This week on the Kingscrowd Podcast, Teddy, Scott, and Léa break down one of the most important — and often overlooked — questions in startup investing: when should you follow on? Using Pirouette Pharma as a case study, the team explains why Kingscrowd Capital is reinvesting and what milestones matter most when deciding to double down.

The conversation explores how retail investors should think differently than institutional VCs, what progress signals real execution, why pro rata participation from prior investors matters, and how valuation discipline plays into blended returns. If you’ve ever wondered whether to invest again in a company you already backed, this episode gives you the framework.