Capital Allocators – Inside the Institutional Investment Industry Justin Fishner- Wolfson - 137 Ventures (Manager Meetings, EP.25)
Dec 23, 2021
In this conversation, Nat Fraser, an Executive Director at Agility, interviews Justin Fishner-Wolfson, Co-Founder of 137 Ventures, a firm renowned for its innovative investment strategies. They delve into the unique approaches to sourcing deals in venture capital and the evolving dynamics of the IPO market. The dialogue touches on the challenges of talent acquisition in a competitive landscape and the personal struggles of balancing career success with parenthood. Justin shares valuable life lessons about kindness and patience in business, enriching the discussion.
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Uber Investment
- Nat Fraser's team gained conviction in 137 Ventures' strategy over years.
- A key example was 137 Ventures' Uber investment, structured as a loan collateralized by shares, which outperformed traditional VC investments during the post-IPO downturn.
Strategy Over People
- 137 Ventures' strategy itself is inherently effective, providing downside protection.
- The team's network and reputation are essential for sourcing deals in this niche market.
Facebook's Liquidity Gap
- Observing friends at Facebook needing liquidity for life events but holding illiquid shares sparked the idea for 137 Ventures.
- Justin Fishner-Wolfson realized no existing capital source served this need, recognizing a market opportunity in the growing trend of companies staying private longer.