Capital Allocators – Inside the Institutional Investment Industry Beezer Clarkson – Sapphire Gem of Early Stage Venture (Capital Allocators, EP.120)
Jan 20, 2020
Beezer Clarkson, Managing Director at Sapphire Ventures, brings a wealth of knowledge on early-stage venture capital. She shares her unique career journey from investment banking to VC and explains Sapphire's strategic operations. The discussion covers critical aspects of due diligence, the challenges of prolonged private ownership, and the innovative #OpenLP forum aimed at enhancing industry communication. Listeners will appreciate her insights into navigating the complexities of venture capital and the importance of strong relationships in the investment landscape.
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Beezer's Meandering Career Path
- Beezer Clarkson's career path was non-linear, starting in investment banking despite lacking accounting knowledge.
- She transitioned to venture capital through a firm managing Pierre Omidyar's investments, discovering her passion for fund investing.
Sapphire's Unique Structure
- Sapphire Ventures maintains separate teams and capital pools for its direct growth fund and its early-stage venture fund-of-funds.
- This separation ensures GP confidentiality and allows each team to prioritize their respective portfolio's success.
Permanence of Capital
- Sapphire Ventures' LP fund-of-funds strategy emphasizes long-term, evergreen capital, similar to endowments and foundations.
- SAP, the enterprise software company, provides the capital and benefits from the partnership's network and deal flow.