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Is 60 % Graduation Too High?
I worry more about our conversion rate being too high than too low. I sometimes wonder, and i've talked to a few people that i consider mentors in the business, i've taught them as a k given or riskpo is 60%. Is that evidence that maybe we're not taking enough risk, either on people or markets, or both? Mostly because the way i've modelled out our we haven't really dove deep in portfolio construction. But i can tell you all what i've pitched our el pies is we're going to make 75 or so investments per fund. And my expectation is the top four companies will do at least two x is a group. That means two x on the