How Nomad's Thinking Has Changed in Manager Selection with Jordan Nel of Hummingbird Ventures

Dec 6, 2023

Jordan Nel from Hummingbird Ventures discusses identifying outlier venture funds, shifting from winning to picking, signal in track records, changing the venture landscape, competitive edge in venture investing, scaling VC funds, effective communication and brand strategy, opportunities in deep tech, and advice for LPs and fund managers.

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Introduction

00:00 • 2min

Characteristics of Exceptional Founders

01:40 • 18min

Changes in Manager Selection and Challenges in Onboarding Investors

19:14 • 3min

Benefits of Investment Vehicles and Importance of Communication in Manager Selection

21:55 • 2min

LPs and Fund Expenses: Choosing Between Cost and Experience

23:49 • 4min

Scaling Funds, Investing in Deep Tech, and Advice for LPs and Fund Managers

27:39 • 4min

Highlights from this week’s conversation include:

The background for Hummingbird and Nomad (1:10)
How to identify outlier venture funds (3:30)
The shift from winning to picking (6:16)
The signal in the track record (9:08)
Changing the venture landscape (12:26)
Competitive edge in venture investing (14:46)
Limited Partner expectations for reupping (17:56)
Scaling VC Funds and Staying Generalist (18:59)
Effective Communication and Brand Strategy (22:21)
The argument against most fund of funds (26:08)
Opportunities in deep tech (28:30)
Advice for fellow LPs and fund managers (31:26)

Hummingbird Ventures is a global generalist seed investment fund, investing in outlier founders at the earliest stage of their journey. With a mission to identify and support innovative entrepreneurs, Hummingbird Ventures has established itself as a key player in the venture capital landscape. The firm is known for its strategic approach to investing, providing not only capital but also valuable expertise and guidance to help startups navigate the challenges of growth and development. Hummingbird Ventures has a diverse portfolio across various sectors and geographies, contributing to the advancement of groundbreaking ideas and technologies in the ever-evolving startup ecosystem.

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Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. Follow along and subscribe at swimmingwithallocators.com.