A Narrative on Today’s Markets vs Years Prior

QED Co-founder, Partner and Chief Investment Officer Frank Rotman shares an extensive Twitter thread on the reality of today's private markets for startups, VCs and LPs vs years past: the "Acceleratio...

Materials & Strategies for the Best Founders (& Emerging Managers)

2048 Managing Partner Alex Iskold shares a fundraising Twitter thread with tactical strategies for early-stage founders, with many parallels for emerging VCs raising from LPs, including deck tips, ens...

Running a VC Fund & Investing in Startups Are Not Always Synonymous

After receiving many cold emails from aspiring VC fund managers asking for investment advice, Elizabeth Yin, co-founder of Hustle Fund, realized people often conflate running a VC fund and investing i...

10 Resources for Understanding the VC Side of the Table

Before Contrary Capital's Jason Chen became a full-time investor, he founded two companies - a common path for many, but requires a new understanding. Jason shares his top resources for getting up to ...

How Much Should I Raise for my First VC Fund?

Henri Pierre-Jacques, Co-Founder and Managing Partner of Harlem Capital, opens the curtain on Harlem's Fund I and shares four questions to consider when determining how much to raise....

Raising a Fund I

Yohei Nakajima shares a great Twitter thread for emerging managers with fundraising data and insights from the recent raise of Untapped Capital's Fund I....

Investor’s Framework: An Update

QED Investors co-founder Frank Rotman provides an updated version of his "Investor's Framework" for how to think about corrections and navigate the choppy waters via Twitter @fintechjunkie....

Tips for Fundraising in the New Market: A Thread

This market continues to raise Qs about VC fundraising. Samir Kaji offers many great tips to fund managers to understand and adapt to the market. ...

On Deal Attribution

Deal attribution. Important for incentives? Or bad for team alignment and culture? Mac Conwell at RareBreed Ventures shares his thoughts....

The Benefits of Joining an Emerging VC Fund

Thinking about joining an emerging VC fund? Nicole DeTommaso of Harlem Capital helpfully breaks down the *why* in this great thread....

The Denominator Effect in Venture

Markets contract and LP asset class allocations need rebalancing. It's the circle of (venture) life. Here's how the denominator effect will hit the VC market....

“Why Seed Funds are Going to Start Investing in More Companies”

Is seed fund math changing before our very eyes? Is 40 companies per fund the new 20? Portfolio construction food for thought from Henri Pierre-Jacques....

“Who Are Your LPs?”

Disclosing who your LPs are is a *very* delicate dance. But as the venture industry, by and large, moves towards greater transparency, the question is increasingly coming to the fore. Here's what LP i...

An LP’s Perspective on the Venture “Slowdown”

Are venture funds starting to pump the brakes on fundraising activity? LP Beezer Clarkson shares her thoughts on what she's seeing in the market nowadays....

The “Biggest Shareable Secrets to Raising a New Fund”

With wisdom from some of the most prominent new fund managers in venture, this thread is jam packed with gems for first time GPs navigating the fundraising process....

Reserves Strategy Tradeoffs

Every fund manager wants to know what the optimal reserve strategy is for their fund. The answer: There's no magic formula... but there sure are a lot of tradeoffs either way! Check out this thread on...

Market Topsy-Turviness

How to make sense of market topsy-turviness? Solid assessment of the current state of the tech market by Redpoint's Logan Bartlett....

How LPs are Thinking Through Market Turbulence Right Now

The market is topsy turvy. What conversations are taking place among LP investment committees as a result? Lindel Eakman of Foundry Group sheds some light....

How and Why VCs Recycle Management Fees

Hustle Fund's Elizabeth Yin takes on how and why VCs recycle management fees in this super helpful Tweet thread....

How will the “pandemic vintage” of funds ultimately perform?

Individual investments follow their own paths but a 'vintage' will succumb to the forces of the mega-trends. Frank Rotman shares his thoughts on how the "pandemic vintages" will look in hindsight....

Fundraising Pacing and the Value of Time Diversity

Have venture funds really been deploying and raising faster than before or does it just seem that way? Let's look to the data! Beezer Clarkson shares thoughts on fundraising pacing and the value of ti...

What LPs Are Looking For When They Invest in a VC Fund

100s of LP meetings, input from many other VCs, and listening to myriad podcasts... It all resulted in these important fundraising lessons from Jarrid Tingle of Harlem Capital. ...

How Does Seed Stage Fund Math Work?

Ownership targets, fund sizes, check sizes... so many variables to consider when modeling a fund's potential. Here Henri Pierre-Jacques helpfully walks us through the seed fund math....

Emerging Manager Fundraising – What the Data Shows

Ready to double click into how emerging managers and first time funds managed last year re: fundraising? Here's what the data shows for 2021 (and what trends might be underlying the numbers), courtesy...

2021 Fundraising Trends – The LP Perspective

Where did LPs invest their money in 2021? And what does it mean for venture in 2022? Time to dig into the data! The LP perspective courtesy of Beezer Clarkson....

VC Exit Model

This VC exit model from Nicole DeTommaso is extremely helpful. It allows investors to see their exit potential at different check sizes. Give it a whirl!...

How Much Do Early Fund Performance Metrics Really Tell You?

How are fast markups changing the game for recent fund vintages? And how reliable of an indicator can recent fund vintage performance *really* be? Excellent Tweet thread from Rob Go digs in on this to...

