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How I Invest with David Weisburd
E68: The Smithsonian Institution’s Venture Capital Edge
May 21, 2024
Jeff Smith, Managing Director of Private Investments at the Smithsonian’s endowment, discusses the Smithsonian's advantage in venture capital. They talk about capital allocation, exit strategies, evaluating new venture managers, and the importance of communicating effectively with LPs.
23:38
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Quick takeaways
- Smithsonian's reputation facilitates access to top venture funds, aligns with innovation-driven ethos.
- Importance of caution, market timing, diversified assets, and effective GP relationships in venture investments.
Deep dives
Venture Capital Focus for Highest Returns
Investing more in venture capital is centered on achieving the highest returns within the endowment portfolio. The speaker emphasizes that historically, the venture portfolio has yielded the juiciest returns. Additionally, the organization's esteemed reputation and mission, like the Smithsonian's wide recognition, lower the accessibility barriers to quality venture funds. This strategic emphasis on venture capital aligns with the organization's innovation-driven ethos and enjoys strong support from the investment committee.
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