Sean Warrington of Gresham Partners sits down with David Weisburd and Erik Torenberg to discuss his investment decision-making process, extreme risk factors in diligence, and his approach to investing in emerging managers. The episode also covers reference processes in fund management, the impact of social proof and momentum in investing, and best practices of cutting-edge family offices. (0:00) Introduction to Sean Warrington and discussion on investment models (0:05) Erik Torenberg on non-obvious reference questions (0:15) David Weisburd's top fund investing signals (0:20) Multistage investing, capital deployment, and Gresham Partners insights (4:02) Investment committee dynamics, position sizing, and diligence scenarios (6:46) Gresham's venture book, platform plays, and value add strategies (9:01) Sponsor: Deal (9:43) Emerging managers and common investment process mistakes (13:02) Unique qualities in fund managers and newsletter announcement (15:37) Learning from investment cycles and social proof in fund investing (17:34) Best practices in family offices and closing remarks (19:47) Episode wrap-up and future events

Atul Rustgi sits down with David Weisburd to discuss his role as a GP & LP, the paradoxes of selling and building relationships in VC, and the strategy of focusing on funds under $100 million. They also delve into including biotech as a diversification strategy, the importance of blockchain and crypto exposure, family office investments, and the challenges and rewards of raising a fund during a market downturn. (0:00) Introduction and Atul Rustgi's journey as an LP (1:50) Venture investing and building LP relationships (3:48) Accolade's product-market fit and industry evolution (7:32) Fund strategy, ownership, and portfolio impact (11:47) The dynamics of LP-GP relationships and value-add services (15:29) The passion for venture capital from an LP perspective (16:01) Sponsor: Deal (17:14) Investment vehicles and blockchain exposure (20:10) The art of partnership and reference calls in LP selection (22:16) Factors in anchor checks and re-upping decisions (24:35) Market timing and valuation impacts on funds (26:17) Sponsor: Carrier Labs (26:39) Mentorship and unique strategies at Accolade (28:22) Strategic considerations of fund size

Lindel Eakman, a seasoned venture capitalist, shares his wealth of experience in investment strategies and LP returns. He discusses why venture capital often outperforms hedge funds and private equity, emphasizing its superior risk-return profile. Key topics include the significance of cultural fit and trust in partnerships, the impact of generational transitions, and the role of university endowments as major limited partners. Eakman also dives into the challenges of backing emerging funds and the critical balance between risk and financial conservatism in investment strategies.

Chris Prestigiacomo, Portfolio Manager at the State of Wisconsin Investment Board (SWIB) sits down with David Weisburd and Erik Torenberg to discuss his journey, the role of private debt in venture portfolio management, and the Wisconsin Investment Board's asset allocation strategy. They delve into backing criteria for General Partners, venture capital's role in SWIB's strategy, and the unique governance structure of Wisconsin's retirement system. (0:00) Introduction and recent fund performance insights (0:42) Chris Prestigiacomo's career and private debt's impact on VC (2:20) Venture debt market overview and pension plan strategies (4:01) Selecting GPs and constructing a venture portfolio (7:11) Sponsor: Deal (8:03) Venture capital's role and diversification in large portfolios (9:17) Direct investment strategies and governance advantages (11:18) Managing liquidity and the importance of DPI in venture investments (13:39) Re-upping criteria with managers and portfolio considerations (15:32) Evaluating managers: disagreements and reference checks (17:11) Conclusion and openness to new investment opportunities

Sasha Pieterse of Pretty Little Liars and now Co-Founder and CEO of Hippie Water, sits down with David Weisburd to discuss her journey from child actor to entrepreneur, her experiences working with renowned actors, and her new venture backed startup. They delve into the cannabis beverage market, Hippie Water's D2C strategy, and the importance of authentic representation. (0:00) Introduction of Sasha Pieterse and Hippie Water (0:29) Sasha Pieterse's background and career transition from entertainment to entrepreneurship (2:45) Mental health, social media presence, and family dynamics in business (6:59) Overview of Hippie Water's market positioning and founding team (9:37) Sponsor: Deal (10:06) Leveraging social media for marketing and the role of experienced board members (12:00) Competitive differentiation and distribution strategy of Hippie Water (17:58) Social media strategies and growth plans for Hippie Water (20:37) Addressing challenges for female founders and promoting women in business (23:49) Authenticity, personal growth, and leveraging superpowers in entrepreneurship (27:36) Marketing initiatives and future plans for Hippie Water (30:14) Emphasizing healthy lifestyle choices and values

Katie Riester, Managing Director at Felicis sits down with David Weisburd to discuss venture capital fund strategies, building relationships with GPs, and the math behind venture capital. They discuss the importance of clear communication with LPs, common red flags, and advice for new LPs. (0:00) Introduction to Katie Riester and understanding your LP (2:43) Ownership and fund of funds strategy at Felicis (5:32) Building GP/LP relationships and managing expectations (9:55) Strategies and pitfalls in fund management (11:18) Sponsor: Deal (14:26) Reasons for not re-upping and addressing LP concerns (20:05) Best practices in GP/LP communication (23:47) Understanding and meeting LP perspectives and needs (26:38) Advice for new venture capital LPs and common mistakes (29:11) Motivations and joys of working with GPs and LPs (31:15) Closing remarks and thank you

