Origins - Inside Venture Capital, Hosted by a GP and an LP

Laura Thompson, a Partner at Sapphire Partners and co-founder of OpenLP, shares her venture capital expertise during a lively discussion with host Beezer Clarkson. They delve into Jessica Archibald's analytical methods for defining franchise success, emphasizing the unique challenges of succession planning. The duo explores the art of delivering both good and bad news to foster a performance culture. They also consider Archibald’s unconventional grading system for funds and its potential adoption at Sapphire Partners, prompting a broader conversation on effective fund evaluation.

Jessica Archibald, a GP at Top Tier Capital Partners and expert in fund management, joins to discuss the nuances of franchise funds. She highlights the significance of reliable DPI metrics and the value of consistent returns over flashy numbers. Archibald delves into the critical aspects of succession planning and how it affects fund stability and franchise status. The conversation also covers communication dynamics between fund managers and LPs, emphasizing trust-building for long-term success.

Laura Thompson, Partner at Sapphire Partners and a vet in venture capital, joins Beezer Clarkson to dissect what makes franchise funds tick. They explore the differences in franchise hallmarks between GPs and LPs, and ponder whether consistency in performance really suffices. Parallels with sports franchises illustrate branding's critical role. The duo also examines how access to top founders can translate into superior returns and the intricate dynamics of managing talent and fees. It's a deep dive into strategic thinking in venture capital!

Stephen Bluestein, a partner at Adams Street Partners with a rich history in venture capital, shares insights with LP Beezer Clarkson. They explore what defines a franchise fund and the intricate process of achieving that status. Topics include the essential performance metrics needed to qualify as a franchise and the necessary adaptability for ongoing success. Bluestein emphasizes the importance of intentionality and maintaining a strong brand. This conversation is a treasure trove for anyone looking to understand the nuances of venture capital.

Nick Chirls, GP at Asylum Ventures,  and Beezer Clarkson, LP at Sapphire Partners go deep into their recent conversation with Wesley Chan, the Co-Founder and Managing Partner of FPV Ventures. They unpack Wesley’s direct learnings from Sergey Brin coming up at Google, how it is the job of the investor to spot greatness, his views on company pivots (and how they oppose another recent guest, Mike Maples’ views on pivots), the difficulties of thinking independently in Silicon Valley, and the serendipitous way Wesley and Sapphire Partners wound up working together in the first place. Plus Nick, it turns out, is kind of a tax guy. He and Beezer discuss the hidden benefits of being an expert on QSBS. Learn more about Sapphire Partners: sapphireventures.com/sapphire-partners Learn more about OpenLP: openlp.vc Learn more about Asylum Ventures: asylum.vc Learn more about FPV Ventures: fpvventures.com Read Laura Thompson’s article on QSBS: sapphireventures.com/blog/how-lps-gps-and-founders-can-leverage-qsbs-to-make-more-money/ Listen to Mike Maples & Jai Das discuss pivots: open.spotify.com/show/23H0tOX63xMChV2SErQKnZ?si=a9aab8b3e4c34dde Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.

Wesley Chan, co-founder of FPV Ventures and former Chief of Staff to Sergey Brin at Google, shares his remarkable journey in Silicon Valley. He reflects on his mantra that if you're not changing the world, you're wasting your time. Wesley discusses the importance of high standards in innovation and his philosophy on seeking founders with 100-year plans. He emphasizes fostering long-term impact over short-term gains and the significance of trust in the venture capital-founder dynamic. His insights illuminate what it takes to craft timeless ventures.

Two seasoned venture capitalists delve into the pivotal roles of team dynamics and strategic pivots in startup success. They explore the crucial question of what changes and what remains constant in seed versus growth investing. Key discussions include the value of customer insights and the balance between innovation and competition. The importance of timing and understanding market nuances also takes center stage, emphasizing that at its core, venture capital is about backing the right people.

Jai Das, President and Partner at Sapphire Ventures, is a veteran in enterprise investing with a portfolio that includes Box and Square. Mike Maples Jr., co-founder of Floodgate, is a pioneer of seed investing with successes like Twitter and Lyft. They discuss their contrasting focuses in venture capital and the challenges of identifying future winners. The conversation dives into how AI reshapes investment opportunities, the importance of adaptable management teams, and navigating exit strategies in a shifting market.

A look at what’s to come on a brand new season of Origins, where we’ll dive into the VC ecosystem with the people who know it best, to learn how the people behind the capital really make decisions. Learn more about Sapphire Partners: https://sapphireventures.com/sapphire-partners/ Learn more about Asylum Ventures: asylum.vc

Jack Altman, a former VC-backed founder turned angel and institutional investor, shares insights into his dynamic journey in venture capital. He discusses the transition from using personal capital to managing LP dollars, revealing where he feels confident taking risks. The conversation highlights the founding philosophy of Asylum Ventures, which emphasizes treating founders as artists and fostering genuine relationships. Additionally, they touch on the rise of podcasts in industry communication and the innovative community events blending art and entrepreneurship in New York.