LPs

“The KRA is that if you can't get your exited founders back as LPs, then we've screwed up somewhere.”

“That's the job of VCs and LPs for which this amount of money is just dropping the ocean. Why would you put your own house on the line”

“In many of these scenarios, the junior partners don't have enough interaction or connection with the LPs because they don't do the fundraising exercises or the fundraising calls. And so you know, if the senior partner leaves, then the LPs get spooked, and you …”

“Right now what I'm seeing is probably more of like a festering kind of situation because it's pretty difficult to spin out and start your own firm right now. You know, people who may want to do that are just going to choose to wait because LPs aren't adding a …”

“Gross is meaningless to LPs. You have to have net net of fees.”

“LPs as well as GPS. We have all realized that all numbers are good, but there's only one number that eventually matters. And that is DPI, right?”

“I think they're okay taking sometimes even lack of performance in a particular fund, but they're backing a certain strategy. What they don't like is sort of macho behavior where you said I will do X, but you end up doing Y because then that's not consistent wi…”

“We see, I think I feel half of it is a sales job. You're selling yourself to the founder when you're selling yourself to LPs that's a large part of your job.”

“Every Monday they said, I know there's a temptation to want to put more money in, but we told our LPs we have to invest over a three year time horizon. We're on that time horizon. We don't want to go faster. So we've been pretty judicious with how we do that.”