Caterina Fake: Don’t start by raising a fund, start with SPVs. SPVs are an underappreciated and overlooked way to break into venture investing. They’re a disruptive on-ramp that rookie VCs use to outmaneuver their slower-moving peers, get into otherwise inaccessible opportunities, and, if all goes as planned, ring the bell at the NYSE or light their cigars with $100 bills. SPV is cheap and easy to set up on a variety of platforms, including AngelList, Canopy, Assure, Carta, Republic, Flow and Stonks. A standard SPV on AngelList takes a couple of days and costs $8,000. Meanwhile, a traditional fund —. . . .