The Case for LP Allocation and GP Conviction in Venture with Sam Sadowsky

Highlights from this week’s conversation include:Christopher’s Background and Journey in Venture (0:13)Venture Capital as a Place of Hope (4:33)Macroeconomic Trends in Venture (5:50)Activity in the Secondary Market (7:44)Platforms and Working with Them (12:30)LPs' Preferences in the Market (14:37)The role of venture capital in the global economy (16:43)Working with institutional LPs (17:38)Tailoring services for different client types (19:00)Structural approach to client services (22:19)Navigating the slow-moving venture capital landscape (24:41)Insider Segment: Vested’s API integration (27:29)Cold emails vs. Warm intros (00:31:55)Looking beyond current AI trends (33:45)Meeting etiquette and deal pitches (35:29)Long-term relationships in venture capital (39:07)Transitioning within venture capital firms (42:32)Fundraising advice and market entry strategy (45:52)Final thoughts and closing remarks (47:22)Knightsbridge Advisers has dedicated more than four decades to building premier portfolios of venture capital relationships in the industry and providing institutional investors access to strong performing venture managers. Knightsbridge focuses on fund of funds and separately managed accounts for primary, secondary, and opportunistic investments in venture capital and growth equity partnerships. Learn more: knightsbridgevc.com/ Vested empowers startup employees to capitalize on their hard-earned equity, primarily by providing funding to help exercise stock options. The company’s overarching mission is to democratize access to equity, ensuring that startup employees both understand and have a real chance to tangibly benefit from the shares they’re granted.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:The Series A Crunch (0:59)Concentration of LP Capital in Mega Funds (4:22)Partnership Questions in VC (12:24)Start, Bench, Cut of Alternative Investment Products (21:34)Emergence of Solo GPs and Potential Mergers (27:56)Debate on the Potential of 2024 as a Breakout Vintage Year (30:28)LP Update Strategies and Being a Better Ally (33:20)The Power Law (41:22)The Next Novel Approach (42:53)Venture Capital's Future (44:30)Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Derrick’s background in venture capital (0:19)Transition to public sector (2:27)The Government's role in innovation (4:55)Public perception of government in venture capital (8:40)Government programs for venture capital (10:48)Constraints of public funding (13:11)Coordination among state programs (15:18)Purpose of public venture funds (17:14)Supporting Underrepresented Small Businesses (17:34)Investing in Diverse Teams (22:41)Insider Segment: Vested’s Differentiation from Competitors (24:59)Considerations for Pre-IPO Shares (25:35)Thought Leaders in the LP Community (27:11)Allocation for Diversity and Climate (29:16)Definition of Climate Justice (31:01)Unique Aspects of Climate Investing (34:02)Mission and Returns in Inclusive Investing (37:30)Fund Size and Deployment (40:35)Final thoughts and takeaways (42:15)Derrick Tang serves as the Deputy Director of Venture Capital at IBank California, a role he was appointed to by Governor Gavin Newsom. With a rich background in climate change, venture capital, and government leadership, Derrick has dedicated his career to increasing access to capital for entrepreneurs. His work focuses on supporting underrepresented fund managers and entrepreneurs, with an additional emphasis on climate justice investments. Derrick's previous roles include leading the Climate Investments team at the Bay Area Air Quality Management District and managing grants at the California Clean Energy Fund (CalCEF). He holds a B.S. in Chemical Engineering from Cornell University and is passionate about leveraging venture capital to drive social and environmental change.Vested empowers startup employees to capitalize on their hard-earned equity, primarily by providing funding to help exercise stock options. The company’s overarching mission is to democratize access to equity, ensuring that startup employees both understand and have a real chance to tangibly benefit from the shares they’re granted.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Peter’s background and journey Into finance (0:58)Strategy of Institutional LPs (2:30)Bandwidth Constraints and Time Management (5:53)Lessons Learned from Early Stage Programs (8:01)Criteria for Fund Managers (10:11)Transition to Institutional LP and Governance Structure (12:56)Challenges Faced by Institutional LPs (16:10)Excitement about certain investment strategies (19:24)Overview of the Kauffman Fellows program (23:04)Insider Segment: Vested's target audience and investor interest (24:32)Ingredients for successful LP-VC partnership (30:45)Role of limited partners in the future of venture capital (33:24)Proud venture capital investment (35:49)Investing with Creativity and Conviction (38:03)Final thoughts and takeaways (38:50)Peter Teneriello is a multifaceted professional with a rich background in finance and private equity. At 33, he boasts a B.B.A. from the University of Notre Dame, complemented by his participation in the Kauffman Fellows Program. His career includes significant roles at Sapient Capital, Stifel Financial Corp., and the Texas Municipal Retirement System. As a Kauffman Fellow, Peter has demonstrated a commitment to innovation and leadership in the investment field. His interests in technology and ethical considerations in AI highlight his forward-thinking approach.Vested empowers startup employees to capitalize on their hard-earned equity, primarily by providing funding to help exercise stock options. The company’s overarching mission is to democratize access to equity, ensuring that startup employees both understand and have a real chance to tangibly benefit from the shares they’re granted.