Walk: Homebrew only raised capital from LPs supportive of equal partnerships
Hunter Walk · Homebrew’s Hunter Walk & Satya Patel: Why $100M is Not Enough to Execute a Seed Strategy | 20VC #972 · 20VC with Harry Stebbings · Jan 31, 2023 · at 9:05
Hunter Walk is a co-founder and General Partner at seed fund Homebrew. He explains how Homebrew handled institutional LP demands regarding partner deal attribution and key-man structures during fundraising.
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“The LPs we ended up with were all LPs who were excited about equal partnerships. The ones who passed on us were ones that wanted a single key mat, like this notion of, well, it's great to have multiple GPs, but at funds under a hundred million dollars, we really like to see one person in charge, Steve Anderson, Michael Deering, you know, Chris Saka, you know Jeff Clavier, right. And so the people who I think were really concerned about deal attribution and one person starts, you know you know, pilots of the ship, that type of stuff, like. They didn't invest in us.”
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