Beezer Clarkson
Managing Director, LGT Capital Partners. On 2 shows, 7 appearances. The Shows tab opens the full record on each.
investorexecutive@Beezer232 ↗LinkedIn ↗lgtcp.com ↗
Elizabeth "Beezer" Clarkson is a limited partner who has committed over $1.2 billion across more than 200 early-stage venture capital funds globally. In 2016, she launched OpenLP, a platform fostering transparency between tech founders, general partners, and limited partners.
2shows
7appearances
97statements
31resolved
21supported
2contradicted
68%fully supported
25said about them ↓ Everything Beezer Clarkson said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Clarkson: LPs are shifting to accept partial secondary sales of winners
“And I've heard LPs that used to say, hold on to all your winners all the time are now saying, well, I meant that. But in context, there are times when it could be useful.”
Clarkson: Absolute TVPI-to-DPI gap is likely largest since dot-com crash
“The only other time that would be equivalent would be about 99 and 2000, and I don't know if there is the volume of funds in the market then, so, and absolute numbers, he's probably right.”
Clarkson: LPs internally discount GP fund valuations by 20% to 25%
“Well, I know a lot of LPs that will ask their managers, and then go back home and take another 20 to 25% off the top, because there's things that nobody knows.”
Clarkson: Auditors urged venture GPs to coordinate valuations in late 2022
“Well, and then I heard stories, and this is a story, so put it under the rumor and hearsay bucket, but that last year, the end of twenty-twenty-two, when the auditors were getting involved, they were telling GPs to talk to each other to try to figure out how t…”
Clarkson: Multi-billion-dollar VC funds disconnect GP fees from actual returns
“If you have a fund that's, I don't know, many billions, you're going to have a number of GPs that are making significant dollars, assuming it's spent Not spent on platform and other things. But if you can make that kind of money without even returning the fund…”
Clarkson: The list of elite VC managers with unconditional LP backing is shrinking
“There are always going to be some managers that have that kind of LP pull that people will just keep working with. But I think that list is getting smaller, and I think the names are switching around.”
Clarkson: Growth equity mindset in early-stage funds fails long-term
“It's so clear in early stage, if you're not taking a big swing for the fence, which doesn't mean saying taking like ridiculous, I haven't thought about it risks, right? But you just have a lot of people that think that they can do sort of smaller investments, …”
Sapphire Partners: 3x venture funds require at least one 1x fund returner
“We've yet to see a fund that's returned three or more X that does not have a company that's returned at least one time the fund.”
Beezer Clarkson: LPs are continuing to make new venture commitments
“That's not true. I think LPs are being more selective and making new investments. I know we are, I know others that are, They're absolutely making new investments.”
Clarkson: LPs face liquidity strains from pulling forward future budgets
“A lot of LPs also pre-spent future budgets, if that makes any sense. If you were raising a fund every 18 months, and I thought you were raising every three years, I had two choices. Either I pull from future year budgets, or I reduce my check so that I stay co…”
Clarkson: Extended market downturn will force institutional LPs to sell holdings
“I think we're seeing some, the tip of the iceberg. And if the market doesn't come back, there could be a lot more. And that is when, to your point about When endowments and foundations and other LPs have to make some really hard choices about what they keep in…”
Clarkson: Sapphire underwrites Series A funds to 3x and Seed to 5x
“But on the math of it, we just underwrite a series A fund to a three X and C to a five X, and you just look at what the numbers line up at, and you say, okay, so given the ownership and given the AUM, what needs to be true to return the fund one time, half a t…”
Clarkson: Some Sapphire-backed emerging funds struggled to cover basic rent
“We've had some funds in our program where I'm a little worried they can't pay their rent.”
Clarkson: Strict GP commit requirements create unnecessary barriers for new managers
“To your point about GP commit, yes, it has been an unnecessary barrier to entry for too many GPs.”
Clarkson: Venture capital LPAs are overly complicated and useless
“It's so hard to read. It's so complicated. It's so not useful. It's supposed to be a tool to understand how our relationship works, and it's just a big legal pile of documents.”
