> “We are probably the most risk-seeking investors in the world,” said Matt Clifford, EF’s co-founder. This is a great quote, but the reality is more like: "If

> “We are probably the most risk-seeking investors in the world,” said Matt Clifford, EF’s co-founder. This is a great quote, but the reality is more like: "If we didn't start a firm that invests in companies before they exist, we wouldn't have any dealflow." > Despite the risk-–30% of the entrepreneurs EF funds drop out without ever creating a company –Clifford said he has no difficulty finding investors for his venture firm. Most prospective LPs can't get into top funds, but in markets like the one we have today, they don't go home. They funnel their money into second, third and fourth-tier funds. There were a lot of these in the first .com boom.