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Definition and Example of Win:Loss Ratio

Hi, is the win-loss ratio mentioned in Sprint 5 - Firm Positioning about how many deals does your firm go after and how many is it able to win their ideal term sheet and close?
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The Win-Loss ratio is the percent of investments that you were able to win. Many of the best investments are competitive and it's common for VCs to lose some of those deals unless they provide a strong value add.

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