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:The Growth and Evolution of Impact Investing (0:47)Misconceptions about Impact Investing (3:34)Impact Investing in Political Climate (7:59)Spring Point Partners' Mission (11:07)Venture Capital and Impact Strategy (12:28)Assessing and Vetting Fund Managers (14:41)Impact Labeling for Fund Managers (16:47)Fundraising Strength and Networked Wealth (19:13)Silicon Valley Diversity (23:03)Shared Ownership and Participatory Investment Models (28:31)Insider Segment: Stock Option Funding (33:33)Climate Investment Opportunities (42:13)Intersection of Planetary and Human Well-Being (44:06)Community Ownership in Renewable Energy (46:04)Industries and Investment Trends to Avoid (49:47)Applying Historical Frameworks to Investing (55:04)Final Thoughts and Takeaways (57:02)Spring Point Partners is a social impact organization that invests in the transformational leaders, networks, and solutions that power community change and advance justice. We do this by: Seeking out and supporting community leaders who have the vision to see what’s possible and the drive to make that real.Connecting the experience of partners with comprehensive and flexible supports for shared learning and impact. Investing in innovative ideas and adaptive solutions that can spark and scale change for all. Whether we’re partnering on youth development, human-centered learning, animal welfare or water sector leadership or investing in new business models that close opportunity gaps and boost social and economic mobility, we center equity and justice in all we do — supporting individuals and ideas that can have a catalytic impact in their communities and on our society.  Together, let’s change the way social impact is achieved. Learn more: www.thespringpoint.com.Vested empowers startup employees to capitalize on their hard-earned equity, primarily by providing funding to help exercise stock options. The company’s overarching mission is to democratize access to equity, ensuring that startup employees both understand and have a real chance to tangibly benefit from the shares they’re granted.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies.The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Alex's experience as a VC turned LP (0:51)Insights into evaluating smaller funds (2:20)Characteristics of a good LP (6:44)Role of an LP as a sounding board (8:06)Constructing an LPAC (10:39)Continuing relationships with funds (12:15)Pitch to LPs for Slipstream Investors (14:17)Evaluating Emerging Managers (18:53)Sector-Focused Funds (24:05)Insider Segment: Navigating Venture Capital’s Evolution (25:45)Diversification of Investment Opportunities (28:35)Future of Venture Capital (30:38)Fund Management and Responsibilities (34:45)Active Investing and Fund Sourcing (35:33)Optimal Time for Venture Investment (37:08)Final thoughts and takeaways (38:26)Alex Edelson is the Founder and General Partner of Slipstream Investors. Before starting Slipstream, he worked at QED Investors, a top fintech-focused venture capital firm with $4.3 billion in assets under management. Alex joined as Nigel Morris's Chief of Staff and became the Chief Operating Officer and General Counsel. He previously worked at a fintech startup and spent seven years practicing law. Alex holds a J.D. and B.A. from the University of Michigan. Learn more at www.slipstream investors.com.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies.The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:The Origin Story of TSWII (1:04)Kate entering the finance industry (6:07)Family dynamics and alignment in investing (8:28)Transition to private investments (00:11:02)Exploring the full spectrum of investments (15:14)Sourcing and Early Stage Investment (18:58)Investing in Female Managers (22:26)Innovating for Parity (24:02)Insider Segment: Simplifying SPVs for fund managers (26:47)Trends in Special Purpose Vehicles (29:53)Negotiating Terms and Warehousing Deals (32:34)Sustaining Interest in Venture Capital (35:59)Investing in Diversity and Community Building (36:41)Solving Big Problems and Impact Investing (40:00)Sourcing and Supporting Emerging Managers (43:03)Wealth Transfer and Women's Investing (50:32)Encouraging Women to talk about money and investing (55:31)Final thoughts and takeaways (58:07)Kate Nevin is President and Portfolio Manager at TSWII Capital Advisors, a role she has held for over 20 years. She is active with many industry groups (such as The Academy of Institutional Investors and Nexus) and community organizations focused on conservation and gender equality. She was a Riley Diversity Fellow. Both in her work at TSWII and as a diversity fellow, Kate has ensured that female founders have access to mentoring, networks, and coaching in order to thrive. Learn more: tswii.com.