Prediction Held up AI assessment confidence: 95% certainty 4/5 debate potential 2/5

Left Lane will not increase check sizes despite raising $1.4B Fund II

Harley Miller · 20VC: Scaling to $2BN AUM in 3 years, Fundraising Lessons and Tactics from 2,500 LP Meetings & What it Takes to Build a Firm That Stands the Test of Time with Harley Miller, Co-Founder and Managing Partner @ Left Lane Capital · May 2, 2022 · at 23:33

Harley Miller is the Managing Partner of Left Lane Capital. He explains how the firm plans to deploy its $1.4 billion Fund II without inflating deal sizes.

0:00 / 0:06exact quote · 6.3s
720p mp4 · rendered on demand · StarZero watermark
“It's not like we're going to all of a sudden start doing investments that are double or triple the size, right? We want to keep doing more of the same.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Harley Miller

Disclosure
Left Lane Capital faced widespread LP rejections at its 2019 launch
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Harley Miller May 2, 2022 ▶ 7:25 20VC: Scaling to $2BN AUM in 3 years, Fundraising Lessons and Tactics from 2,500 LP Meetings & What it Takes to Build a Firm That Stands the Test of Time with Harley Miller, Co-Founder and Managing Partner @ Left Lane Capital
Insight
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“Doing what you said you would do, that process and adherence thereof, can be measured in the here and now, and I think that is as, if not more important, right, for allocators”
Harley Miller May 2, 2022 ▶ 10:02 20VC: Scaling to $2BN AUM in 3 years, Fundraising Lessons and Tactics from 2,500 LP Meetings & What it Takes to Build a Firm That Stands the Test of Time with Harley Miller, Co-Founder and Managing Partner @ Left Lane Capital
Insight
Deal picking cannot be taught and relies on innate pattern recognition
“You can't teach picking. I think that's something that's innate and comes with pattern recognition.”
Harley Miller May 2, 2022 ▶ 14:08 20VC: Scaling to $2BN AUM in 3 years, Fundraising Lessons and Tactics from 2,500 LP Meetings & What it Takes to Build a Firm That Stands the Test of Time with Harley Miller, Co-Founder and Managing Partner @ Left Lane Capital
Disclosure
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Harley Miller May 2, 2022 ▶ 16:24 20VC: Scaling to $2BN AUM in 3 years, Fundraising Lessons and Tactics from 2,500 LP Meetings & What it Takes to Build a Firm That Stands the Test of Time with Harley Miller, Co-Founder and Managing Partner @ Left Lane Capital
Prediction Not checkable as stated
Left Lane Capital aims for 4x to 5x net MOIC across funds
“Ownership stake relative to cost base is what ultimately drives and governs a portfolio construction. Otherwise, you have to create two hundred billion dollars of enterprise value aggregate across your portfolio of what you would have as de minimis ownership s…”
Harley Miller May 2, 2022 ▶ 28:33 20VC: Scaling to $2BN AUM in 3 years, Fundraising Lessons and Tactics from 2,500 LP Meetings & What it Takes to Build a Firm That Stands the Test of Time with Harley Miller, Co-Founder and Managing Partner @ Left Lane Capital
Insight
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