[This is one of the first ‘Tactical Notes’ – short-format observations that I jotted down some time ago, where I feel that this snippet is enough and no long format essay is necessary]
Venture Capital today looks like Private Equity a decade ago. It is entering its own private equity era. Product alone is no longer enough — differentiation must be earned through disciplined distribution. That includes how capital is raised, deployed, and reported. The war is no longer just about sourcing alpha — it’s about structuring it.
PS: google “is venture capital dead?” And you will find lots of pundits ranting about what’s wrong with venture capital fund model. While most have some truth and most certainly reflect challenges of the lower three quartile funds (!) they do reflect my sentiment that structure and product are more important than ever.