Michael Sidgmore of Broadhaven sits down with David Weisburd to talk about the growth of the wealth channel and its link to private equity. They discuss iCapital's role in the venture world, access issues for family offices, and the strategies of Broadhaven Ventures. The conversation also covers GP stakes, the future of emerging managers, and the potential of IRA funds for venture capital and real estate investments. (0:00) Introduction to I Capital and its growth (1:10) Welcoming Michael Sidgmore and his background (2:02) Growth of the RIA channel and independent advisors (7:16) Independent channel growth statistics and I Capital operations (10:47) I Capital's relevance and collaboration with venture capital (14:01) Pros and cons for VCs working with the wealth channel (17:25) Broadhaven Ventures strategy and financial services background (20:21) Broadhaven's fintech investments and expansion (21:47) Rise of GP Staking and benefits for VCs (24:55) Outlook for emerging managers and private market development (27:11) Successful investments and focus on smaller managers (28:57) Sponsor: Alto IRA (30:05) Potential of 401ks in private markets and portfolio construction (31:29) Expanding the accredited investor bucket and podcast newsletter announcement

Dave McClure sits down with David Weisburd to discuss his journey into venture capital, including luck, his investment strategy, and the challenges he faced breaking into the industry. He provides an analysis on his two 40x+ funds, 500 Startups, and the misalignment between LPs and GPs. (0:00) Introduction to Dave McClure and venture capital insights (1:02) Breaking into venture capital and early career highlights (3:09) Essential skills for startup founders and venture journey (6:00) The AARRR metrics and content creation strategies (11:17) Managing a $2 million budget and portfolio performance (16:27) Lessons from the FB fund and successful investments (23:16) Founding 500 Startups and portfolio strategy (29:03) Analyzing 500 Startups' fund performance and LP advice (35:27) Global investment approach and practical venture capital (41:19) Understanding the power law in fund performance (42:39) Engaging non-institutional LPs and sizing the secondary market (45:19) Secondary investment strategies and market downturn impacts (46:57) Evaluating the effects of pirate metrics on startups (47:12) Sponsor: Carrier Labs and 10X Capital Newsletter

Guy Perelmuter of GRIDS Capital sits down with David Weisburd to discuss his investment strategy, the unique portfolio construction of deep tech companies, and the potential of DeepTech. They delve into the paradox of AI, its impacts on the labor force, and discuss the ideal GP relationship and transparency. They also touch on LP value-add and the importance of overcommunication. (0:00) Portfolio exposure and GP styles (1:30) Introduction and Guy Perelmuter's background (4:30) Overview of GRITS and investment strategy (8:41) Excitement about biotechnology and deep tech focus (11:02) Future of AI, AI risks, and effective altruism (23:13) Investment models, risk and return simulations (24:47) GP/LP relationships, transparency, and co-investment strategies (29:23) Building trust and communication with GPs (33:49) LP value add and crisis management (36:20) Identifying top GPs and attracting entrepreneurs (39:12) Final thoughts and book recommendation (40:43) Newsletter announcement and sponsor mention

Grady Buchanan and Carrie Thome join David Weisburd to discuss their perspectives on venture capital and strategic investment, drawing from Carrie's 18 years at WARF. They explore the unique model of WARF, the transition from hedge funds to venture capital, and the challenges of managing liquidity. The conversation delves into the all-weather investing approach, founding NVNG, and raising a fund during the COVID-19 pandemic. They also highlight the importance of diversification, the role of mentorship, and insights into building a coalition of investors and assessing emerging managers. Carrie Thome and Grady Buchanan of NVNG sit down with David capital to talk about the importance of startups, and portfolio construction. They discuss the competitive landscape for talent, their transition to venture capital, and strategies at Wharf. The conversation also covers strategic investment, liquidity management, and the inception and building of NVNG Investment Partners. The episode wraps up with insights on raising a fund during COVID, network building, assessing emerging manager quality, and the value of fund of funds. (0:00) Overview of recent fundraising success and portfolio strategy (1:00) Introduction to Carrie Thome and Grady Buchanan (2:01) WARF's unique model and financial independence (3:59) Lessons learned from 18 years at WARF and mentorship (8:02) CIO role limitations and talent competition (10:56) Attraction to LP role and transition from hedge funds to VC (15:05) Strategic investment and venture portfolio evolution (19:49) Managing liquidity and deployment in venture capital (23:06) All-weather investing approach and diversification (25:32) Founding NVNG and raising a fund during COVID (29:33) Building a coalition of investors and assessing emerging managers (35:00) Importance of diversification and fund of funds insights (35:42) Sponsor: Carrier Labs