Wagner: LPs are frustrated by mega-funds and seek pure-play early-stage VC
Peter Wagner · Peter Wagner: 27 Years of Investing Lessons of Picking Founders, Price Discipline & Reserve | E1123 · 20VC with Harry Stebbings · Mar 6, 2024 · at 57:31
Peter Wagner is a Founding Partner of Wing Venture Capital and former Managing Partner at Accel. He discusses LP appetite for pure-play early-stage venture funds relative to multi-strategy firms.
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“There's a lot of demand for unadulterated early stage venture capital, you know, being practiced by experienced people with a track record. And a lot of the very best people with those track records, you know, are within aircraft carriers now, and the LPs are somewhat frustrated by, you know, ok, maybe I get to put a dollar in the early stage strategy, and I got nine other dollars, you know, going across all these other strategies, and so, so when you show up with a pure play early stage strategy with, you know, people that know what they're doing, like, there's a fair amount of investor interest in that”
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