
Venture Unlocked: The playbook for venture capital managers
Tomasz Tunguz of Theory Ventures on strategically raising a fund in a downturn, Why Firms Need a Business Model, and different views on portfolio construction
Jul 26, 2023
45:32
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Quick takeaways
- The importance of thinking about the business model of a venture firm and being disciplined in the current environment
- The need for venture firms to adapt to evolving dynamics and liquidity options like crypto, and the potential for consolidation in the industry
Deep dives
Venture Unlock: Behind the Scenes of Venture Capital
In this episode of Venture Unlock, Tamash Tungus, founder of Theory Ventures, discusses portfolio construction theory, business models in venture capital, and strategic approaches to raising a VC fund. He highlights the importance of thinking about the business model of a venture firm, especially in the current environment where venture capital firms and startups need to be more disciplined. Tamash emphasizes the use of math and analysis to build a high-multiple fund and optimize returns. He also explores the challenges and objections faced during the fundraise as a solo GP, as well as the considerations for bet sizing and qualitative assessment when making investments.
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