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"Turpentine VC" | Venture Capital and Investing

E23: Tomasz Tunguz on the Theory Behind Theory Ventures

Jan 23, 2024
Tomasz Tunguz, General Partner at Theory Ventures, discusses the Theory Ventures model, the contraction in investable VC dollars, the parallels between PE and VC, and the significance of research and analysis in venture capital. They also explore LPs and venture firm fundraising, the future of multi-stage VC firms, the current state of the economy and software and fintech sectors, and the ideal concentration of companies in a fund and the future of accelerators.
53:21

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Theory Ventures focuses on a thesis-driven, highly concentrated portfolio to provide long-term support to their portfolio companies.
  • Theory Ventures aims for higher ownership in venture capital investments by focusing on specific categories where they have deep expertise and conviction.

Deep dives

Theory Ventures focuses on a highly concentrated portfolio construction strategy

Theory Ventures uses math and research to create a thesis-driven, highly concentrated portfolio. They conduct extensive research on different sectors, invest at the early stage, and continue to invest as companies grow. This approach allows them to have a deep understanding of the spaces they invest in and provide long-term support to their portfolio companies.

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