Nikunj Kothari(@nikunj):The amount of SPVs organzied by even the “best” investors is simply mind boggling.. To the point that if you read headlines of a large fundraise, you can be reasonably sure now that a large amount of it came from SPVs even though the headlines say something else. Combine that with tranched valuations and revenue not being the same, all I’ll say don’t believe the headlines anymore. Proof is in the pudding and the pudding is not publicly visible anywhere.

Nikunj Kothari

@nikunj

partner @fpvventures - investing in seed/A. previous: early hire @meter, @opendoor, @atlassian & others. love @shimoleejhaveri + 👦👧

Joined April 2009

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Nikunj Kothari@nikunj

2026.09.22 23:06

The amount of SPVs organzied by even the “best” investors is simply mind boggling.. To the point that if you read headlines of a large fundraise, you can be reasonably sure now that a large amount of it came from SPVs even though the headlines say something else. Combine that with tranched valuations and revenue not being the same, all I’ll say don’t believe the headlines anymore. Proof is in the pudding and the pudding is not publicly visible anywhere.