Swimming with Allocators

Highlights from this week’s conversation include:The Growth and Evolution of Impact Investing (0:47)Misconceptions about Impact Investing (3:34)Impact Investing in Political Climate (7:59)Spring Point Partners' Mission (11:07)Venture Capital and Impact Strategy (12:28)Assessing and Vetting Fund Managers (14:41)Impact Labeling for Fund Managers (16:47)Fundraising Strength and Networked Wealth (19:13)Silicon Valley Diversity (23:03)Shared Ownership and Participatory Investment Models (28:31)Insider Segment: Stock Option Funding (33:33)Climate Investment Opportunities (42:13)Intersection of Planetary and Human Well-Being (44:06)Community Ownership in Renewable Energy (46:04)Industries and Investment Trends to Avoid (49:47)Applying Historical Frameworks to Investing (55:04)Final Thoughts and Takeaways (57:02)Spring Point Partners is a social impact organization that invests in the transformational leaders, networks, and solutions that power community change and advance justice. We do this by: Seeking out and supporting community leaders who have the vision to see what’s possible and the drive to make that real.Connecting the experience of partners with comprehensive and flexible supports for shared learning and impact. Investing in innovative ideas and adaptive solutions that can spark and scale change for all. Whether we’re partnering on youth development, human-centered learning, animal welfare or water sector leadership or investing in new business models that close opportunity gaps and boost social and economic mobility, we center equity and justice in all we do — supporting individuals and ideas that can have a catalytic impact in their communities and on our society.  Together, let’s change the way social impact is achieved. Learn more: www.thespringpoint.com.Vested empowers startup employees to capitalize on their hard-earned equity, primarily by providing funding to help exercise stock options. The company’s overarching mission is to democratize access to equity, ensuring that startup employees both understand and have a real chance to tangibly benefit from the shares they’re granted.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:Alex's experience as a VC turned LP (0:51)Insights into evaluating smaller funds (2:20)Characteristics of a good LP (6:44)Role of an LP as a sounding board (8:06)Constructing an LPAC (10:39)Continuing relationships with funds (12:15)Pitch to LPs for Slipstream Investors (14:17)Evaluating Emerging Managers (18:53)Sector-Focused Funds (24:05)Insider Segment: Navigating Venture Capital’s Evolution (25:45)Diversification of Investment Opportunities (28:35)Future of Venture Capital (30:38)Fund Management and Responsibilities (34:45)Active Investing and Fund Sourcing (35:33)Optimal Time for Venture Investment (37:08)Final thoughts and takeaways (38:26)Alex Edelson is the Founder and General Partner of Slipstream Investors. Before starting Slipstream, he worked at QED Investors, a top fintech-focused venture capital firm with $4.3 billion in assets under management. Alex joined as Nigel Morris's Chief of Staff and became the Chief Operating Officer and General Counsel. He previously worked at a fintech startup and spent seven years practicing law. Alex holds a J.D. and B.A. from the University of Michigan. Learn more at www.slipstream investors.com.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.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.

Venture capital expert Kate Nevin discusses expanding investment strategies, including sourcing, early stage investments, supporting female managers, and diversity in venture capital. Highlights include simplifying SPVs, negotiating terms, sustainability in VC, impact investing, and empowering women in finance. She emphasizes the importance of mentoring female founders and advocating for diversity and community building in the investment world.

Highlights from this week’s conversation include:The LA venture ecosystem (0:43)Unique investment opportunities in LA (3:54)Leveraging entertainment and deep tech in LA (6:42)The Partnership between Josh and Ankeet (7:47)Finding the right partner (9:23)The goal of FirstLook Partners (11:35)Fee structure of fund of funds (15:47)Strategy Shifts and Market Validation (18:13)Co-Investment Strategy (20:05)Investment Thesis and Co-Investment Opportunities (21:30)Insider Segment: Fund Administration and the Rise of Hybrid Fund Models (24:42)Product Development and Core Focus (27:18)Future of Venture Capital and Hybrid Fund Models (31:36)Sourcing new managers (36:46)Criteria for manager selection (37:41)Unique investment strategies (38:24)Venture allocation and market dynamics (43:40)Challenges in decision-making and final takeaways (44:57)Founded in 2023, FirstLook Partners is a hybrid fund of funds investing in venture capital firms under $50M and software companies. FirstLook is managed by Josh Porter in Los Angeles, CA and Ankeet Kansupada in Chicago, IL. Visit their website at firstlookpartners.com.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.