Swimming with Allocators

Highlights from this week’s conversation include:Introduction of Guests (0:13)Raudline’s Journey to Allocator (1:18)Kevin's Non-Traditional Path (2:37)Lessons from the Allocator Perspective (4:03)Balancing Process and Creativity (9:54)Raudline’s Firm Inspiration (11:15)Kevin's Firm Motivation (13:57)Building Founder Relationships (19:10)Embracing Discomfort for Growth (24:04)Changes in LP Expectations (30:28)Growth Through Discomfort (34:31)Characteristics of a Good Investor (37:30)Timing in Venture Capital (41:03)Evaluating Opportunities (44:24)Rethinking Fund of Funds (48:22)Impact of Technology on Investment (51:08)Building Relationships in Venture Capital (54:55)Final Thoughts and Closing Remarks (1:00:00)Daraja Capital is a mission-driven investment firm focused on empowering diverse and emerging fund managers across the private markets. By providing strategic capital, operational support, and long-term partnership, Daraja Capital bridges opportunity gaps and helps unlock the next generation of world-changing investors and entrepreneurs. Learn more about their work and vision at darajacapital.com.Serac Ventures is an early-stage venture capital firm investing in the next generation of global companies. Our willingness to venture where others won’t provide access to new markets and creates differentiated opportunities for our network of founders and investors. The firm takes its name from large ice formations (seracs) that form at high altitudes in the tallest mountains in the world. Seracs are the most difficult obstacles to overcome before reaching the summit. Similarly, our mission is to guide founders to help them overcome the ‘seracs’ they encounter as they grow their companies. For more information, please visit www.seracventures.vcSidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Justin's Journey into Finance (1:11)Changes in Investment Management (4:59)Institutionalization of RIAs (7:47)Overview of AWM Capital's Services (11:22)Athletes as Clients (15:16)Engaging Athletes as LPs (16:21)Educating Clients on Private Markets (20:19)Regulatory Shifts in Venture Funds (24:23)Insider Segment: Emerging Managers and Diverse Perspectives (27:38)Complex Fund Agreements (31:02)Venture Capital Strategy Insights (33:11)Evolution of Partnerships (36:16)Due Diligence Criteria Overview (40:14)Stewardship of Capital (44:08)In-Person Connections (47:58)Challenges for Emerging Managers (51:00)Human-Centered Capital Allocation (55:39)Final Thoughts and Takeaways (57:18)AWM Capital is a multi-family office dedicated to providing comprehensive wealth management services to professional athletes, business owners, and multi-generational families. With a commitment to independent, conflict-free advice, AWM integrates investment management and financial planning to help clients achieve their financial goals. Learn more: https://awmcap.com/Sidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Differences Between Canada and the US (1:17)Canadian Ecosystem Growth (3:32)LP Network Composition (4:36)Gap in Corporate Investment (8:12)Paula's Journey at BDC Capital (10:54)Government Support for VC (14:05)Advice for Attracting Capital (18:56)Venture Ecosystem Growth in Canada (22:08)Insider Segment: Evolving Role of Legal Counsel (24:57)Impact of Legal Partnership (29:01)Measuring Success in Ecosystem Building (30:34)The Camel Metaphor (34:48)Challenges in Scaling (37:24)Resilience in Funding (39:49)Investment Criteria for Canadian Funds (42:36)Advice for Investing in Canada (46:08)Final Thoughts and Takeaways (47:39)BDC Capital is the investment arm of the Business Development Bank of Canada (BDC), dedicated to supporting Canada’s most innovative companies and building a thriving venture ecosystem. Through strategic investments and partnerships, BDC Capital balances financial returns with a mandate to foster long-term growth and inclusion in Canada’s economy.https://www.bdc.ca/Sidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Laura's Journey to Allocator (1:05)Differentiators of Sapphire Partners (6:35)Advice for New Allocators (9:54)Shifts in Manager Selection Focus (11:41)Understanding the Underwriting Process (14:57)Balancing Emerging