<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0"><channel><title><![CDATA[AMconseilpatrimoine]]></title><description><![CDATA[AMconseilpatrimoine]]></description><link>https://merleandrew1.wixsite.com/my-site-5/blog</link><generator>RSS for Node</generator><lastBuildDate>Sun, 17 May 2026 11:59:05 GMT</lastBuildDate><atom:link href="https://merleandrew1.wixsite.com/my-site-5/blog-feed.xml" rel="self" type="application/rss+xml"/><item><title><![CDATA[#20 « The Art of Early-Stage Investing »]]></title><description><![CDATA[The New Rules of Due Diligence: Data, AI and Founder Psychology Introduction – From intuition to augmented judgement Early-stage investing has always lived at the intersection of uncertainty, conviction and asymmetry of information. For decades, Venture Capitalists and Business Angels have relied on pattern recognition, network effects and personal instinct to navigate an environment where financial statements are thin and product-market fit remains aspirational. Yet the rules of due...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/20-the-art-of-early-stage-investing</link><guid isPermaLink="false">6957f078bd1cfb4bde760f52</guid><pubDate>Fri, 02 Jan 2026 16:26:26 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_19ce5050302e409f9eeedb5d0d4ef7f1~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#19 «Why VCs Spend More Time Evaluating Founders Than You Might Believe. »]]></title><description><![CDATA[In venture capital, the debate never truly ends. Is success driven by the brilliance of an idea, the timing of a market, or the superiority of a product? After decades of data, capital deployed across thousands of startups, and countless post-mortems, the answer has become remarkably consistent: it is neither the idea, nor the market, nor even the product that best predicts success. It is the founder. This conclusion is not philosophical. It is empirical. Investors who have analysed large...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/019-why-vcs-spend-more-time-evaluating-founders-than-you-might-believe</link><guid isPermaLink="false">69414a8f6e99824bc102b2fe</guid><pubDate>Tue, 16 Dec 2025 12:06:59 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_8ec46dec31f041108906ab9c842635b8~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#18 "Phantom Valuations: How Startups Still Inflate Their Numbers ?"]]></title><description><![CDATA[In recent years, the proliferation of startup funding instruments such as SAFEs, convertible notes and other structured-debt rounds has quietly ushered in a wave of what one might call “phantom valuations.” Under the veneer of impressive round sizes and lofty paper valuations, the reality of what a company is truly worth — or will eventually be worth — has become increasingly opaque. For seasoned venture capitalists, business angels, and founders alike, mastering a critical eye toward these...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/18-phantom-valuations-how-startups-still-inflate-their-numbers</link><guid isPermaLink="false">692f2872d566b35f04af93f7</guid><pubDate>Tue, 02 Dec 2025 17:59:58 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_6e544814c11d48f088a1d04c61148182~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#17 « The Venture Capital Secondary Market: Secret Weapon of Liquidity ? »]]></title><description><![CDATA[Introduction In the traditional vision of venture capital, investments are long-term, illiquid bets: business angels, limited partners (LPs), and VCs commit capital, ride the growth curve, and hope for a generous exit via an IPO or acquisition. Yet, as the private markets evolve — and as many companies remain private far longer — a parallel and often opaque world is gaining traction: the secondary market  for VC stakes. Once a niche backwater, secondaries are now being hailed as a “secret...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/17-the-venture-capital-secondary-market-secret-weapon-of-liquidity</link><guid isPermaLink="false">692f263df769f847ed63dfd1</guid><pubDate>Tue, 02 Dec 2025 17:53:20 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_4baf1479cf5d4778aac716065e3619e4~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#16  “LPs vs GPs: who really holds the power in VC ?”]]></title><description><![CDATA[Introduction The relationship between Limited Partners (LPs) and General Partners (GPs) is the institutional backbone of venture and private capital. LPs supply the capital and set the mandate; GPs deploy that capital and convert it into exits (or not). In times of plentiful exits and easy fundraising the reciprocal relationship is relatively frictionless: LPs accept illiquidity and alignment constraints in exchange for access to top managers and superior long-term returns, while GPs are...