Building Successful Relationships Between Family Offices and Emerging Managers with Benedikt Langer

Matt Cohen sits down with Benedikt Langer, the thought leader behind the newsletter Embracing Emergence, to explore the world of emerging managers and their relationships with family offices and other Limited Partners (Limited Partners). Benedikt shares his journey of growing up in Germany to becoming an influential voice in the LP and Emerging Manager space, providing insights on why family offices and LPs should give more attention to emerging managers.

About Benedikt Langer:

Benedikt Langer is currently the Founder of Embracing Emergence, a platform dedicated to fostering collaboration and understanding between Limited Partners (LPs) and Emerging Managers (EMs). Through this initiative, he has created a space where both sides can exchange insights, build relationships, and engage in meaningful conversations to solve inefficiencies in the LP-GP process. In addition to running Embracing Emergence, Benedikt partners with select emerging managers, helping them craft their stories and strategies while guiding them in building strong connections with LPs.

Before launching Embracing Emergence in 2024, Benedikt founded The Associates Network, an exclusive community for over 225 Venture Capital associates and analysts worldwide. Through this network, he facilitated deal flow, educational events, and personal introductions, significantly enhancing collaboration within the global VC ecosystem. Concurrently, he worked as an Associate at The Sutton Firm, a single-family office where he helped shape the firm’s strategies in venture capital, real estate, and small business acquisition.

Earlier in his career, Benedikt gained a broad range of experiences, including a role as Senior Treasury Analyst at Vistra Corp. and advisory work with the Port Royal Society. His diverse background, combined with his passion for transparency and thought leadership in the family office space, has made him a sought-after partner in both the LP and EM communities.

In this episode, we discuss:

* (01:23) – Benedikt shares his background, growing up in Germany, and his journey into the venture world through a family office in Dallas

* (05:18) – The story of how Benedikt met his wife during a 500-mile pilgrimage

* (07:06) – The role of emerging managers in the venture ecosystem and common misconceptions held by LPs

* (10:11) – How LPs can better underwrite emerging managers and the importance of storytelling in pitching to LPs

* (12:31) – The concept of “LP-GP fit” and embracing complexity in relationships with emerging managers

* (14:28) – The importance of understanding professional and personal dimensions in emerging managers

* (20:00) – The value of direct communication and trust in LP-emerging manager relationships

* (23:50) – The role of fund of funds in mitigating risk and providing access to top-performing GPs

* (29:10) – How to effectively pitch to family offices and align with their values

* (34:00) – Reverse due diligence: what emerging managers should learn about family offices before pitching

* (36:00) – Differences between pitching founders and pitching family offices

* (39:40) – Benedikt’s vision for Embracing Emergence and fostering better relationships between LPs and emerging managers

Fast Favorites

* Favorite Podcast: Pints with Aquinas – If you could grab a beer with Thomas Aquinas, what would you talk about?

* Favorite Newsletter or Blog: The Abbey of Misrule – A blog about mysticism and wonder.

* Favorite Tech Gadget: AirPods – Essential for phone calls.

* Favorite New Trend: Marketing shifting from attention-based to thoughtfulness-based approaches.

* Favorite Book: Pensées by Blaise Pascal.

* Favorite Life Lesson: "Always do the uncomfortable things first in life" – Advice from his father.

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