Chemistry

“If there is no chemistry, this is not gonna work. So because of my imposter syndrome, I tended to trade off chemistry for experience. And with very rare exceptions, it always went bad.”

“One of the best piece of advice we got was build a diverse set of LPs and not in terms of the institutions you just described Fund to fund family office you know endowments and foundations, but people that, you know, think differently and think independently.”

“Our view with chemistry is that the idea of having a small team, clean slates, this playing offense at a moment where many people are distracted is a really interesting idea for founders that want that, that kind of relationship.”

“I can't remember what legally we have as the concentration limit, but certainly we don't want more than 10% of the fund in a single company.”

“We wanted to keep enough diversity in the fund where we didn't get anybody, you know, kind of much over 10%. And that was kind of where we adhered to. So we wanted about 20 LPs and that's pretty close to where we landed.”

“In office every day is a really important tenant of how we think about building. You know, we're a new team. We're a startup, right? Like we need to be shoulder to shoulder.”

“We had some LPs say exactly the same advice, which was one of our more surprising moments from our fundraise where some of the LP said, you know, listen, it's that important that you're in some of these brand deals to be able to establish yourselves and don't …”

“The biggest reason we heard was the three of you haven't worked together. And there's a lot of teamwork, team risk and a new fund at this size with three people.”

“It's about a three-year fund, and we'll have, you know, about 25 investments in each fund.”

“Because it focuses you in a way that I had not done before where the date, the danger of the optionality of being able to do every stage at every time is you have to keep so many doors open. There is something that, that focuses the mind by saying, this is the…”

“So we are a single trigger model, which means that any one of the three of us can make a decision on an investment and go with it.”