E60: Emerging Manager Alpha At Scale with Michael Downing

Michael Downing sits down with David Weisburd to discuss emerging manager venture funds, the MDSV Capital Extension Program, and the effect of market conditions on fundraising. They also discuss the role of MDSV in the venture capital landscape, portfolio construction, LP expectations, and Michael’s background as an entrepreneur and investor. The conversation wraps up with a discussion on the importance of not overlooking emerging managers as a key part of the venture ecosystem. (0:00) Defining outliers in emerging manager funds (0:26) Challenges and portfolio construction for institutional investors (1:32) Capital extension program introduction and mechanics (3:21) Parameters and limits for capital extension (6:00) Demand and pool size for the capital extension program (7:25) Continuation challenges for emerging managers (9:45) Sponsor: Deal, HR and payroll platform (10:23) Team composition and opportunity submission at MDSV Capital (13:13) Fundraising landscape for emerging managers (16:29) Support and investment thesis at MDSV Capital (19:22) LP mix, investment methodology, and institutional challenges (23:21) Michael Downing's transition to capital management (26:01) Venture decentralization and MDSB Capital's outreach (27:23) Closing remarks and additional resources