Venture Unlocked: The playbook for venture capital managers

In this conversation with Nakul Mandan, founder of Audacious Ventures, listeners dive into the nuanced world of seed stage investing. Nakul shares his journey from India to venture capital, shedding light on the evolution of the industry since 2010. He emphasizes the importance of blending ambition with empathy in team building and the necessity of innovative systems for success. The discussion also highlights the value of qualitative metrics like shipping velocity for assessing startups, revealing strategies to navigate today's competitive landscape.

Samir Kaji, Co-founder and CEO of Allocate, delves into the current challenges facing fund managers in private markets. With a staggering growth in private investment firms, he discusses the tough fundraising climate and the high mortality rates for new funds. Kaji highlights the evolving role of secondaries, SPVs, and AI in transforming fund analysis and capital management. He also addresses how the risk profiles of different fund sizes impact their success, stressing the need for resilience and innovation in today’s venture landscape.

In this engaging conversation, Logan Bartlett, Managing Director at Redpoint Ventures, shares his insights on the shifting landscape of venture capital. He discusses the challenges unicorns face post-2021, highlighting the risks of stagnation and the emergence of 'zombie' companies. Bartlett also emphasizes AI's disruptive potential, showcasing success stories that leverage this tech for growth. He underscores the importance of identifying adaptable founders and navigating market complexities, redefining what it takes to thrive in today’s investment environment.

Villi Iltchev, Founder and Managing Partner of Category Ventures, shares his journey from leading roles at tech giants like Box and Salesforce to launching his own early-stage venture firm. He discusses the challenges and strategies for succeeding in a crowded VC landscape, emphasizing the importance of authenticity and personal relationships with founders. Villi also explores the intricacies of hiring in the field, balancing technical skills with personality traits. His insights reveal the dynamics of early-stage investing and the artistry behind making informed venture capital decisions.

Victor Lazarte, a General Partner at Benchmark and co-founder of the billion-dollar Wildlife Studios, shares insights from his leap from gaming to venture capital. He discusses Benchmark’s unique philosophy of fostering deep partnerships and making fewer, high-impact investments. Victor reflects on his entrepreneurial journey, the evolution of mobile gaming, and the critical role of VC in tech innovation. He also explores the rapid evolution of AI, emphasizing the need for sustainable growth amidst new technologies.

Tomasz Tunguz, Founder and General Partner of Theory Ventures, dives into the transformative power of AI and its implications for both venture capital and everyday life. He highlights the significant cost reductions in AI training, debates the benefits of open versus closed-source models, and discusses the rise of AI applications. Tomasz also shares insights on navigating investment challenges in this rapidly evolving landscape and addresses AI's potential to reshape employment while balancing the need for sensible regulation.

Zal Bilimoria, Founding Partner of Refactor Capital, shares his journey from tech titan to venture capitalist. He discusses the unique challenges of being a solo GP and emphasizes the importance of strong founder relationships. Zal explains his philosophy behind maintaining a $50 million fund, aligning strategy with investment integrity. He delves into the nuances of managing investments amid evolving market dynamics, such as the impact of AI on decision-making. His passion for technology and sustainability shines as he navigates the future of venture investing.

Brian Ascher, a Partner at Venrock with nearly 30 years in venture capital, shares insights from his impressive journey. He discusses how Venrock has adapted since its inception in 1969, focusing on modern challenges and strategies in tech and healthcare investing. Brian explains the significance of team collaboration in decision-making and the challenges of higher fund sizes. He also delves into navigating inflated valuations and the transformative potential of AI, making this conversation both timely and inspiring for aspiring investors.

Gaurav Mathur, Partner at Pinegrove Capital Partners and former Goldman Sachs veteran, discusses the evolving landscape of venture capital. He addresses the increasing importance of liquidity solutions as companies remain private longer. Gaurav shares insights on continuation funds, strip sales, and the role of technology in enhancing transaction transparency. He highlights how these innovations align the interests of general and limited partners while adapting to the shifting dynamics of the venture market.

In this engaging discussion, Kristina Shen, Ethan Kurzweil, and Mark Goldberg, co-founders of Chemistry Ventures, share insights on launching a new venture firm with a focus on strong team dynamics. They emphasize the importance of building meaningful relationships with founders and navigating the complexities of venture capital. The trio dives into their rigorous co-founder dating process, ensuring cultural alignment, and addressing uncomfortable truths early on. They also discuss the unique advantages of new ventures in supporting early-stage startups and fostering collaborative partnerships.