The Perception of LPs of SaaS Funds

3min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The top LPs had average 90% IRR last year. That's after paying fees to VCs. After paying them 20 to 30% of the gains, the top endowments across their cohort of managers had 90%. It's insane. And if you read some of these endowment reports, these very conservative endowments, they kind of thought it was going to last. As did many of us, right? And they got used to it. And so LPs are digging out of way too much commitment to existing managers and a radically different position for their portfolio. I think this is probably the worst time to get institutional money, institutional money in my career from LPs right

Jason and Molly chat with Jason Lemkin of SaaStr (01:44). They discuss: advice for new VCs (16:14), the future of SaaS investing (27:37), playing offense as investors (35:50), secondaries and more.

(00:00) Jason and Molly tee up today’s interview show
(01:44) Jason and Molly speak with Jason Lemkin of SaaStr
(14:59) Notion - Get started for free at https://notion.com/thisweekinstartups
(16:14) Jason Lemkin’s advice for new fund managers
(26:16) Microacquire - Sell your business with no fees at https://try.microacquire.com/twist
(27:37) Will SaaS investments continue to be good?
(32:44) What makes Notion so good?
(34:44) AdQuick - Visit https://adquick.com/twist and mention TWIST to get $1000 off your first campaign.
(35:50) What does it mean to play offense? Why should you be playing offense now if you have the runway?
(39:35) Jason Lemkin’s predictions for the next year & advice for capital allocators/investors
(52:25) Are founder secondary sales a red flag?
(1:01:20) Strategies for investors in a down market

FOLLOW Jason Lemkin: https://twitter.com/jasonlk
FOLLOW Jason: https://linktr.ee/calacanis
FOLLOW Molly: https://twitter.com/mollywood