In this note, our analysts examine how entrepreneurial experience affects VC financings, valuations and exits. Prior experience is an asset for entrepreneurs when launching and growing a new venture, and through this new analysis we have been able to quantify exactly how VCs value that experience. We analyze the premiums that investors pay to invest in these experienced entrepreneurs, along with any variance in exit outcomes that investors can expect from serial entrepreneurs. Founding new ventures is not the only way to put entrepreneurial experience to work. Our analysts also explore how successful entrepreneurs use their wisdom and capital to conduct their own investment activity.