Venture Unlocked: The playbook for venture capital managers
Venture Unlocked Shorts: Why VC has gone mainstream and the parallels to private equity and hedge funds
Jan 26, 2024
Venture capital has gone mainstream and shows parallels to private equity and hedge funds. The podcast explores the growth and fragmentation of the VC industry, the demonization of larger funds, LPs' perspective on emerging managers, and the future of venture capital.
19:05
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Quick takeaways
- The evolution of venture capital parallels the growth and maturation of private equity and hedge funds, making it harder to generate high returns and emphasizing the need for specialization and expertise.
- Venture capital has become fragmented with a range of players, from mega-cap firms to niche players and seed funds, mirroring the private equity market. Larger firms target stability and global presence, while emerging manager funds offer higher potential alpha with specialization and smaller fund size.
Deep dives
Venture Capital Going Mainstream
Venture capital is evolving into a mainstream asset class, attracting more awareness and interest from various types of investors. This growth is similar to the maturation of private equity and hedge funds. As venture firms scale and diversify, it becomes increasingly challenging to differentiate and generate alpha. Factors that used to set firms apart, such as portfolio services and founder-friendly approaches, are now standard across the industry. This trend makes it harder to achieve higher returns and underscores the need for specialization and expertise in specific sectors or geographies.
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