and Established Managers (16:09)Characteristics of Successful Emerging Managers (18:04)The Importance of Fund Size and Strategy (20:11)Insider Segment: Trends in Venture Structures (27:11)Consolidation of Relationships in Fundraising (29:02)Emerging Managers and LP Categories (32:09)Evaluating Established Firms (35:26)Portfolio Construction Guidance (38:38)Reserves Strategy in Venture Capital (41:20)Challenges of Co-Investment Strategies (43:40)Sapphire's Resources for LPs (45:11)Importance of Feedback and Strategy (48:20)Final Thoughts and Takeaways (49:56)Sapphire Partners has been investing in early-stage venture capital funds since 2012 and seeks to identify and support the “New Elite'' managers across the US, Europe and Israel who are uniquely suited to invest in the next generation of technology category leaders. Through its underlying managers, Sapphire Partners has indirectly invested in over 3,200(6) companies since inception. Sapphire Partners looks to partner with managers across their journey as a GP and is focused on adding value beyond its capital commitments through value-add services, industry insights, and its efforts to demystify the ‘LP Perspective’ through the OpenLP initiative. Sapphire Partners is part of Sapphire, a specialized technology investment firm with more than $10 billion in assets under management across three distinct strategies and with team members across Austin, Menlo Park, San Francisco and London. To learn more, visit https://sapphireventures.com. Sidley Austin LLP is a premier global law firm with a dedicated Venture Funds practice, advising top venture capital firms, institutional investors, and private equity sponsors on fund formation, investment structuring, and regulatory compliance. With deep expertise across private markets, Sidley provides strategic legal counsel to help funds scale effectively. Learn more at sidley.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Lockwood's Background and Journey (0:46)Vincimus Capital Overview (2:09)Democratization of Private Markets (3:51)Transition to Private Equity (4:52)Influence of Shackleton's Endurance (7:43)Current Market Opportunities (8:40)Criteria for Ideal Clients (14:26)Opportunities in Larger Investments (17:09)Slow Dating in Manager Selection (20:26)Evaluating Deal Opportunities (22:07)Insider Segment: SVB's Approach to Innovation (26:10)Diversification in Venture Capital (31:07)Investment Buckets (36:02)Philanthropy in Wealth Management (39:00)Fund Manager Dynamics (41:55)The Importance of Patience in Investment (46:28)Connecting with Contacting Vincimus Capital and Final Thoughts (48:22)Vincimus Capital is an investment platform and community founded upon shared values and trusted relationships. As a team of capital allocators, we seek to deliver risk-adjusted returns that support the present and future needs of the values-aligned families we serve. Learn more: https://www.vincimus.com/Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Ian’s Journey in Wealth Management (0:41)Founding Westfuller Advisors (5:05)Challenges in Early Days (10:36)Current Differentiation and Pitch (12:18)Long-term Strategic Asset Allocation Model (14:37)Ownership Lens Focus (16:57)Advocacy for Due Diligence (18:16)Economic Mobility and Career Decisions (22:32)Insider Segmeng: Catalyst 2045 Initiative Overview (25:59)Investment Focus Areas (28:32)Challenges in Supporting Underrepresented Founders (32:16)Future of Values-Aligned Investing (35:04)Investment in Generative AI (40:56)Incremental Impact in Investment (43:46)Active Ownership and Corporate Stewardship (46:43)Building Long-Term Partnerships (48:39)Final Thoughts and Takeaways (50:55)Westfuller Advisors is a values-driven investment advisory and wealth management firm dedicated to providing advice, strategy, and investment management for mission-aligned individuals, families, nonprofits, and foundations globally. Committed to fostering a just and equitable society, Westfuller integrates clients' values into tailored financial solutions. Learn more: https://westfulleradvisors.com/Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Meghan's Background and Journey (1:18)Capital Formation Insights (7:39)Lessons from Goldman