Carry

4 statements across 4 episodes · 1 bullish · 3 bearish · 4 people on the record · first statement Oct 21, 2022 by Harry Stebbings · across every show →

Everything said about Carry, oldest first

Oct 21, 2022 negative

Assertion Supported

Stebbings: LP allocators lack carry alignment because they are salaried

“The reason for this is LP incentive structures. They're largely salaried and bonused, and they're not really aligned in terms of carry and performance based.”

Harry Stebbings Oct 21, 2022 ▶ 21:16 Kyle Harrison: Why 75% of Active Investors Will Disappear in the Next Few Years | 20VC #940 · 20VC with Harry Stebbings

Jun 17, 2024 negative

Insight

Danny Rimer: Larger VC funds delay carry and shift focus to fees

“We've always been focused on getting to carry as soon as possible. And the larger the funds, the longer it will take and the more attractive the management fee is.”

Danny Rimer Jun 17, 2024 ▶ 31:05 Danny Rimer: The Biggest Lessons from Missing Snap, Airbnb, Spotify and Facebook | E1166 · 20VC with Harry Stebbings

Mar 10, 2025 positive

Disclosure

Emergence Capital Founders Forfeit Their Carry Upon Retirement

“Our founders made the very generous choice to when they step away from the business and retire to forfeit their carry.”

Jake Saper Mar 10, 2025 ▶ 1:29:41 Jake Saper, GP @ Emergence Capital: "We Sold Salesforce Early and Lost Out on Billions" · 20VC with Harry Stebbings

Feb 2, 2026 negative

Assertion Supported

Zeev: Management fees exceed carry value in mega VC funds

“Look, especially in the larger funds the compensation that the V, that the GP gets from the management fee, especially if you account for time value of money is typically greater than the than the upside.”

Oren Zeev Feb 2, 2026 ▶ 46:03 Oren Zeev: Why AI Growth Expectations Are BS & Won't Last? Why GPs Shouldn't Tell LPs Their Strategy

Carry

Everything said about Carry, oldest first

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