Startup investments are long-term bets on founders and their ideas. There is often an initial period of volatility in a startup before green shoots become visible. This is the point other investors may enter, and early-stage investors may get their first exit option. Premature exit, at this point, leads to minimum returns for maximum risk. The value creation thereafter is multi-fold. This is captured by investors who hold on to their convictions, resisting the temptation to trade on impulse. 80% of upside happens in the final 20% of a startup s journey before the exit.