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May Briefing
Brought to you by Render Capital

Who We Are
Based out of Southern Indiana, Louisville, Kentucky, and Dallas, Texas. Render Capital invests in early-stage companies across the Midwest and South(avoiding NY/SF/Boston), spanning multiple industries to build a robust and diverse portfolio.
Render Capital is dedicated to investing in companies transforming legacy industries and archaic models by making emerging technologies accessible. These industries represent a substantial part of the Midwest and Southern economies, providing significant opportunities for growth and innovation. By supporting businesses that drive this democratization, we aim to generate strong returns while capitalizing on the potential of these vital regions.
Summer Reading!
With summer just around the corner, our team has pulled together a solid stack of book recommendations from investors, founders, and mentors we admire. We figured it’d be fun to share the list with other curious readers in our community.
Where We’ll Be
Render Angel Network Workshops | Clarksville, Indiana
What We’re Reading
Why Mega Platforms Will Win in VC - Bucky Moore from Lightspeed Venture Partners shares his thoughts on the future of Mega Fund platforms, price sensitivity, AI model providers, and how to know which companies win in super competitive markets.
The Capital it Takes to go Public in SaaS - After reviewing the net investment of the past 78 SaaS IPOs to determine how much capital it took them to get to IPO. According to that data, it takes $318M on median and $816M on average.
Tolan - AI companion app hit $500K/month in 11 months via TikTok as their main distribution channel. I’m obsessed, and interesting story for other founders looking to scale products via TikTok.
What If the Mega Funds Are Right - Mega funds aren’t bloated - they’re built to follow winners and deploy at scale in a world of trillion-dollar outcomes. Venture is consolidating into platforms, specialists, and studios.
An Allocator’s Manifesto: Why is every single fund top quartile? - Explains the statistical math behind why there are so many top quartile funds. It’s easy to be top quartile, so we should all shoot for the top decile if not percentile. I agree with most points until he presented VC as a winner-takes-all game, which by those parameters, he put VC into a finite game theory, which we all know that VC is an infinite game theory where there are no winners, just survivorship bias.