In 2023, female-owned venture capital firms received just 3% of the total $107 billion raised across venture firms worldwide, up from 2% in 2022. It is within this environment that Renata Quintini, cofounder and managing director of Renegade Partners, is announcing the close of a fresh $128 million in dry powder. The close of Fund II brings her firm’s total assets under management to $228 million, a size Quintini believes is a “Goldilocks” fit for the work she and cofounder Roseanne Wincek want to do.

“If you’re managing a billion dollars, the math works against you,” she said during a sitdown interview at the Forbes studio. “At our fund size, we can write checks for $10 million, or in some cases have single digit percentage ownership that makes sense for our fund math… I’d much rather own a bite of a watermelon than the whole grape. Let’s optimize for opportunities to say yes to great founders.” Quintini also dished on what aspiring founders—of companies and venture firms alike—need to know about operating in 2024.

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