It’s been interesting to watch Q2 play out in VC land. While initially a cataclysmic drop-off in funding was expected, the industry overall was not as affected as originally thought. Similar to the public markets, many investors continued to see a buying opportunity and had re-allocated their portfolios to support their likely winners. A key takeaway for me is early stage funding continues to face some challenges while late stage appears to have fared better. Many early stage B2C companies are struggling.