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Origins - Inside Venture Capital, Hosted by a GP and an LP
Franchise Funds: Becoming (and Remaining) One with Stephen Bluestein
Dec 10, 2024
Stephen Bluestein, a partner at Adams Street Partners with a rich history in venture capital, shares insights with LP Beezer Clarkson. They explore what defines a franchise fund and the intricate process of achieving that status. Topics include the essential performance metrics needed to qualify as a franchise and the necessary adaptability for ongoing success. Bluestein emphasizes the importance of intentionality and maintaining a strong brand. This conversation is a treasure trove for anyone looking to understand the nuances of venture capital.
50:35
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Quick takeaways
- Franchise funds are defined by their consistent exceptional returns and a strong brand presence that resonates in the venture capital landscape.
- The journey to becoming a franchise fund requires clear strategy and processes for talent development and a culture that promotes excellence.
Deep dives
Understanding Franchise Funds
Franchise funds are characterized by their ability to consistently deliver exceptional returns and maintain a strong brand presence in the venture capital landscape. The term 'franchise fund' lacks a formal definition, yet it reflects a sense of recognition and excellence among investors and entrepreneurs. A franchise fund typically emerges from a well-established track record, coupled with the ability to attract top-tier talent and investors. To be recognized as a franchise fund, a firm must demonstrate sustained success over multiple fund cycles and create an environment that supports growth, talent acquisition, and strategic decision-making.
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Listen to the best highlights from the podcasts you love and dive into the full episode