venture capital manager

“I've always had this hypothesis that fund three is like the optimal fund. It's where, you know, hunger and experience intersect.”

“One of the things that's happening to a lot of our peers that we've been able to watch is that they haven't been getting the money back from their venture capital managers as fast as they thought they were. So those tails are much longer.”

“I think the data we saw at the time was something like 80% of venture Managers don't return capital and only six or seven percent return enough capital to justify their existence.”

“Interpreting if a manager is in your conference room and you're saying, tell me about these five deals and, you know, to ask, were you the lead? Were you the lead? Were you the lead? No, no, no. And you start to realize, okay, this manager has fallen from a pl…”

“Now we've just started calling them opportunity funds, which by the way is just a sneaky way around the issue of my LPs don't want me to get too big. So I'll leave my core fund the same size, but I'll raise this opportunity fund.”

“You're going to see a lot of turnover in the LP base for managers broadly, as people see who really performed well, and what was a very promiscuous environment, and those people who stayed at the party too long”

“Particularly in venture where we will do, we prefer not to, but we will do five or ten million dollar checks to get A toehold with somebody and then try and grow it over time.”