E76: How FirstLook Picks the Top 10% of Venture Funds

Josh Porter, Co-Founder & General Partner at FirstLook Partners, sits down with David Weisburd to discuss FirstLook’s process for evaluating and selecting emerging managers. They also cover typical terms for co-invest, managing conflicts of interest, and the importance of strong personal relationships in venture capital. (0:00) Importance of communication with LPs and First Look strategy (1:13) Ideal co-investment deal dynamics and proactive process (4:33) LP base profile and addressing conflicts of interest (6:24) Josh Porter's background and investing philosophy (10:15) Trust and competence in GP/LP relationships (12:15) Trust and reference checks in the emerging manager space (14:27) Diligence process and measuring commitment (19:01) Value provision to non-funded managers (20:18) Team expansion and desired qualities (21:34) Key learnings and balancing fundraising with investing (22:23) Importance of LP relationships and closing thoughts (23:36) Call to action and subscription reminder