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Origins - Inside Venture Capital, Hosted by a GP and an LP
Minisode: Franchise Funds: Grading Performance
Jan 22, 2025
Laura Thompson, a Partner at Sapphire Partners and co-founder of OpenLP, shares her venture capital expertise during a lively discussion with host Beezer Clarkson. They delve into Jessica Archibald's analytical methods for defining franchise success, emphasizing the unique challenges of succession planning. The duo explores the art of delivering both good and bad news to foster a performance culture. They also consider Archibald’s unconventional grading system for funds and its potential adoption at Sapphire Partners, prompting a broader conversation on effective fund evaluation.
22:36
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Quick takeaways
- Jessica Archibald emphasizes the importance of consistent performance metrics in establishing a successful franchise fund, ensuring ongoing investor confidence.
- Effective communication between GPs and LPs is essential during transitions to maintain trust and transparency within fund operations.
Deep dives
Diverging Perspectives on Franchise Funds
The discussion highlights contrasting viewpoints from two LPs on the characteristics of franchise funds. Jessica Archibald emphasizes that successful franchise funds face little difficulty in fundraising, reflecting an LP's perspective on the importance of being on favorable cap tables and achieving positive returns. In contrast, Stephen's insights focus on the intrinsic qualities of a franchise fund, such as establishing a solid operational foundation that allows for expansion and consistency. This interplay between fundraising challenges and operational excellence offers a nuanced understanding of what constitutes a successful franchise fund.
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