The Adventures of an LP Whisperer | Eric Woo | Superclusters | S1E3

Nov 20, 2023

Eric Woo, co-founder and CEO of Revere, shares his insights on emotions, career transitions, storytelling, fundraising, engaging with LPs, measuring performance metrics, and achieving clarity of thought through data triangulation.

Ask episode

Chapters

Transcript

Episode notes

Introduction

00:00 • 2min

Exploring Emotions and Career Transitions: From Engineer to LP

02:18 • 4min

Understanding Comparative Literature and its Relation to Storytelling and Fundraising

06:27 • 2min

Building Conviction in Fundraising

08:47 • 23min

Engaging with LPs and Creating a Market for Scalability

31:37 • 15min

Measuring Performance Metrics in Evaluating Funds

46:25 • 19min

Triangulating Information for Clarity of Thought

01:05:49 • 9min

Wrapping Up with Eric and Alchemist Accelerator Sponsor Ad

01:15:11 • 5min

Eric is co-founder and CEO of Revere, where he leads product development and investment analysis & due diligence efforts. Prior to starting Revere, he was Head of Institutional Capital at AngelList, the world's largest online venture capital investment platform that supports over $10B in assets and has participated in the financing of over 190 "unicorn" companies. At AngelList, Eric worked closely with investors to curate early-stage fund and deal opportunities. He also developed systematic and data-driven strategies for institutional investors. Over the last 12 years, Eric has helped allocate over $160 million in venture funds and direct co-investments. Notably, he played a key role in establishing the emerging manager investment programs at Top Tier Capital and Northgate Capital, organizations that collectively have more than $15B in AUM. Eric is an acknowledged thought leader in the VC emerging managers ecosystem. Before his venture career, Eric worked in pricing and risk management for a large insurance company and financial guarantor. He also has experience in online marketing and private market research. A Bay Area native, Eric graduated with a B.S. degree in Mechanical Engineering from UC Berkeley and has been a CFA charter holder since 2004. You can find Eric on his socials here: Twitter: https://twitter.com/ericjwoo LinkedIn: https://www.linkedin.com/in/ericwoo/ And huge thanks to this episode's sponsor, Alchemist Accelerator: https://alchemistaccelerator.com/superclusters OUTLINE: [00:00] Intro [03:30] How did Eric pivot from being an engineer to an asset manager? [09:52] Building emerging manager programs at Top Tier and Northgate [15:25] How does Eric define conviction? [17:23] What was the thesis that Eric raised his fund of funds on? [20:00] How much does an established fund's portfolio is allocated to emerging managers? [23:48] How did Eric pitch institutional LPs to join AngelList? [32:48] How does Eric measure the ROI on hosting events? [36:24] How does Eric pitch Revere to my relatives? [39:29] How does Revere rate emerging managers? [47:49] What are telltale signs of a fund's outperformance? [51:36] The value of community [58:10] What are subconscious decisions LPs make that deserve a double take? [1:02:09] Why strategy drift is not a bad thing [1:04:57] What VC firm turned identity into culture? [1:07:39] What is Eric's nighttime routine? [1:09:50] Angel investing is to tipping as LP investing is to ____ [1:13:45] What is one thing Eric recommends GPs do but no one ever listens? [1:15:18] What is an investment opportunity Eric missed because of what he didn't do rather than what he did? [1:18:21] Thank you to Alchemist Accelerator for sponsoring! [1:20:58] Legal disclaimer Follow David Zhou for more Superclusters content: For podcast show notes: https://superclusters.co Follow David Zhou's blog: https://cupofzhou.com Follow Superclusters on Twitter: https://twitter.com/SuperclustersLP Follow Superclusters on Instagram: https://instagram.com/super.clusters