How Screendoor Underwrites First-Time Fund Managers with Lisa Cawley

Highlights from this week’s conversation include:

• Lisa's LP Career Journey (1:05)
• Changes in the Venture Capital Landscape (4:21)
• Introduction to Screendoor (6:16)
• GP Advisory Services Explained (8:47)
• Portfolio Construction Approach (13:20)
• Analyzing Fund Ones (15:53)
• Investment of Time (17:44)
• Common Pitfalls for First-Time Managers (21:22)
• Legal and Operational Considerations (25:14)
• Insider Segment: Starting a New Venture (00:27:06)
• Understanding Equipment Financing (30:07)
• Lessons from the 2020-2022 Debt Cycle (31:55)
• Importance of Diversifying Funding Sources (36:10)
• The Value of Personal Stories in Fundraising (38:39)
• The Future of Venture Capital Evolution (00:44:17)
• Understanding Fund Management Challenges (46:17)
• Challenges Faced by LPs (48:04)
• Risk Management in Fund Commitments (50:16)
• Encouragement for Younger LPs (51:27)
• Final thoughts and takeaways (52:09)

Lisa Cawley is the Managing Director at Screendoor, an investment platform that invests in new managers raising early institutional venture funds and building an enduring firm. At Screendoor, Lisa leads efforts to reshape the VC landscape by supporting new fund managers. Lisa leads the firm and is responsible for the entirety of Screendoor’s operations and investments. Her commitment extends beyond her professional roles, actively participating in initiatives like Global Women in VC, advocating for economic empowerment, transparency, and inclusivity in the ecosystem. Prior to Screendoor, Lisa worked with a private multi-billion-dollar global investment firm where she was involved in all aspects of managing the firm’s private market portfolio, including sourcing and manager due diligence, asset allocation and forecasting, and creating and implementing the firm’s investment data tools and analytics. Lisa started her career at Ernst & Young, & earned an MBA, MSF, and BBA from Loyola University Maryland. She is a CFA Charterholder and holds a CPA. 

Camber Road is the most cost-effective, flexible and nimble leasing company for venture-backed businesses. We are experienced, but not stodgy. We're hungry, like the startup companies we serve. And we hold every lease on our balance sheet. We finance business-essential equipment for venture-backed companies. We do one thing, and we do it better than the rest. Learn more at www.camberroad.com. 

Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. 

The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.