The Peel with Turner Novak How To Generate Alpha in Venture Capital | Albert Azout, Level Ventures
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Sep 4, 2025 
Albert Azout, Co-founder and Managing Partner of Level Ventures, dives into the challenges of venture investing. He shares insights on how to generate alpha, emphasizing the significance of networking and criticality investing. The discussion also highlights the role of capital flows and the importance of early consensus in maximizing returns. Azout showcases custom software built for analyzing networking dynamics, shedding light on how technology influences investment decisions. This engaging conversation is a treasure trove for aspiring venture capitalists!
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Three Pillars Of VC Alpha
- Alpha in VC comes from networks, knowledge, and fund size as core pillars.
- These interact with sub-edges like brand, analytical edge, information advantage, and speed.
Use Speed To Prevent Auctions
- Move quickly when you have conviction to avoid auctions and lock attractive price.
- Build processes for fast analysis and execution to capture temporal advantages.
Match Fund Size To Ownership Math
- Size your fund against expected hit rates and entry ownership after dilution.
- Smaller funds keep upfront ownership and higher convexity, so prefer smaller unless you can secure large entry stakes at scale.