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:Edward and Earnest’s Basketball Memories (0:47)The importance of pension investments (5:42)How fund managers should approach pension plans (7:59)Unique challenges of pension plans (10:41)Role of venture in the portfolio (13:02)Impact of public markets on venture deployment (14:14)Looking for new managers in 2024 (16:11)Investment vehicles (18:17)Insider Segment: Revolutionizing Venture Capital Operations (20:44)Fund administration best practices (23:24)Trends in SPVs (24:52)Warehousing deals (28:33)Comparison and tracking of managers (31:02)DPI and Valuation Accuracy (32:50)Liquidity and Capital Strategies (35:06)Zombie Funds and Succession Planning (37:44)Venture Capital and Portfolio Diversification (44:08)Final Thoughts and Takeaways (45:38)The San Francisco Employees’ Retirement System (SFERS) is dedicated to securing, protecting, and prudently investing pension trust assets, administering mandated benefits programs, and providing promised benefits to more than 77,000 active, vested, and retired City and County of San Francisco employees and their survivors. SFERS administers two benefit programs, a $33 billion Pension Plan (defined benefit plan) and a voluntary employee 457(b) Deferred Compensation Plan. For more information, visit their website.Sydecar.io is a frictionless deal execution platform for venture investors. Our platform handles back-office operations for venture investors, automating banking, compliance, contracts, and reporting so that customers can focus on making deals and building relationships. Learn more at www.sydecar.io.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:Chris’ background and expertise in private market investments  (0:12)Challenges of Venture Capital (2:14)Multifamily Offices and Client Demographics (4:42)Advice on Participating in Alternative Investments (6:16)Sourcing of Fund Managers (8:22)Behavioral Finance and Market Behavior (9:45)Opportunities in Private Credit (12:37)Behavioral Finance in Due Diligence (13:17)Insider Segment: Matching Team Talent to Capital (15:59)Valuing People and Operations in Startups (17:36)Market Bubbles, Crashes, and Underwriting Strategies (19:10)Networking, Learning, and Building Brand (24:39)Impact of Institutionalization on Private Investments (26:31)Negotiating with Fund Managers (29:36)Adapting Criteria for Fund Managers (32:21)Fun Fact: Chris’ Private Detective Days (33:15)Final Thoughts and Takeaways (35:45)Caprock, founded in 2005, provides aligned management of complex wealth for ultra-high-net-worth individuals and families. Caprock goes beyond investment execution, managing each client’s entire balance sheet for true alignment with their objectives. The firm is a privately held, multi-family office with more than $8.6 billion in assets under advisement. Caprock specializes in non-public markets, managing more than $4 billion in private market investments. Furthermore, Caprock adheres to a longstanding and principled approach to integrated impact investing. The firm serves as a full-service outsourced Chief Financial Officer and Chief Investment Officer, offering clients unique portfolios that secure their financial legacy, free from Wall Street’s constraints and conflicts. The firm is an SEC-registered investment advisor and a founding B-Corporation with locations in Boise, Seattle, San Jose, Newport Beach, Park City, New York, and Austin. This site is intended to provide general information about Caprock and is not a solicitation or offer to sell investment advisory services except in states where we are registered or where an exemption or exclusion from such registration exists. All content is for informational purposes only and may not constitute a complete description of available investment services. Registration with the SEC does not imply a certain level of skill or training.Armstrong International is a specialist financial services executive search firm with 30 years'​ experience across Public and Private Markets. Our consultants possess deep subject matter expertise within; Fixed Income, Equities, Private Equity, Private Debt, Digital (Data Science & Technology), Private Wealth, Corporate Finance, Real Estate, Infrastructure, Emerging Markets, Credit, FX, Emerging Markets & Commodities We are trusted by some of the world's leading financial institutions, who use us for 3 primary reasons: industry expertise, speed of hire, and ease of doing business. We like to innovate and have been at the forefront of some of the most profitable and exciting changes in the industry, including the technology revolution and the ever-expanding world of Private Markets.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:Jason’s background as an LP (0:27)Learning as an LP (3:00)Deal Flow and Decision Making (4:54)LP Archetype and Relationship Building (9:07)Venture Investment Strategy (10:55)Communication and Strategy (14:48)Different Investor Preferences (16:25)Predatory Behavior in Acquisitions (18:49)Insider Segment: Advice for Entering the Venture Capital Industry (23:53)The Future of Venture Capital (26:40)Jason's Fund Strategy (30:39)Defining Success and Legacy (32:45)Early Success and Process (35:14)The Future of Startups (40:31)LPs and GPs Relationship (43:10)Jason's Philosophy on Success (46:44)Jason's Process and Parting Advice (49:29)Jason Calacanis is an American Internet entrepreneur, angel investor, and podcaster known for his keen insights into the tech startup ecosystem. With a net worth of approximately $100 million, he invests in over 100 startups annually through Launch.co. Calacanis also educates aspiring founders at Founder University and hosts the popular podcasts “All in Podcast” and "This Week in Startups." His notable investments include Uber and Robinhood.Armstrong International is a specialist financial services executive search firm with 30 years'​ experience across Public and Private Markets. Our consultants possess deep subject matter expertise within; Fixed Income, Equities, Private Equity, Private Debt, Digital (Data Science & Technology), Private Wealth, Corporate Finance, Real Estate, Infrastructure, Emerging Markets, Credit, FX, Emerging Markets & Commodities We are trusted by some of the world's leading financial institutions, who use us for 3 primary reasons: industry expertise, speed of hire, and ease of doing business. We like to innovate and have been at the forefront of some of the most profitable and exciting changes in the industry, including the technology revolution and the ever-expanding world of Private Markets.