In this episode of The Omega Files, Karthik Reddy and Adithya Santhosh from Blume Ventures unpack one of venture capital’s most critical questions: Does TAM (Total Addressable Market) define the success of a startup?
Using insights from Blume Fund I, they explore how investments in both niche and large TAMs performed:
Niche TAMs: 56% of the portfolio, with a 4.2x MOIC.
Large TAMs: 44% of the portfolio, delivering a stellar 7.3x MOIC.
But here’s the twist: even niche TAM winners had to pivot and expand into larger markets to achieve success. Karthik draws on examples like Instagram to explain how founders unlock deeper behaviors and redefine their markets.
It’s not just about where you start—it’s about what you do to expand. So, what’s the secret to scaling from niche to legendary?
📥 Download The Omega Files: Episode 2 to explore the data, insights, and stories behind these patterns: https://bit.ly/BVTheOmegaFilesEp2
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