The Gap That Grows As Everyone Else Levels Up

New Latino funds are scaling up. The pre-seed first check is emptying out. The data on why, and where Coquí chooses to stand.

There is a quiet pattern in venture that almost nobody names out loud, and it is the single most important thing I think about when I think about why Coquí Ventures has to exist.

Funds age up.

A firm raises its first small f…