E46: Atul Rustgi of Accolade on What is LP Value-Add and Can it Lead to Alpha?

Atul Rustgi sits down with David Weisburd to discuss his role as a GP & LP, the paradoxes of selling and building relationships in VC, and the strategy of focusing on funds under $100 million. They also delve into including biotech as a diversification strategy, the importance of blockchain and crypto exposure, family office investments, and the challenges and rewards of raising a fund during a market downturn. (0:00) Introduction and Atul Rustgi's journey as an LP (1:50) Venture investing and building LP relationships (3:48) Accolade's product-market fit and industry evolution (7:32) Fund strategy, ownership, and portfolio impact (11:47) The dynamics of LP-GP relationships and value-add services (15:29) The passion for venture capital from an LP perspective (16:01) Sponsor: Deal (17:14) Investment vehicles and blockchain exposure (20:10) The art of partnership and reference calls in LP selection (22:16) Factors in anchor checks and re-upping decisions (24:35) Market timing and valuation impacts on funds (26:17) Sponsor: Carrier Labs (26:39) Mentorship and unique strategies at Accolade (28:22) Strategic considerations of fund size