Avoid Emerging VC Managers Who Prioritize Carried Interest Over LP Outcomes
Steve Pagliuca · Celtics Owner Steve Pagliuca: What Went Wrong with the Chelsea FC Acquisition | 20VC #976 · 20VC with Harry Stebbings · Feb 11, 2023 · at 56:00
Steve Pagliuca, Senior Advisor at Bain Capital, outlines what he looks for when evaluating emerging venture capital managers.
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“Well, the first thing I look for is they have to have a passion for what they're investing into, and their passion has to extend to say they want to do a great job for investors. So when someone comes in with a pitch and says you know, I want to do this, and I'm going to get a 20% carry, and that's the ones I shy away from. The ones that say, you know, I want to build the best set of biotech companies, and I want our investors to be with me in that, and co-invest with me, and if our investors do well, I'm going to do well. You know, those are the folks that I like.”
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