Introduction

Eric is co-founder and CEO of Revere, where he leads product development and investment analysis & due diligence efforts. Prior to starting Revere, he was Head of Institutional Capital at AngelList, the world's largest online venture capital investment platform that supports over $10B in assets and has participated in the financing of over 190 "unicorn" companies. At AngelList, Eric worked closely with investors to curate early-stage fund and deal opportunities. He also developed systematic and data-driven strategies for institutional investors. Over the last 12 years, Eric has helped allocate over $160 million in venture funds and direct co-investments. Notably, he played a key role in establishing the emerging manager investment programs at Top Tier Capital and Northgate Capital, organizations that collectively have more than $15B in AUM. Eric is an acknowledged thought leader in the VC emerging managers ecosystem. Before his venture career, Eric worked in pricing and risk management for a large insurance company and financial guarantor. He also has experience in online marketing and private market research. A Bay Area native, Eric graduated with a B.S. degree in Mechanical Engineering from UC Berkeley and has been a CFA charter holder since 2004. You can find Eric on his socials here: Twitter: https://twitter.com/ericjwoo LinkedIn: https://www.linkedin.com/in/ericwoo/ And huge thanks to this episode's sponsor, Alchemist Accelerator: https://alchemistaccelerator.com/superclusters OUTLINE: [00:00] Intro [03:30] How did Eric pivot from being an engineer to an asset manager? [09:52] Building emerging manager programs at Top Tier and Northgate [15:25] How does Eric define conviction? [17:23] What was the thesis that Eric raised his fund of funds on? [20:00] How much does an established fund's portfolio is allocated to emerging managers? [23:48] How did Eric pitch institutional LPs to join AngelList? [32:48] How does Eric measure the ROI on hosting events? [36:24] How does Eric pitch Revere to my relatives? [39:29] How does Revere rate emerging managers? [47:49] What are telltale signs of a fund's outperformance? [51:36] The value of community [58:10] What are subconscious decisions LPs make that deserve a double take? [1:02:09] Why strategy drift is not a bad thing [1:04:57] What VC firm turned identity into culture? [1:07:39] What is Eric's nighttime routine? [1:09:50] Angel investing is to tipping as LP investing is to ____ [1:13:45] What is one thing Eric recommends GPs do but no one ever listens? [1:15:18] What is an investment opportunity Eric missed because of what he didn't do rather than what he did? [1:18:21] Thank you to Alchemist Accelerator for sponsoring! [1:20:58] Legal disclaimer Follow David Zhou for more Superclusters content: For podcast show notes: https://superclusters.co Follow David Zhou's blog: https://cupofzhou.com Follow Superclusters on Twitter: https://twitter.com/SuperclustersLP Follow Superclusters on Instagram: https://instagram.com/super.clusters