How to Get Six Top Quartile Fund of Funds in a Row | Aram Verdiyan | Superclusters | S2E7

Apr 22, 2024

Aram Verdiyan, Partner at Accolade, shares insights on fund of funds, concentrated portfolio construction, and evaluating fund managers. He discusses the importance of track records beyond just numerical data, consistent check sizes, and the strategy for maximizing returns in venture capital. The podcast also explores overcoming imposter syndrome, seizing opportunities, and the relationship between Superclusters and Alchemist Accelerator.

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Introduction

00:00 • 2min

Reflections on 'Distance Traveled' and Personal Growth

01:50 • 2min

Overcoming Imposter Syndrome and Analyzing Fund Managers

03:55 • 10min

Maximizing Returns through Concentrated Portfolio Construction in Venture Capital

13:49 • 16min

Optimizing Capital Deployment in Venture Capital

29:50 • 5min

Maintaining Conviction in Fund Management

34:25 • 14min

Luck, Timing, and Seizing Opportunities

48:29 • 9min

Exploring the Relationship Between Superclusters and Alchemist Accelerator

57:03 • 4min

Aram Verdiyan is a Partner at Accolade. Previously, he worked on the investment team at Andreessen Horowitz. Before that, Aram worked in BD, sales and marketing at Aviatrix, a cloud native enterprise software company. Aram worked at Accolade from 2012 to 2015 as a Senior Investment Associate and at Deloitte Consulting LLP. He holds an M.B.A from the Stanford Graduate School of Business (GSB) and a B.S. from the George Washington University. You can find Aram on his socials here: Twitter: https://twitter.com/aramverdi LinkedIn: https://www.linkedin.com/in/aram-verdiyan-8099186/ And huge thanks to this episode's sponsor, Alchemist Accelerator: https://alchemistaccelerator.com/superclusters

OUTLINE:

[00:00] Intro

[02:36] How did Pejman Nozad influence the way Aram thinks about people

[04:06] Aram's 'distance traveled'

[05:45] What did imposter syndrome look like in Aram's life?

[06:36] How Aram cold emailed his way into Accolade Partners

[09:03] The first case study Aram did at Accolade

[10:10] When track record is NOT just TVPI, DPI, or IRR

[15:05] The case for concentrated fund of funds' portfolio construction

[22:42] Telltale signs of "great" deal flow

[26:32] When does due diligence start for prospective funds for Accolade?

[27:50] Primary sources of data for Accolade

[29:00] The variables that impact fund of funds' team size

[30:24] How many fund investments should each individual FoF partner have?

[35:13] The case for consistent check sizes

[36:20] The common mistake GPs make when it comes to LP concentration limits

[41:27] How Accolade started investing in blockchain funds

[44:52] Blockchain engineering talent as a function of bear markets

[47:15] Time horizons for blockchain funds

[50:38] Luck vs skill

[53:41] Aram's early fundraising days at Accolade

[57:38] Thank you to Alchemist Accelerator for sponsoring!

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