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"Turpentine VC" | Venture Capital and Investing
E24: Building a Multi-Billion-Dollar Asset Management Firm with CoVenture's Ali Hamed
Jan 30, 2024
The podcast discusses the advantages of investing across asset classes, CoVenture's inflection points, and the importance of being liked in venture. It explores the flaws in credit and venture capital investing, the unique approach of using a venture mindset in credit, and the benefits of investing in companies in different ways. The podcast also explores the possibility of expanding into multiple asset classes, addressing the housing crisis, and investing in the cryptocurrency asset class. It touches on the relationship between returns, multiples, and capital in asset management, and discusses whether venture firms will evolve into asset management firms.
59:13
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Quick takeaways
- CoVenture's success lies in their ability to adapt to different asset classes and their emphasis on underwriting companies in venture capital as well as credit.
- CoVenture stands out by combining their venture mindset with credit strategies and maintaining a unique point of view and approach in the industry.
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CoVenture's Strategy and Inflection Points
CoVenture is an alternative asset manager specializing in venture, specialty lending, and crypto. They have three main strategies: early-stage venture capital investing, asset-backed credit business, and a hybrid business that provides capital to mature companies. CoVenture's inflection points include starting with a software-for-equity service, which led to investing in a credit business and gaining credibility. They later raised a venture capital fund and found success by being open to different asset classes. In their hybrid business, they focus on short-duration investments, structured returns instead of valuation, and companies that are already profitable. CoVenture's approach emphasizes going slow and adapting to the market's uncertainty.
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