Sachs (9:05)Advice for Emerging Managers (11:11)Importance of Client Experience (17:00)The Competitive Landscape of Venture Capital (19:14)Changing GP and LP Relationships (23:29)Creativity in Investor Relationships (28:19)Insider Segment: Florida’s Diverse Venture Ecosystem (31:10)Challenges and Opportunities in Florida Startups (35:40)Talent Access and Flexibility (39:08)Institutional Reporting Challenges (41:02)Trust and Transparency in Fundraising (45:23)Institutional LP Process Advice (49:35)Power Law in Venture Capital (54:35)Understanding Capital Allocation (56:49)Fund Sizes and Venture Capital Dynamics (1:00:12)Final Thoughts and Takeaways (1:05:10)Altimeter Capital Management is a leading investment firm specializing in technology-focused public and private market investments. By integrating insights across markets, Altimeter aims to drive innovation in the financial industry.http://www.altimeter.com/Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:​​Samir’s Background and Journey (0:31)Founding Allocate (1:09)Emerging Managers Focus (4:26)Market Cycles and Investment Strategies (8:11)Current Market Trends (12:22)Illiquidity in Venture Capital (14:04)Misconceptions About Venture Capital (16:05)Direct Investments vs. Fund of Funds (19:51)Operational Needs of Wealth Advisors (22:13)Building Infrastructure for Investment (24:16)Insider Segment: Nico Toro of Silicon Valley Bank (27:00)Customization in Different Markets (28:55)Understanding Local Ecosystems (30:07)Opportunities in Fintech (32:26)Consolidation in Private Equity (36:49)Investment Strategies for Family Offices (40:43)Responsible Participation in Venture Capital (44:50)Ideal Investor Profile (47:05)Market Growth and Challenges (50:04)Current Investment Climate (52:00)Connecting with Samir and Final Thoughts (53:12)Allocate is a platform designed to modernize and democratize private market investing by providing accredited investors with curated access to top-tier private capital funds and direct investment opportunities. Allocate’s mission is to empower a broader audience of investors to participate in private markets while emphasizing transparency, efficiency, and inclusivity. https://www.allocate.coSilicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Insider Segment: SVB’s Role in the Innovation Economy (1:14)Challenges for Emerging Managers (4:31)Global Innovation and Connectivity (6:15)SVB's Offerings Beyond Financing (8:41)Treasury Services and Liquidity Solutions (10:59)Ertan Can’s Background and Journey into VC (13:45)The Birth of Multiple Capital (17:41)Pan-European Portfolio Strategy (20:38)Investment Jurisdictions and Structures (24:06)Opportunities for US Investors (28:27)Exit Markets and Valuation Benefits (30:01)The Rise of European Startups (33:08)Identifying Outliers in the Ecosystem (35:10)Focus on Small and Seed-Stage Funds (38:31)Adapting to Market Changes (42:26)Advantages of Solo GPs (45:24)Future of the European Market (50:27)The Randomness of Venture Success (54:25)Final Thoughts and Takeaways (1:01:09)Multiple Capital is Europe’s first tech-focused fund of micro funds, founded in 2018 by Ertan Can. The firm invests in emerging and solo fund managers across Europe and the U.S., focusing on overlooked opportunities in niche geographies and verticals. With a portfolio spanning over 1,000 companies, Multiple Capital aims to democratize access to early-stage tech investments and foster innovation. Learn more: https://www.multiple.capital/Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com. Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.

Highlights from this week’s conversation include:Reflections on Season 2 (0:45)Discussion on Industry Changes (2:18)Concerns Over Capital Allocation (6:05)Emerging Trends in Allocator Careers (8:18)Co-Investments Trend (10:23)Challenges of Co-Investing (12:43)Allocator Self-Awareness in Co-Investing (17:52)Debate on Valuation Processes (19:02)Challenges of Fundraising (22:00)Impact of AI on the Industry (23:21)Targeting the Right LPs (25:02)Predictions for 2025 (29:51)Future Guests for the Podcast (32:08)Recommended Reading (34:41)Final Thoughts and Reflections (37:12)Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.