[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] Exceptional managers demonstrate process discipline and high-touch relationship crafting. The myth of institutional vs. personal is a false binary. Sophistication in process … Continue reading Tactical Notes: Institutional is Personal
[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] The best LPs are intellectual partners — equal in vision, asymmetric in pressure-testing. LPs are mission-critical partners, not passive capital. Too many … Continue reading Tactical Notes: LPs Are Not a Line Item
What are your actions? And what is the narrative you are telling LPs around your actions and processes? Why that story, and no other story? What are implicit assumptions that have to be true so that this story is true? What ethos are you implying, or even requiring, that is reflected in that action a … Continue reading Actions + Stories = Who You Are
This is the last post on this topic, but there were some more questions. It takes about 6 Months to Reach First Close This chart is showing the median per vintage year, together with the 1st and 3rd quartile boundaries and a green average line (with a horrible R-Squared of 0.0087). In a first close, … Continue reading VC Funds: Six months to first close on 40-60% of final close size.
