The 0.2 per cent club: Inside the silicon valley fund that backs one AI startup a month

The 0.2 per cent club: Inside the silicon valley fund that backs one AI startup a month

Tau closes Fund III on seed-stage AI while 73% of LP capital flows to mega-funds; 0.2% accept rate targets workflow-specific companies with obvious ROI. Early-stage VC returns 21.3% vs 12.6% late-stage—largest AI multiples still sit in seed rounds mega-investors ignore.