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:Themes from Allocators (1:29)Opportunities and Market Trends (5:49)Debate on Venture Returns and Fund Strategies (8:22)Opportunity and Market Bifurcation (13:13)Game: FMK - Fund Manager Scenarios (15:24)Discussion of the value of a founder's experience and relationships (19:35)Investor Archetypes (20:48)Flight Risk of GPs (22:55)VC Contraction (25:50)LPs and Founders' Perspective (29:06)Sourcing, Selection, and Support (32:23)Support for Founders (33:11)The AI tool for due diligence (34:05)First-time fund manager's dilemma (35:19)What LPs should ask GPs (38:14)Nostalgia in the VC industry (42:17)Reflection on the industry's inflection point (44:34)Final thoughts and takeaways (45:27)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. Follow along and subscribe at swimmingwithallocators.com.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:Eric’s background in venture and investing (0:02)Lessons from a Bottom Decile Experience (2:20)Motivation to Enter the Venture Capital Space (3:45)Challenges for New LP Allocators (6:08)Supporting Emerging Managers (7:35)Specialists vs. Generalists (10:53)Judging New Fund Managers (16:24)Attributes for Winning in Fund Management (18:57)Insider Segment: Building Teams in Venture Capital (21:00)Starting in Venture Capital (27:02)Future of Venture Capital (28:14)Finding Family Offices (31:16)Investing through fund of funds (34:32)Engagement with LPAC (38:02)Follow-on strategy and tiered investment (40:24)Challenges and advice for emerging managers (45:03)Eric Sippel is an esteemed philanthropist and investor. He currently runs his family office and is an active investor and adviser to real estate, venture capital, and hedge funds. Previously, he was the COO of Eastbourne Capital Management, a multi-billion dollar hedge fund firm, and a Partner at Shartsis, Friese & Ginsburg, where he was a nationally recognized hedge fund and venture capital lawyer.  Eric graduated from Stanford Law with Distinction and Wesleyan University with Honors in General Scholarship. Eric has served on many nonprofit boards, including his current role as Chair of Goodwill of San Francisco, San Mateo, and Marin Counties.Armstrong International is a specialist financial services executive search firm with 30 years'​ experience across Public and Private Markets. Our consultants possess deep subject matter expertise within; Fixed Income, Equities, Private Equity, Private Debt, Digital (Data Science & Technology), Private Wealth, Corporate Finance, Real Estate, Infrastructure, Emerging Markets, Credit, FX, Emerging Markets & Commodities We are trusted by some of the world's leading financial institutions, who use us for 3 primary reasons: industry expertise, speed of hire, and ease of doing business. We like to innovate and have been at the forefront of some of the most profitable and exciting changes in the industry, including the technology revolution and the ever-expanding world of Private Markets.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. Follow along and subscribe at swimmingwithallocators.com.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:Boris’ Reasoning for Investing in Emerging Managers (0:57)Wrong Reasons for VC Investment in Emerging Managers (3:15)Funding Strategy at Version One (4:28)Motivation for GP Level Investments (5:27)Areas of Interest for Investments (6:59)Relationship with Fund Managers (8:24)How One Tweet Generated an Overwhelming Response (11:56)Insider segment: Building Successful Teams with Ownership and Accountability (14:13)Trends in VC (24:32)Climate and Tech Funds (26:48)Investing in Climate (28:55)Fundraising Strategies (29:53)Advice for Emerging Managers (32:10)Fundraising Tactics (35:40)The LP Investment Mindset (37:53)Importance of Conviction in Risky Asset Classes (39:28)Success Stories and Non-traditional Paths (40:02)Selecting Emerging Managers (41:13)Final thoughts and takeaways (43:33)Boris Wertz is an entrepreneur turned investor. He is Co-Founder of AbeBooks, which sold to Amazon. And an early-stage investor and founding partner at Version One. Their Current portfolio of 100+ investments, includes Ada, Booster Fuels, Coinbase, Dapper Labs, Jobber, Outreach, Shippo, and Uniswap.versionone.vcArmstrong International is a specialist financial services executive search firm with 30 years'​ experience across Public and Private Markets. Our consultants possess deep subject matter expertise within; Fixed Income, Equities, Private Equity, Private Debt, Digital (Data Science & Technology), Private Wealth, Corporate Finance, Real Estate, Infrastructure, Emerging Markets, Credit, FX, Emerging Markets & Commodities We are trusted by some of the world's leading financial institutions, who use us for 3 primary reasons: industry expertise, speed of hire, and ease of doing business. We like to innovate and have been at the forefront of some of the most profitable and exciting changes in the industry, including the technology revolution and the ever-expanding world of Private Markets. www.armstrongint.comSwimming 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. Follow along and subscribe at swimmingwithallocators.com.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.