Not including SoftBank, VC funds in the US and Europe raised $42 billion in 2017.: Picture it. A start-up founder is in conversation with an investor. The entrepreneur says, “I want to raise $100 million.” The investor asks, “ Why not $300 million? What if you went bigger, quicker, faster? What if we bought your competitor and move quickly in doing that? What if capital wasn’t a restriction?” There is a pause. In a few minutes, the deal terms change because of that more expansive worldview. The deal gets done, with more money than needed, and at a higher valuation.