EUVC
EUVC | E451 | Cocoa's Carmen Alfonso Rico & Integra GA's Evan Finkel on How LPs Build Conviction When Evaluating Emerging Managers
Apr 22, 2025
Carmen Alfonso Rico, a VC turned angel investor at Cocoa Ventures, and Evan Finkel, Head of Venture Capital Investments at Integra Global Advisors, delve into the evolving expectations of Limited Partners (LPs). They discuss strategies for targeting the right LPs and navigating the complexities of fundraising in varying market conditions. Carmen shares insights from her experiences with Cocoa Fund I and II, while Evan provides a framework on evaluating funds based on clarity and track record. Their conversation illuminates the critical dynamics of LP-GP relationships.
01:09:51
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Quick takeaways
- The European venture capital ecosystem heavily relies on governmental support, limiting choices for emerging managers and obscure funding opportunities.
- Differences between US and European LP landscapes emphasize the need for Europe to diversify its LP base for enhanced fund viability.
Deep dives
Challenges for Emerging Managers in Europe
The European venture capital landscape faces significant challenges, particularly for emerging managers and smaller funds. A primary issue is the lack of depth in the limited partner (LP) base, which hampers the ability of new funds to secure the necessary backing. Many funds rely on governmental institutions for initial capital, which can skew the dynamics of investment and reduce the availability of resources for funds that may offer better returns. This situation limits the potential growth and sustainability of emerging managers in the ecosystem.
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