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Superclusters - The Emerging LP Podcast
The GP Data You've Never Collected Before | Kelli Fontaine | Superclusters | S4E1
Nov 11, 2024
Kelli Fontaine, a partner at Cendana Capital and former figure skater, discusses her expertise in venture capital focusing on pre-seed and seed funds. She emphasizes the critical role of data in investment decisions and shares insights on measuring unique datapoints that many LPs overlook. Kelli explains why neutral references can be more detrimental than negative ones and stresses the importance of thorough reference checks. The conversation highlights how understanding biases and the personal dynamics between fund managers and founders can elevate investment success.
58:17
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Quick takeaways
- Neutral references can obscure true fund manager performance, emphasizing the need for extensive reference checks to gather valuable insights.
- A systematic data analysis approach enhances early-stage investment strategies by identifying trends and patterns that inform decision-making.
Deep dives
The Role of References in Venture Capital
Neutral references can often be misleading in the venture capital industry, as they may not offer a comprehensive view of a fund manager's capabilities. When limited to a few references, there's a risk of missing crucial insights that can indicate a manager's strengths or weaknesses. This gap in information highlights the importance of conducting multiple reference calls, with a target of around 40, to identify trends and gather a fuller picture of a manager's performance and effectiveness. Founders are more likely to provide useful feedback when their relationship with a fund manager is understood, enabling accurate assessments of the value a manager brings.
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