The Distribution by Juniper Square

How LPs and GPs Build Trust in a Changing Market - Katie Riester - Managing Director & GP of Fund of Funds Investing - Felicis

Oct 14, 2025
In a captivating discussion, Katie Riester, Managing Director at Felicis Ventures, shares insights from her 15+ years as an institutional investor. She reveals how she transitioned from traditional finance to shaping venture capital dynamics. Katie elaborates on the evolving relationship between LPs and GPs, emphasizing transparency and authenticity. She also discusses the characteristics of successful AI-native founders and Felicis' unique approach to supporting them through initiatives like the founder pledge, all while adapting to new technology waves.
Ask episode
AI Snips
Chapters
Transcript
Episode notes
ANECDOTE

Internships Shaped A Career

  • Katie describes her path from internships at Vanguard and a private equity firm to a career in private markets.
  • Early tasks like transcribing paper 401k forms taught her attention to detail and shaped her investment approach.
ANECDOTE

Early Training At Cambridge Associates

  • Katie chose Cambridge Associates for its training program and mission-driven clients like endowments and nonprofits.
  • That role exposed her to all asset classes and long-term institutional thinking early in her career.
ANECDOTE

Twelve Years At SVB Capital

  • At 25 Katie moved to SVB Capital to work closer to the deal and spend 12 years in a fund-of-funds role.
  • That period covered the global financial crisis and huge shifts in the venture model.
Get the Snipd Podcast app to discover more snips from this episode
Get the app