Insight certainty 4/5 debate potential 2/5

Clark: LPs must invest across every vintage rather than timing markets

David Clark · David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings · Mar 25, 2024 · at 21:09

David Clark is the CIO of VenCap International, a venture capital fund-of-funds manager. He is sharing LP allocation strategy for capturing liquidity across market cycles.

0:00 / 0:09exact quote · 9.2s
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“From an LP's perspective, the way that you're able to do that is to make sure that you are investing consistently across every vintage. You're not trying to time the market.”

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 David Clark

Assertion Supported
Clark: 45 Venture Investments Have Returned $1B+ to a Single Fund
“So we had a look at our data and we found 45 investments that have returned a billion dollars to the single fund that invested and were also fund returners.”
David Clark Mar 25, 2024 ▶ 0:05 David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings
Assertion Supported
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David Clark Mar 25, 2024 ▶ 9:35 David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings
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Clark: Tech venture exit sizes will increase over next 10-15 years
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David Clark Mar 25, 2024 ▶ 14:44 David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings
Prediction Open · timeframe Mar 2029
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Disclosure
Clark: VenCap last added a net-new fund manager in 2018
“Our last one was probably 2018. And it was a fund 18.”
David Clark Mar 25, 2024 ▶ 26:34 David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings
Insight
Clark: LPs prioritize capital deployment over 15-year fund performance
“Most LPs probably aren't going to be in the same job when that feedback comes. So they're more worried about deploying than they are about what happens 15 years down the line when, you know, when the performance data is, is actually in.”
David Clark Mar 25, 2024 ▶ 32:02 David Clark: Lessons from 32 Years of Fund Investing - Why Exits Will Be Larger | E1131 · 20VC with Harry Stebbings
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