Founder Collective is a seed-stage venture capital fund where all full-time investors were successful founders first, and they intentionally keep fund sizes small while refusing to take large pro-rata reserves so they can support exits of many sizes and minimize founder dilution. Despite their tiny fund sizes, they've backed at least 24 startups that reached $1B+ valuations—including Uber, The Trade Desk, and WHOOP—by consistently funding non-obvious outliers early and preaching extreme capital efficiency where founders should get 3x leverage on each dollar raised.