The Ledger
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Basu Trivedi: Small VC firms must operate as thesis-driven specialists
“When you're a small firm, you can't do everything in today's ecosystem. And so you have to decide where you want to spend time. And so the principle behind being a thesis driven specialist is finding swim lanes where we go deep in certain areas where we look a…”
Trivedi: Footwork plans to add future partners at equal carry
“And so when we will expand our partnership one day, we hope to bring in folks at the same equal level and to give them the platform of our firm as a result.”
Basu Trivedi: Footwork raised Fund I in a single close
“Our approach ended up being a bit different where we said, this is the fund that we want to raise. And ideally we'd want to do it and be one and done on, on a close so that we can figure out what all the different puzzle pieces of LP construction look like and…”
Trivedi: Venture funds need diverse LP bases because allocator categories cycle out
“What you've seen across decades of the venture industry is that different pools of capital can go in and out of the venture market. There have been times where endowments have pulled out of the asset class because they face liquidity challenges and their own o…”
Trivedi: Footwork closed debut venture fund at $175M in April 2021
“That culminated in our decision last fall to go build Footwork together, to start to speak to limited partners, and then in January of 2021, Mike left Stitch Fix, and in April we closed our first fund with one hundred and seventy five million in commitments an…”
Trivedi: Via reached millions in ARR within a year on minimal capital
“And with Via, the product had launched just over a year ago. The business is already at hundreds of customers, millions in annual recurring revenue. It's barely spent any capital and it's in a space of SMS based marketing and customer support in this mobile co…”
Trivedi: Kanyi Maqubela coined 'agglomerator' for multi-stage VC firms
“I have to thank my friend Kanye Makubella at Kindred Ventures for helping me come up with that word, because I've referred to these multi-stage and multi-sector firms as platform firms, but That doesn't feel like a great word to describe them, and in a convers…”