Investing in a Venture Fund

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Last year we distributed over six billion dollars, which was more than all the venture we raised in our first five funds. The most important thing is tell your partners what you're going to do and then do it. Because you're making a deal up front. For me, if you're an investor or limited partner in our fund and you want to hold on to it, then also invest my hedge fund. But that is a different liquidity.

This conversation was recorded LIVE at the All-In Summit in Miami and included slides. To watch on YouTube, check out our All-In Summit playlist: https://bit.ly/aisytplaylist

0:00 Bill Gurley & Brad Gerstner break down the state and historical significance of 2022's market downturn

12:27 How VCs will handle capital commitments from LPs, underwriting startups in the new reality

24:14 Bull run mistakes, why VCs don't underwrite lower valuations, handling distributions

33:52 Gurley's take on WeCrashed & Super Pumped TV series, how sophisticated investors got "gaslit" by the market, influx of capital creating consumer-surplus businesses

47:54 Brad predicts the market for next year, Bill gives post-Benchmark plans

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