Origins - Inside Venture Capital, Hosted by a GP and an LP Minisode: Franchise Funds: Grading Performance
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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.
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LP Perspective on Franchise Funds
- Franchise funds focus on fundraising challenges from an LP perspective.
- They emphasize the importance of LP experience, communication, and building for the long term.
Communicating with LPs
- Communicate changes to your LPs in a timely manner, especially regarding senior team members.
- Ensure transparency and avoid surprises to maintain trust and partnership.
Building a Franchise Fund
- Build a franchise fund intentionally, considering succession and legacy from the start.
- Create a performance culture and establish clear pathways for growth and agency.