Every person has his own definition of what constitutes a late-stage company. For me, a company qualifies as late-stage if any of the following are true: 1. Th

Every person has his own definition of what constitutes a late-stage company. For me, a company qualifies as late-stage if any of the following are true: 1. The company has filed their S-1 (including confidentially, but there are rumors). 2. The company needs funding to grow their marketshare; the fundamental product-market fit has been proven and the unit-economics may be favorable now or soon, so the capital is needed purely to grow the business. 3. The company is profitable already and simply wants to be a publicly traded company, and the discipline it brings.