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Limited partners feel zero FOMO about venture capital
Press Space to continue
Some takeaways from LPs at RAISE: - With everyone widening their mandate into AI, every pitch sounds identical. True portfolio concentration is the only thing standing out. - The person taking your meeting is usually an analyst who will not be at that firm when your DPI shows up. Give them something that pays off this year. An intro, a co-invest, help getting promoted. DPI gets you the next fund. Being useful now, gets you this one. - When an LP can pick freely between asset classes, venture…
MeghanKReynolds@MeghanKReynolds8h ago
Heard from VC LPs this week. It was our AGM, so I had a ton of convos. Theme is liquidity and differentiation. Some quotes 👇🏻 - “we see a huge difference btw the posture of the GPs who do public + private and those that just do VC/Growth. They are living in different realities.” - “every GP is raising again faster than we thought, either because they just blew through the money, or because they want a war chest for when the market trips over itself” - “Across the top GPs, everyone is in market. TVPIs look amazing - differentiation is DPI, concentration and portfolio mgt” - “We really need the PE guys to start selling some stuff!!” - “If Anthropic IPO goes great, we are worried it sets the bar too high for everyone else. And if it doesn’t go great, then the bar is even higher…”