micro VC firms

“I think a very few percentage of these micro firms are going to produce the type of returns expected. And I think it's going to hit sort of the normal distribution of which, you know, 10 to 20%, you know, have a nice return model. The rest are going to, you kn…”

“Today there's close to 300 you know, globally, of which 225 are here in the U.S. And there's another 50 to a hundred that are fundraising.”

“Most of the micro VC firms, and about 48% are 25 and under in, in size. Those are, those typically have no endowments, very, have no pension funds, very rarely have any sort of institutional backing, but are primarily family office High net worth backed.”

“I do think we will start to see some that are more carry focused . I don't know if we'll get to zero percent, but I think we will see some firms raise funds where it's more of like a one in 25, a one in 30. A one And perhaps even higher carry based on hitting …”

“So, I mean, I think, you know, in general, if you sort of look at all the new micro VC firms that have been formed in the last, you know, four to five years, nearly all are between two and two and two and a half percent management fees.”

“I'm generally not in favor of a placement agent with respect to micro VC firms. I think managers should be able to sell their own story. The fundraising element of running a firm is probably one of the most important. Getting the feedback, pitching the story. …”

“Today, we have over 450 micro VC firms in the U.S. Alone. If you look globally, that number is close to 700.”