AT RED SEA VENTURES, WE SPEND A LOT OF TIME WORKING WITH OUR PORTFOLIO AND GETTING TO KNOW OUR FOUNDERS PRETTY WELL (AND VICE-VERSA). THIS MAKES FOLLOW-ON INVESTING IN LATER ROUNDS WITH FOUNDERS WE BELIEVE IN TO BE A BIG PART OF OUR THESIS. IN THE FALL, A FEW CONVERSATIONS ABOUT FOLLOW-ON INVESTING AND THE IMPORTANCE OF PRO-RATA RIGHTS LED TO A PROJECT WITH A VERY TALENTED TEAM OF MIT MASTER OF FINANCE STUDENTS UNDER THE SUPERVISION OF PROFESSOR MINAHAN. OVER THE PAST FEW MONTHS, THE TEAM HAS DONE AMAZING WORK ANALYZING THE VALUE OF THESE RIGHTS AND THE VENTURE CAPITAL ENVIRONMENT AS A WHOLE. AT THE END OF THE PROJECT, THE TEAM TRAVELED TO NEW YORK CITY TO PRESENT TO RED SEA VENTURES AND OUR FRIENDS AT NEW YORK BASED VENTURE FUNDS. WE COULDN'T BE HAPPIER WITH BOTH THE RESULTS AND THE ADDITION OF OUR NEW INTERN, BRIAN LISTON.
