Disclosure certainty 4/5 debate potential 1/5

StepStone takes advisory board seats on almost all its partner GPs

Hunter Somerville · Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner · Jun 5, 2024 · at 18:19

Hunter Somerville, partner at StepStone Group, explains StepStone's strategy for engaging closely with underlying venture fund managers.

0:00 / 0:13exact quote · 13.9s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“We want very hands-on relationships with anyone that we work with on the GP side, and it's because we do secondary and direct investing alongside of them, because we take advisory board seats on pretty much everyone that we work with.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Hunter Somerville

Opinion
StepStone believes India lacks 20 to 30 VC managers worth backing
“We're not gonna suddenly have 20 to 30 managers in India. That, that's not our desire, and I don't think there's 20 to 30 that we would view as worth doing at this point in time.”
Hunter Somerville Jun 5, 2024 ▶ 28:04 Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner
Insight
GP management quality no longer matters much in late-stage fund secondaries
“That is entirely driven by the assets particularly because at that point in time, the GP Can't screw it up either way. You know, there's not really much left to decide on. Reserves have been mostly deployed. It, the GP itself doesn't matter as much.”
Hunter Somerville Jun 5, 2024 ▶ 43:56 Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner
Insight
Evaluating VC managers solely on DPI causes LPs to miss emerging talent
“If you're waiting around and just judging what people have done on a realized basis or in DPI, you're not going to have a good sense for the momentum in those managers, and you'll probably wait too long to eventually pick A really interesting up and coming gro…”
Hunter Somerville Jun 5, 2024 ▶ 5:58 Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner
Opinion
Multi-stage platform VC brands always maintain an advantage at Series A
“Particularly like when you look at Series A, those groups always maintain an advantage.”
Hunter Somerville Jun 5, 2024 ▶ 12:45 Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner
Opinion
Indian startups can IPO at $100M revenue compared to $200M in US
“From our interpretation, it feels like companies are able to go out at a smaller top line scale. Than you would see in international markets where it's viable maybe in the hundred to one hundred fifty million top line range instead of what seems to be more lik…”
Hunter Somerville Jun 5, 2024 ▶ 23:36 Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner
Opinion
Southeast Asia lags on DPI realizations but will eventually improve
“Southeast Asia is still earlier on its journey and has not actually, in my opinion, shown as much from a realization DPI standpoint. I think that will improve.”
Hunter Somerville Jun 5, 2024 ▶ 33:33 Global VC's Honest Opinion About India's Startup Ecosystem Explained | Stepstone Group Partner
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 300 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.