The Denominator Effect: Why Your LPs Went Quiet — Future Venture Pulse Market Structure · LP Dynamics The denominator effect: why your LPs went quiet It’s the quiet mechanic behind some of the toughest fundraising cycles in venture and why even great funds can struggle to raise when the rest of the market is having a moment. Here’s how it works, what the data says about where we are now, and what it means if you’re raising a fund or a round in 2026. If you’ve raised a fund or… Read More
