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How I Invest with David Weisburd
E28: Roland Reynold, Industry Ventures on Investing $7 Billion into Startups & Venture Funds
Dec 14, 2023
Roland Reynolds, Senior Managing Director at Industry Ventures, discusses investing $7 billion into startups and venture capital funds. They explore investing in emerging managers and using secondaries to drive alpha. They also talk about addressing risk and duration in early stage venture investments, portfolio construction, flexible investing, and gratitude for the venture capital ecosystem.
45:14
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Quick takeaways
- Allocating a significant portion of capital to primary commitments with emerging managers establishes authentic relationships and serves as the foundation for finding transformational direct investments and early secondaries.
- Industry Ventures' portfolio construction approach allocates 40% of capital to primary commitments, 20% to early secondaries, and 40% to direct investments, providing a diverse set of opportunities and aiming to mitigate heavy losses in seed-stage companies while generating high return potential.
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Key Focus on Primary Commitments
The podcast episode discusses the importance of allocating a significant portion of capital to primary commitments with emerging managers. This is seen as a core focus for industry ventures, as it establishes authentic relationships and serves as the foundation for finding transformational direct investments and early secondaries.
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