Despite initially raising a successful $150 million for Fund I, Streetwise Ventures encountered significant hurdles in securing the desired $300 million for Fund II, resulting in layoffs and strained relationships with portfolio companies.

The firm's difficulties in securing follow-on funding for promising startups have led to the closure of at least one company, with founders unfairly bearing the blame for failures that were partly due to investor shortcomings.

The story centers on Rosie Wood, a venture capitalist at Streetwise Ventures, as she faces the challenges of her firm struggling to raise a second fund in a rapidly changing investment landscape.

The venture capital landscape is increasingly consolidating around larger funds, which places mid-sized firms like Streetwise in a precarious position, making it difficult for them to compete effectively.

Amidst these challenges, Rosie struggles with the pressure of not being able to support Rebecca, a founder in need of $25 million in Series B funding, highlighting the tension between investor expectations and market realities.

Ultimately, as Streetwise Ventures shuts down without any media coverage, Rosie transitions to a larger fund, underscoring the often unseen consequences of VC firm failures on founders and the broader industry.