Clarkson: Venture capital breakage between Fund I and Fund II averages 50%
“We've been looking at data going back to 1995. I was shocked at the breakage. The breakage between Fund One and Fund Two is not every year, but averages out to be about 50%.”
Clarkson: Only 17% of venture funds successfully reach Fund IV
“What was also sort of heartbreaking was the fund one to fund four on average, again, these are averages, some years are better, some years are worse, is 17%.”
Clarkson: VC firms are unstapling core and opportunity funds
“The other thing we're seeing in this market is people are unstapling their funds because a number of LPs felt dragged into it”
Clarkson: LPs were complicit in market froth by feeding larger funds
“LPs were just as complicit in all of this as anybody else because fed the beast, invested in the funds, and LPs have a habit of if they find something that's working, you want to put more money in it, but if Putting more money in it means the funds get larger …”
Clarkson: Overallocated LPs are freezing venture commitments for 12 to 24 months
“We're hearing from our fellow LPs that they are stuck on and committing this year, potentially next year, because of exactly this. They did so much because they felt they had to preserve relationships, and they were looking to make money for whatever instituti…”
Clarkson: Sapphire underwrites Series A funds to 3x net, seed to 5x
“The only thing that we go in looking at it from an underwriting perspective is we look to underwrite series A exposure to a three X net, which means we want the funds to be able to produce that, and then we can get into portfolio construction and see the bar i…”
Clarkson: Venture halts if tech workers and founders lack financial rewards
“If the entrepreneurs and the employees are not getting the rewards that they need to stay in the business, then this whole business stops. Like GPs and LPs can't make this business go. It is a hundred percent the people making the companies go.”
US VC Fundraising in 2016 Hit Highest Level Since 2001
“At the end of Q-three, we pulled some numbers, thanks to our friends at PitchBook, and there's been thirty-three billion raised by 157 funds. This is just in the U.S., And what's really interesting about this is we haven't seen this much money raised in one ye…”
The other half of the tape: Beezer Clarkson's own voice is left out of every number here. Other people bring the name up 25 times in 10 episodes across the shows. every mention, with the transcript →
Who brings them up most Harry Stebbings 19Michael Eisenberg 2Jason Lemkin 2Semil Shah 1Katie Stanton 1
Every mention by year
tap a year for its mentions
20VC 25
2024 2 mentions in 1 episode
2023 6 mentions in 1 episode
2020 2 mentions in 2 episodes 1 per episode
- 20VC: How Fundraising For Funds Has Changed in The World of COVID, The Benefits of Managers Selling Part of Their GP & How To Think Through Your "Minimum Viable Fund Size" with Lo Toney, Founding Managing Partner @ Plexo Capital
- 20VC: Moxxie Ventures' Katie Stanton on What It Takes To Raise A First Time Fund As A Solo GP, The Entrance of Multi-Stage Funds Into Seed Rounds and The Inverse Relationship of Those That Fund Diverse Managers and Those That Say They Do
- every mention in 2020, scene by scene →
2019 1 mention in 1 episode
2017 2 mentions in 1 episode
2016 12 mentions in 4 episodes 3 per episode
- 20VC: The 3 Things LPs Want To See From VCs & Why The Table Stakes For VCs Is Higher Than Ever with Judith Elsea, Co-Founder @ Weathergage Capital
- 20VC: What It Takes To Raise A VC Fund & Investing in First Time Fund Managers with Michael Kim @ Cendana Capital
- 20VC: The 4 Required Powers For A Startup To Be A $500m Business with "The Most Powerful Woman in Startups", Ann Miura Ko, Co-Founder @ Floodgate
- 20VC: Will LPs Replace GPs with Chris Douvos, Managing Director @ VIA
- every mention in 2016, scene by scene →
One line per show, most statements first. The link opens Beezer's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
| 20VCLEDGER | Managing Director, LGT Capital Partners | 4 | 70 | 66% 19/29 | full record on 20VC → |
 CAPITAL ALLOCATORSLEDGER | Managing Director, LGT Capital Partners | 3 | 27 | 100% 2/2 | full record on Capital Allocators → |