E22: Phin Barnes on Unbundling VC
"Turpentine VC" | Venture Capital and Investing
Portfolio Construction and Business Model Innovation
Exploring the speakers' approach to portfolio construction and their motivation behind business model innovation, including analyzing another venture capital firm's portfolio, successful and challenging engagements, and maximizing opportunities.
In this episode of Turpentine VC, Phin Barnes, co-founder of The General Partnership, joins Erik Torenberg to discuss Phin’s idea of building a YC for emerging fund managers, the sweat equity model, and building the General Partnership. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine
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RELATED SHOWS: The Limited Partner
If you like Turpentine VC, check out our show The Limited Partner with David Weisburd, where David talks to the investors behind the investors: https://link.chtbl.com/thelimitedpartner
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X / TWITTER:
@phineasb (Phin)
@theGP (The General Partnership)
@eriktorenberg (Erik)
@TurpentineVC
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TIMESTAMPS:
(00:16) Episode Preview
(01:16) The Journey of Starting a Venture Firm
(05:49) Exploring Different Business Models in Venture Capital
(08:56) Building a YC for Emerging Managers
(12:53) The Evolution of Sweat Equity Ventures
(20:00) The Sweat Equity Model
(24:24) The General Partnership’s Product Offering
(26:53) Sponsor - Netsuite and Shopify
(29:30) Fund Sizing
(35:49) Unbundling of Venture Capital
(45:04) Advantages of Service for Equity
(49:06) The GP’s Services Pricing
(50:38) Incubation
(54:02) The Importance of Talent Networks
(01:07) Advice for Starting a Fund Right Now
(01:14) Talent Networks
(01:19) The GP’s LPs
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