Hunter Somerville

Logan Bartlett, a Partner at Redpoint Ventures, focuses on tech investments, while Hunter Somerville of StepStone Group specializes in fund investments. They dive into the challenges smaller venture funds face in the shifting fundraising landscape. The discussion reveals the significance of capital efficiency and governance in venture capital. They also explore the complexities of M&A and the caution needed in AI investments, highlighting the delicate balance of liquidity strategies and the importance of aligning incentives among investors and founders.

Hunter Somerville, a Partner at StepStone Group, shares insights from his two decades in venture capital. He discusses the misconceptions about emerging managers and reveals what truly gets them funded. Hunter emphasizes the importance of metrics beyond DPI and TVPI, and how LPs assess performance pre-liquidity. He also outlines strategies for fund managers to distinguish themselves and dives into the critical nature of trust in financial partnerships. Plus, his unique time management techniques highlight the delicate balance between work and personal life.

The podcast delves into StepStone's unique approach to venture capital, their transition to leading deals, and their full life cycle investing. They discuss accessing companies in the secondary market, identifying potential in emerging managers, and StepStone's value-add to funds and companies. The conversation also explores the qualities and mindset essential for success in business, emphasizing dedication, relationship-building, and adding value to portfolio companies.

Hunter Somerville, Partner at StepStone and seasoned venture capital expert, dives into the evolving landscape of secondary markets. He unpacks the three types of secondaries and discusses how the current economic climate is reshaping fund sizes and LP commitments. Somerville raises concerns about LPs potentially pulling out of existing managers, driven by the denominator effect. He also shares insights on the implications of venture capital valuations and emphasizes the need for strong GP-LP relationships in turbulent times.

Logan Bartlett, Hunter Somerville, and Jason Calacanis discuss fundraising indicators, secondary markets, and Google's investment in AI. They touch on the challenges of venture capital, importance of liquidity, and competition in the AI ecosystem.