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:The LA venture ecosystem (0:43)Unique investment opportunities in LA (3:54)Leveraging entertainment and deep tech in LA (6:42)The Partnership between Josh and Ankeet (7:47)Finding the right partner (9:23)The goal of FirstLook Partners (11:35)Fee structure of fund of funds (15:47)Strategy Shifts and Market Validation (18:13)Co-Investment Strategy (20:05)Investment Thesis and Co-Investment Opportunities (21:30)Insider Segment: Fund Administration and the Rise of Hybrid Fund Models (24:42)Product Development and Core Focus (27:18)Future of Venture Capital and Hybrid Fund Models (31:36)Sourcing new managers (36:46)Criteria for manager selection (37:41)Unique investment strategies (38:24)Venture allocation and market dynamics (43:40)Challenges in decision-making and final takeaways (44:57)Founded in 2023, FirstLook Partners is a hybrid fund of funds investing in venture capital firms under $50M and software companies. FirstLook is managed by Josh Porter in Los Angeles, CA and Ankeet Kansupada in Chicago, IL. Visit their website at firstlookpartners.com.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Edward and Earnest’s Basketball Memories (0:47)The importance of pension investments (5:42)How fund managers should approach pension plans (7:59)Unique challenges of pension plans (10:41)Role of venture in the portfolio (13:02)Impact of public markets on venture deployment (14:14)Looking for new managers in 2024 (16:11)Investment vehicles (18:17)Insider Segment: Revolutionizing Venture Capital Operations (20:44)Fund administration best practices (23:24)Trends in SPVs (24:52)Warehousing deals (28:33)Comparison and tracking of managers (31:02)DPI and Valuation Accuracy (32:50)Liquidity and Capital Strategies (35:06)Zombie Funds and Succession Planning (37:44)Venture Capital and Portfolio Diversification (44:08)Final Thoughts and Takeaways (45:38)The San Francisco Employees’ Retirement System (SFERS) is dedicated to securing, protecting, and prudently investing pension trust assets, administering mandated benefits programs, and providing promised benefits to more than 77,000 active, vested, and retired City and County of San Francisco employees and their survivors. SFERS administers two benefit programs, a $33 billion Pension Plan (defined benefit plan) and a voluntary employee 457(b) Deferred Compensation Plan. For more information, visit their website.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Chris’ background and expertise in private market investments  (0:12)Challenges of Venture Capital (2:14)Multifamily Offices and Client Demographics (4:42)Advice on Participating in Alternative Investments (6:16)Sourcing of Fund Managers (8:22)Behavioral Finance and Market Behavior (9:45)Opportunities in Private Credit (12:37)Behavioral Finance in Due Diligence (13:17)Insider Segment: Matching Team Talent to Capital (15:59)Valuing People and Operations in Startups (17:36)Market Bubbles, Crashes, and Underwriting Strategies (19:10)Networking, Learning, and Building Brand (24:39)Impact of Institutionalization on Private Investments (26:31)Negotiating with Fund Managers (29:36)Adapting Criteria for Fund Managers (32:21)Fun Fact: Chris’ Private Detective Days (33:15)Final Thoughts and Takeaways (35:45)Caprock, founded in 2005, provides aligned management of complex wealth for ultra-high-net-worth individuals and families. Caprock goes beyond investment execution, managing each client’s entire balance sheet for true alignment with their objectives. The firm is a privately held, multi-family office with more than $8.6 billion in assets under advisement. Caprock specializes in non-public markets, managing more than $4 billion in private market investments. Furthermore, Caprock adheres to a longstanding and principled approach to integrated impact investing. The firm serves as a full-service outsourced Chief Financial Officer and Chief Investment Officer, offering clients unique portfolios that secure their financial legacy, free from Wall Street’s constraints and conflicts. The firm is an SEC-registered investment advisor and a founding B-Corporation with locations in Boise, Seattle, San Jose, Newport Beach, Park City, New York, and Austin. This site is intended to provide general information about Caprock and is not a solicitation or offer to sell investment advisory services except in states where we are registered or where an exemption or exclusion from such registration exists. All content is for informational purposes only and may not constitute a complete description of available investment services. Registration with the SEC does not imply a certain level of skill or training.Armstrong International is a specialist financial services executive search firm with 30 years'​ experience across Public and Private Markets. Our consultants possess deep subject matter expertise within; Fixed Income, Equities, Private Equity, Private Debt, Digital (Data Science & Technology), Private Wealth, Corporate Finance, Real Estate, Infrastructure, Emerging Markets, Credit, FX, Emerging Markets & Commodities We are trusted by some of the world's leading financial institutions, who use us for 3 primary reasons: industry expertise, speed of hire, and ease of doing business. We like to innovate and have been at the forefront of some of the most profitable and exciting changes in the industry, including the technology revolution and the ever-expanding world of Private Markets.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.