E38: Carrie Thome & Grady Buchanan of NVNG on How to Raise Capital from Corporate LPs

Grady Buchanan and Carrie Thome join David Weisburd to discuss their perspectives on venture capital and strategic investment, drawing from Carrie's 18 years at WARF. They explore the unique model of WARF, the transition from hedge funds to venture capital, and the challenges of managing liquidity. The conversation delves into the all-weather investing approach, founding NVNG, and raising a fund during the COVID-19 pandemic. They also highlight the importance of diversification, the role of mentorship, and insights into building a coalition of investors and assessing emerging managers.

Carrie Thome and Grady Buchanan of NVNG sit down with David capital to talk about the importance of startups, and portfolio construction. They discuss the competitive landscape for talent, their transition to venture capital, and strategies at Wharf. The conversation also covers strategic investment, liquidity management, and the inception and building of NVNG Investment Partners. The episode wraps up with insights on raising a fund during COVID, network building, assessing emerging manager quality, and the value of fund of funds.

(0:00) Overview of recent fundraising success and portfolio strategy (1:00) Introduction to Carrie Thome and Grady Buchanan (2:01) WARF's unique model and financial independence (3:59) Lessons learned from 18 years at WARF and mentorship (8:02) CIO role limitations and talent competition (10:56) Attraction to LP role and transition from hedge funds to VC (15:05) Strategic investment and venture portfolio evolution (19:49) Managing liquidity and deployment in venture capital (23:06) All-weather investing approach and diversification (25:32) Founding NVNG and raising a fund during COVID (29:33) Building a coalition of investors and assessing emerging managers (35:00) Importance of diversification and fund of funds insights (35:42) Sponsor: Carrier Labs