How I Invest with David Weisburd
E52: StepStone's Hunter Somerville on How to Scale LP Capital
Mar 21, 2024
The podcast delves into StepStone's unique approach to venture capital, their transition to leading deals, and their full life cycle investing. They discuss accessing companies in the secondary market, identifying potential in emerging managers, and StepStone's value-add to funds and companies. The conversation also explores the qualities and mindset essential for success in business, emphasizing dedication, relationship-building, and adding value to portfolio companies.
26:10
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Quick takeaways
- StepStone emphasizes direct fund investing and partnerships with founders for fund performance evaluation.
- Competing with big names requires collaborative strategies and offering value beyond funding.
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Investing Strategy and Partnerships
Direct investing involves board observation and working closely with GPs to evaluate fund performance, emphasizing partnerships with founders, assistance in recruitment, and customer introductions. Private equity trends in 2024 focus on consolidating companies to reach $200 million in revenue, with multi-stage funds expanding to cover earlier and later stages.
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