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/16-lps-vs-gps-who-really-holds-the-power-in-vc</link><guid isPermaLink="false">691d8c0926d0d5c718e4ef8c</guid><pubDate>Wed, 19 Nov 2025 09:30:38 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_c3a9aed535274413a9b29975d2ccb587~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#15 "The Great Reset of Venture Capital: A Shift Toward Financial Discipline"]]></title><description><![CDATA[Over the past few years, venture capital has undergone a quiet but profound transformation. The era of “growth at all costs” — once celebrated as the essence of startup culture — is being replaced by a new mantra: discipline, efficiency, and profitability. In the wake of the 2021 funding boom and the subsequent market correction, investors have begun to reassess what truly creates long-term value. On forums like Reddit and in newsletters such as Term Sheet , debates rage over whether venture...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/15-the-great-reset-of-venture-capital-a-shift-toward-financial-discipline</link><guid isPermaLink="false">69135abe1c42c373b9b77b44</guid><pubDate>Tue, 11 Nov 2025 15:51:54 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/a00e7791c7984675a5c2439fdf4a37c6.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#14  “UK &#38; FR vs US Venture Capital : A Question of Mindset”]]></title><description><![CDATA[Part 1 – A Cultural Difference When you peer across the Atlantic at the venture capital landscape, two worlds emerge : one in the United...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/14-uk-fr-vs-us-venture-capital-a-question-of-mindset</link><guid isPermaLink="false">68d3d0df68c9246bcfd48ffc</guid><pubDate>Wed, 24 Sep 2025 11:52:30 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/65caf121bc1f49029c25168f0073f026.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#13 "Charisma May Raise Venture Capital, but It Can’t Always Bridge the Gap to Profitability."]]></title><description><![CDATA[« Don’t be fooled by CEO salespeople with millions of followers; fancy titles, bravado, and past successes can be deceptive. » 	Yes, it’s...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/13-charisma-may-raise-venture-capital-but-it-can-t-always-bridge-the-gap-to-profitability</link><guid isPermaLink="false">68b04b7b1ea496d7c8ca1220</guid><pubDate>Thu, 28 Aug 2025 12:32:42 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_61637228ff52417d953ea4963cfff275~mv2.jpeg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#12 “SAND HILL ROAD - THE AVENUE AT 350 BILLIONS DOLLARS AUM”]]></title><description><![CDATA[Silicon Valley is renowned for hosting a significant concentration of venture capital (VC) investors, with Sand Hill Road in Menlo Park...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/12-sand-hill-road-the-avenue-at-350-billions-dollars-aum</link><guid isPermaLink="false">68a856356c4f5bcba97e78a2</guid><pubDate>Fri, 22 Aug 2025 11:37:57 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/d70ec7cf56e74e6cab3abb584791772f.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#11 IS THE VENTURE CAPITAL INDUSTRY GOING THROUGH HARD TIMES]]></title><description><![CDATA[The venture capital industry, once the engine behind some of the world’s most successful companies — such as Facebook, Uber, and Airbnb —...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/11-is-the-venture-capital-industry-going-through-hard-times</link><guid isPermaLink="false">689f57ae054d02f5f6309d4e</guid><pubDate>Fri, 15 Aug 2025 15:55:54 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_519d28be180643e88b66cd996359abc2~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#10 “WHAT IS THE DUE DILIGENCE RAN BY A VENTURE CAPITAL BEFORE FUNDING A STARTUP” ]]></title><description><![CDATA[What is the Due Diligence Run by a Venture Capital Before Funding a Startup? Introduction Securing venture capital (VC) funding is a...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/what-is-the-due-diligence-ran-by-a-venture-capital-before-funding-a-startup</link><guid isPermaLink="false">67d6f6ca2ca0e99e075f8272</guid><pubDate>Sun, 16 Mar 2025 16:08:27 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/64af7c2f596c479fb3ff973a8f17610f.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#9 “ARE YOU ACTUALLY BUILDING A BUSINESS OR JUST PLAYING ENTREPRENEUR” ]]></title><description><![CDATA[Are You Actually Building a Business or Just Playing Entrepreneur? The Difference Between Real Entrepreneurship and Playing Business Many...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/are-you-actually-building-a-business-or-just-playing-entrepreneur</link><guid isPermaLink="false">67a8e108f23f81c6a280236a</guid><pubDate>Sun, 09 Feb 2025 17:14:28 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_b50f8c8952004dad9df84d1f0792efe3~mv2_d_4208_2779_s_4_2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#8 HOW TO CHOOSE THE RIGHT GPs (GENERAL PARTNER) AND LPs (LIMITED PARTNERS) IN A VENTURE CAPITAL FUND.]]