The LP Perspective Entering 2022

What questions are venture LPs asking as we enter 2022? Beezer Clarkson provides an insightful Tweet thread on investment pacing, "LP indigestion," the IPO market and more......

“Should I Start A Fund?”

Ready to go it alone as a venture investor? There is much to consider! Ryan Hoover walks through the distinct pros and cons of various fund structures in this very helpful Tweet thread....

A Lesson on Quarterly LP Letters

Want to see what a fantastic quarterly LP letter looks like? Josh Wolfe of Lux Capital provides....

Enduring Truths in Venture

Crypto, web3, Sequoia-type fund restructuring... so much innovation is shaking up the venture industry nowadays! And yet, some "enduring truths" about venture as an industry remain as potent as ever. ...

LP Thoughts on Emerging Manager Performance Benchmarks

Want to know how your fund stacks up against the rest of the pack? Particularly in the context of newer vintages? Here's a great thread from Beezer Clarkson on just that topic... plus key insights on ...

Follow-on Strategy

Is first check picking a different skill than follow-on picking? Here's an excellent meditation on follow-on strategy from Gale Wilkinson....

Bad Pattern Recognition

"The key is to know when to trust previous patterns and when to ignore them which is anything but a simple task. Sometimes art needs to override science and intuition needs to override history." Incre...

How To Re-Pitch an LP that Passed Previously

Sometimes GPs need a couple at-bats with LPs before funding is in the offing. Here's a fantastic thread from Beezer Clarkson on what GPs should keep in mind when re-pitching LPs that have previously p...

How to Get Started as an LP

Interested in being an LP? Maybe you dabbled in angel investing, and it’s not for you. But you still want exposure. Investing in a VC fund is a great idea! Where do you start? Yohei Nakajima provide...

Let’s Talk LP Diversity

LP diversity has been a popular topic of conversation lately, but substantive analysis has been hamstrung by the lack of data. Sapphire's Beezer Clarkson finally sheds some light on the true outlines ...

Investment Committees 101

How do investment committees function in the LP ecosystem? Investment offices may *make* the investments, but they are beholden to ICs on risk levels, asset allocation, etc... Excellent peek behind th...

A Peek at the US Pre-Seed Venture Market

There is lots of hype around skyrocketing valuations lately. But what does the data say? Here's a snapshot of analysis from Will Bricker of Hustle Fund across 3000 pre-seed deals....

How Emerging Managers Should Consider Incentive Mechanisms

This fantastic Twitter thread from Marco Cesare Solinas of Blue Future Partners advises managers on incentive design: "If there is somewhere you should avoid being creative, it's here."...

A Conversation on LP Demographics

This Twitter thread from Kia Kokalitcheva of Axios kicked off a highly relevant (and candid!) conversation on LP demographics. Journalists, GPs, and LPs all jumped in to have their say....

On LPs Selecting Venture Capital Fund Managers

There is little transparency on how LPs make decisions to invest in funds. Alexi Malikotsinas spent months talking to different types of limited partners and summarizes his key takeaways here....

Top 10 Learnings from an Emerging Manager Program

In this very popular Tweet thread, Paige Finn Doherty shares her key learnings from Sutton Capital's Emerging Manager program....

So What Does LP Due Diligence Actually Look Like?

In this Twitter thread, Winter Mead of Oper8r shares the collective wisdom of LPs from Sapphire Partners and Accolade Partners regarding the due diligence process for emerging managers....

LP Wisdom from the Bridge Conference

What do LPs look for in emerging managers? Beezer Clarkson of Sapphire Partners shared a roundup of LP panelist insights from the recent Bridge Conference....

Top Investor Relations Tips from the VC Platform Community

Focused on fundraising or investor relations? This Twitter thread is for you. Huge thanks to Lindsay Knight of Chicago Ventures for assembling this list of top IR takeaways from the VCPlatform communi...

Why might an LP turn a GP down?

Here are the top reasons according to one LP. In a fantastic Tweet thread, Sam Ettelaie of the British Business Bank parses through what makes an LP push the pause button on a potential investment wit...

Many Flavors of LPs

"LP" can mean many things in practice, so it's critical to differentiate between varying LP profiles. This Tweet thread by Monique Villa breaks down thinking through varying incentive structures &...

The Nuances of LP Investing

This incredible tweet thread from Hustle Fund's Elizabeth Yin dives deep into LP investing, touching on everything from capital calls, to fund recycling, to crowdfunding, to innovation in legal struct...

Twitter Wisdom: Institutional LPs Share Thoughts on the Recent Rise in Exit Valuations and Impacts on Allocation

In a fantastic Twitter thread, Frank Rotman compiles feedback from a number of institutional LPs on some of the most pressing issues facing the venture ecosystem, including sky high valuations and mor...

CHRISTIE HAMILTON – TWEETING ON ALLOCATION AT CHILDREN’S HEALTH

Christie Hamilton is the Head of Investments at the $2 billion Children’s Health Medical Center of Dallas.  She’s perhaps the most well-followed institutional allocator on Twitter, under the hand...

Do Institutional Limited Partners Back First time Venture Funds?

I recently posted this Twitter thread about the role institutional LP’s play within the emerging VC fund market (Side bar: I’m likely going to push more content through Twitter threads this year, ...