In this episode of The Distribution, host Brandon Sedloff sits down with Katie Riester, Managing Director at Felicis Ventures, for a wide-ranging conversation about the evolution of venture capital and the lessons she’s learned across her career on both the LP and GP sides. Katie reflects on her path from early experiences at Vanguard and Cambridge Associates to her current role helping shape one of the industry’s most adaptable early-stage firms. She shares insights on how Felicis identifies opportunities across emerging tech waves, what makes a successful founder, and why listening and authenticity remain critical in the world of investing.

They discuss: • Katie’s journey from institutional investor to leading capital formation at Felicis Ventures • The changing dynamics between LPs, GPs, and founders in venture capital • How Felicis adapts to new technology cycles while maintaining its core principles • What it means to be an “AI native” founder and why it matters in today’s landscape • The importance of communication, curiosity, and relationship-building in fundraising

Links:

Felicis Ventures - https://www.felicis.com/

Katie on LinkedIn - https://www.linkedin.com/in/katie-riester-91793b8/

Brandon on LinkedIn - ⁠https://www.linkedin.com/in/bsedloff/⁠

Juniper Square - ⁠https://www.junipersquare.com/⁠

Topics:

(00:00:00) - Intro
(00:02:45) - Katie's early life and career beginnings
(00:20:43) - The evolution of venture capital
(00:30:15) - Adapting to tech waves
(00:34:33) - Importance of diversification
(00:40:04) - Felicis Ventures
(00:47:32) - Traits of successful founders
(00:52:10) - Current and future tech waves
(00:59:17) - Conclusion and contact information

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