Clarkson: LaunchCenter 39 GPs returned uncalled capital to LPs post-2001
Beezer Clarkson · Beezer Clarkson – Sapphire Gem of Early Stage Venture (Capital Allocators, EP.120) · Jan 20, 2020 · at 9:15
Sapphire Ventures Managing Director Beezer Clarkson recounts her early career working at early-stage venture fund and incubator LaunchCenter 39 during the dot-com crash.
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“Come 2001, The world went belly up in tech, and to their credit, back then, GPs gave the money back to LPs. I know, shocking, right? Can you believe it? And so they did well by their LPs, and they gave the money back that wasn't invested, and they basically shut down the fund over time”
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