LPs

“Those marks are going to be tough in the next couple of quarters. So yes, I think like all of us, LPs are reassessing the environment, trying to figure out what to do, And my guess is that they'll do what many others are doing, which is retrench a bit. And my …”

“Investors, LPs in venture funds have basically put on the brakes. And so any fund that is trying to raise right now is having a pretty hard time for the most part.”

“Top LPs last year reported, had 90% average IRR. So they got drunk on this too, and they fueled it, and they took this stuff seriously.”

“If you did not, as a GP, if you've been investing more than six or seven years, and you didn't have multiple billion dollar cash outcomes in 22, at the best, because they were it was just so accelerated, You never will. Like, the LPs should just quit on you.”

“None, one, none of them want another manager. They don't. Okay. It's not that they won't take another manager in like they will, right? If you or I sent one of them an email and said, this is the best new fund on planet earth, they will probably write up, writ…”

“On the re-ups, from what I understand, and I speak to a lot of LPs, if you had the chance to produce DPI last year, and you didn't, you're in the bad books.”