Lara Banks

Lara Banks, a leader at Makena Capital Management, dives into the evolving landscape of venture capital and private equity. She highlights how AI is reshaping LP allocation strategies and the convergence between venture and buyout firms. Lara discusses the significance of secondary markets as a new liquidity force and the increasing importance of strategic relationships in underwriting investments. She emphasizes the need for adaptability and community connection in navigating today's dynamic investment environments.

Casber Wang from Sapphire Ventures, Lara Banks of Makena Capital, and David Cohen, co-founder of Techstars, share critical insights into investor-founder dynamics. Wang stresses the importance of aligning expectations by posing tough questions about responses to setbacks. Banks discusses how she scrutinizes fund managers and evaluates long-term success criteria. Cohen emphasizes the necessity for founders to connect with investors who have faced challenges, highlighting personal stability as a crucial factor in ensuring effective management.

Lara Banks leads venture investing at Makena Capital Management, overseeing a $3 billion portfolio across 30 managers. In this discussion, she explores the surge of AI valuations, arguing that their rapid revenue growth justifies hefty price tags despite high infrastructure costs. Banks highlights the challenges solo GPs face and the shifting dynamics in the LP community. She also shares insights from the 2021 boom-bust cycle and discusses emerging liquidity opportunities in the secondary market as companies remain private longer.