></title><description><![CDATA[Understanding the Structure of a Venture Capital Fund The venture capital ecosystem is a cornerstone of innovation and entrepreneurial...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/how-to-choose-the-right-gps-general-partner-and-lps-limited-partners-in-a-venture-capital-fund</link><guid isPermaLink="false">6772be6acff00705fb9006d9</guid><pubDate>Mon, 30 Dec 2024 15:44:10 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_756e6cee0aec4330a6c4292d015ff0d3~mv2.webp/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#7 TERME SHEET AND LIQUIDITY PREFERENCES ]]></title><description><![CDATA[Source : AI ChatGPT Understanding the Term Sheet and Liquidity Preference in Venture Capital In the dynamic world of venture capital,...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/terme-sheet-and-liquidity-preferences</link><guid isPermaLink="false">676e82223cface53ebb52382</guid><pubDate>Fri, 27 Dec 2024 10:52:52 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_bbfac5ae294f49ce9cb9b6943e727fd3~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#6 BOOTSTRAPPING ]]></title><description><![CDATA[INTRODUCTION  The Rise of Bootstrapping: Why Startups Are Embracing Independence in a VC-Driven World. In the dynamic world of entrepreneurship, few concepts resonate as powerfully as “bootstrapping.” The term conjures images of resilient founders who build companies from the ground up with grit, resourcefulness, and sheer determination, relying on their own resources instead of outside funding. Once considered a necessity for those without access to venture capital, bootstrapping has evolved...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/bootstrapping</link><guid isPermaLink="false">6766fd6fd361a658c704d4e4</guid><pubDate>Sat, 21 Dec 2024 17:54:57 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_791915673f854416af4c5bda35a85914~mv2.png/v1/fit/w_708,h_618,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#5 THE CLUB DEAL ]]></title><description><![CDATA[INTRODUCTION :  Understanding Club Deals in Venture Capital: A Collaborative Path to Investment Success In the dynamic and ever-evolving...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/the-club-deal</link><guid isPermaLink="false">675ef6ffc7e1284a55f09f56</guid><pubDate>Sun, 15 Dec 2024 15:47:37 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/11062b_3527d4e3e5634e9b8e672b4fcc07f5cf~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#4 THE CONCEPT AND IMPORTANCE OF THE INTRODUCTION IN THE VENTURE CAPITAL WORLD]]></title><description><![CDATA[The Concept and importance of introductions in Venture Capital In the fast-paced world of venture capital (VC), introductions are often...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/the-concept-and-importance-of-the-introduction-in-the-venture-capital-world</link><guid isPermaLink="false">67547756ff6334d1e2b0e48d</guid><pubDate>Sat, 07 Dec 2024 16:56:48 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_fe7f597e0e3f4075baf25b4f9a6d9f9f~mv2.jpg/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#3 EARLY STAGE START-UP INVESTMENT, IS A LONG ROAD TO SUCCESS. ]]></title><description><![CDATA[Unlocking Potential : A Guide to Early-Stage Startup Investments Investing in early-stage startups is a journey into uncharted territory...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/early-stage-start-up-investment-is-a-long-road-to-success</link><guid isPermaLink="false">67438d9a5c57f1026b7d2f1c</guid><pubDate>Sun, 24 Nov 2024 20:34:15 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_c9effe759ddc4070859972f9c4624fb4~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#2 "YOUR COMPANY NEEDS TO SELL FOR $1 - $2 Billion"]]></title><description><![CDATA[For every entrepreneur, securing seed capital is a defining milestone often the first significant leap from vision to execution. But...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/your-company-needs-to-sell-for-1-2-billion</link><guid isPermaLink="false">673a27274886b5ea3c69b175</guid><pubDate>Sun, 17 Nov 2024 17:49:59 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_446ebde6d4bd407fbc25f51d0df32155~mv2.png/v1/fit/w_1000,h_730,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item><item><title><![CDATA[#1 HOW TO CREATE YOUR OWN VENTURE CAPITAL FUND AND UNDERSTAND THE STARTUP FUNDING INDUSTRY]]></title><description><![CDATA[Image by ANNA VITAL - ADIOMA Before diving in « How to create your own VC fund ? », let me give you an over look of the business and its...]]></description><link>https://merleandrew1.wixsite.com/my-site-5/post/how-startup-funding-works</link><guid isPermaLink="false">672905fd37ba81a889f3111f</guid><pubDate>Sun, 10 Nov 2024 20:14:43 GMT</pubDate><enclosure url="https://static.wixstatic.com/media/0b4ca4_4a7cfaf1661c4f828a82b579d685a420~mv2.png/v1/fit/w_1000,h_1000,al_c,q_80/file.png" length="0" type="image/png"/><dc:creator>Andrew  Merle</dc:creator></item></channel></rss>