly.

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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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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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