Superclusters - The Emerging LP Podcast

Uncompensated Risks in VC | Wendy Li | Superclusters | S5E12

Jul 21, 2025
Wendy Li, Co-founder and Chief Investment Officer at Ivy Invest, shares her journey from building a $4 billion portfolio at the Mother Cabrini Health Foundation to creating an accessible investment platform for everyday investors. She discusses the critical distinction between probability and consequence in venture capital, cautioning against common mistakes made by LPs. Wendy also highlights the innovative ‘endowment in a box’ concept, which democratizes investing, and reflects on the importance of mentorship and emotional control in investment decision-making.
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ANECDOTE

Wendy's Family Columbia Story

  • Wendy Li shared her father's experience applying to Columbia but not attending due to insufficient financial aid.
  • She reflects on the rich family history and the value of parents sharing their stories as they age.
ANECDOTE

Choosing The Met for Uniqueness

  • Wendy chose to work at the Metropolitan Museum of Art endowment despite other high-profile options because the role was unique and generalist.
  • She valued the female-led investment team and the personalized mentorship she received from Lauren.
ADVICE

Avoid Rush Into Hard-to-Access Managers

  • Avoid investing in managers with real or forced urgency whose diligence feels incomplete.
  • Remember, there's always another opportunity, so don't rush into risky, poorly vetted investments.
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