Top Tier Capital Partners

12 statements across 1 episodes · 4 bullish · 1 bearish · 2 people on the record · first statement Nov 4, 2019 by Lisa Edgar · said 7 times in 1 episodes since 2019 · across every show →

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brought up most by Harry Stebbings (5), Lisa Edgar (2)

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Everything said about Top Tier Capital Partners, oldest first

Nov 4, 2019
Disclosure
Top Tier never backs first-time fund managers without an investing track record
“While we might invest in first-time funds, we won't invest in first-time investors, so there must be a track”
Lisa Edgar Nov 4, 2019 ▶ 10:49 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019
Insight
Initial LP meetings assess context while second meetings examine portfolio details
“First meeting, it's more context. Who are you? What are you doing? Why is it different? Second meeting is generally drilling a little bit further into companies because you probably have some, a track record of some sort.”
Lisa Edgar Nov 4, 2019 ▶ 10:16 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019 positive
Disclosure
Top Tier Capital Partners added secondaries and co-investments to shorten J-curves
“So we really added secondaries and co-investments to our portfolio construction so that we could really reduce and shorten the J-curve for institutional investors.”
Lisa Edgar Nov 4, 2019 ▶ 5:40 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019
Assertion Not checkable as stated
Lisa Edgar always responds to pitch inquiries sent via warm introductions
“If it comes from somebody I know, i.e. A warm introduction, I always answer. I either take a call or meeting, or I turn it over to someone on my team”
Lisa Edgar Nov 4, 2019 ▶ 8:20 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019 positive
Disclosure
Top Tier Capital commits to GPs who maintain persistent post-meeting follow-up
“Some of these people have been very good at continuing to keep in front of us, and they are the ones that we've ended up Committing to, because they're doing things, you know, they said they're going to do something, they're giving us more information, and so …”
Lisa Edgar Nov 4, 2019 ▶ 18:32 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019
Disclosure
Top Tier's average U.S. venture fund commitment is $20 million
“Our average commitment is twenty million, that's because that's kind of what ours is in our main kind of U.S.”
Lisa Edgar Nov 4, 2019 ▶ 13:50 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019
Disclosure
Top Tier has refused to re-up with top-performing venture funds
“And we've done this, it could be that we're evaluating and doing our compare and contrast, as we call it, and there might be a One of the best performers in our portfolio, and we don't re-up, and the numbers would tell you all day long, you know, with your eye…”
Lisa Edgar Nov 4, 2019 ▶ 11:26 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019
Assertion Not checkable as stated
Edgar: Globalization is the biggest shift in venture capital over 20 years
“It's changed, obviously, dramatically from a very small cottage industry that was really Silicon Valley in Boston, so it was really US-based, and I would say the biggest change that we see today is really the globalization, and sitting in this room, you know, …”
Lisa Edgar Nov 4, 2019 ▶ 7:02 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019 neutral
Assertion Partly supported
Lisa Edgar: Industry standard for GP commitments is 1%
“I think the industry standard is one percent, so you want somebody at least be doing one percent”
Lisa Edgar Nov 4, 2019 ▶ 22:35 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019 positive
Assertion Not publicly verifiable
Lisa Edgar: Top Tier managed two VC fund-of-funds with no J-curve
“We had two fund-to-funds that didn't even have a J-curve. I mean, think about it. Venture capital only, fund-to-funds, no J-curve.”
Lisa Edgar Nov 4, 2019 ▶ 16:13 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019 negative
Opinion
Lisa Edgar prefers conversational pitch meetings over deck presentations
“I cannot go through a pitch deck. I just don't have, I don't have the capacity. I think I'm ADD. I don't know what it is. So I like to have a conversation.”
Lisa Edgar Nov 4, 2019 ▶ 8:53 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
Nov 4, 2019 positive
Assertion Supported
Top Tier Capital Partners' portfolio includes Andreessen Horowitz and Index Ventures
“Included in their stellar fund portfolio is the likes of Index, Initialize, True Ventures, Andreessen, and some of my favorites in Ed and Elliot at Boldstart, just to name a”
Harry Stebbings Nov 4, 2019 ▶ 0:48 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
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