VC10X - Investing, Venture Capital, Asset Management, Private Equity, Family Office VC10X - $330 Million Fund Without A 10 Year Cap - Jim Curry, Co-founder, BuildGroup
In this episode, we sit down with Jim Curry from BuildGroup to discuss why the traditional venture capital model might be failing founders. Jim is rewriting the rules of investment with a $330 million fund backed exclusively by family offices, operating without the traditional 10-year cap. This unique "Patient Capital" structure allows BuildGroup to align with founders for the long haul, prioritizing durable growth over short-term exits.
We dive deep into Jim’s background as an operator who helped scale Rackspace to $2 billion in revenue with only $25 million in funding, proving that you don't need to burn cash to build a giant. We also discuss the dangers of the "fundraising treadmill," why we are currently in a bubble era, and his contrarian take on why the future of AI lies in "Small Language Models," not just the giants.
⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com
In this episode, you’ll learn:
- The Broken VC Model: Why the 10-year fund cycle creates misaligned incentives between investors and founders.
- The Rackspace Story: How to scale to billions in revenue with extreme capital efficiency.
- Patient Capital Explained: Inside BuildGroup’s $330M evergreen fund structure.
- The Fundraising Treadmill: How to avoid the trap of raising too much, too fast.
- The AI Bubble: Why Jim believes "Small Language Models" (SLMs) are the real opportunity for B2B businesses.
- Founder Advice: The one trait Jim looks for: being a "customer of your own problem."
🔗 Connect with Jim & BuildGroup:
Website: https://buildgroup.com
Email: jim@buildgroup.com
LinkedIn: https://www.linkedin.com/in/jimncurry/
🔗 VC10X Links:
Prashant Choubey - https://www.linkedin.com/in/choubeysahab
Subscribe to VC10X newsletter - https://vc10x.beehiiv.com
Subscribe on YouTube - https://youtube.com/@VC10X
Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986
Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQ
VC10X website - https://vc10x.com
For sponsorship queries reach out to prashantchoubey3@gmail.comTimestamps:
(00:00) - Introduction to Build Group's $330M Fund and Patient Capital Model
(00:37) - Meet Jim Curry, Co-founder of Build Group
(01:58) - How Experiences at Rackspace Inspired the Operator-First Model
(03:25) - The Problem with Arbitrary 10-Year VC Fund Cycles
(05:48) - The Unique Structure of Build Group's Fund
(08:21) - Why Build Group Prefers to Be the Only Investor on the Cap Table
(11:47) - The Challenge of Helping Companies Get Off the VC "Treadmill"
(16:00) - Deployment Period and How the Investment Thesis Evolves
(18:24) - Build Group's Diligence Process vs. a Typical VC
(23:08) - Competing with Over-Capitalized Startups
(25:17) - Lessons from Building the OpenStack Community
(27:48) - Key Qualities Looked for in a Founding Team
(30:55) - Harmful VC Trend: Forgetting the Lean Startup Mentality
(33:18) - Why Downturns are an Opportunity for Patient Capital
(35:56) - The Importance of Founders Who Genuinely Love Their Product
(37:55) - The Next Foundational Tech Opportunities in AI Orchestration
(40:29) - Rapid Fire Round
(41:50) - Conclusion
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