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#OpenLP: An Initiative of Sapphire Partners

APRIL 2023

The latest perspectives from #OpenLP, a resource for the venture community to hear from a diverse group of LP and GP voices.

LP & GP Voices

Leila Zegna

Associated Podcast: How to Raise a Venture Fund with Leila Zegna

Francesca Baillieu & Tunde Adekeye

Associated Podcast kicked off season 8 with Kindred Capital VC Founding Partner Leila Rastegar Zegna to talk "How to Raise a Venture Fund" with Francesca Baillieu and Tunde Adekeye.

Associated Podcast
AngelList Graph

When Can We Expect Venture Performance to Bounce Back?

Abe Othman

AngelList data on lagged market correlations suggest VC recovery may be delayed until 2024.

AngelList
20MinVC

The Twenty Minute VC: Fundraising Lessons with Tomasz Tunguz

Harry Stebbings

Tomasz Tunguz joined The 20 Min VC podcast to share his VC fundraising story as solo GP with Theory Ventures and discussed his 150 LP meetings, 15% close rate, creating urgency in fundraising and $230M closed. 

20VC
Frank Rotman

Structural Flaws in the VC Ecosystem

Frank Rotman

QED's Frank Rotman shares an insightful mental model about the structural wrinkles in the current VC funding progression. His thoughts on non-consensus investments, truth tellers & “first-chapter specialists" marketing to readers who specialize in the middle chapters.

@fintechjunkie

From the Creators of #OpenLP

Capital Calls Graph

New Data on Capital Calls

Laura Thompson & Evan Tarzian

Everyone's talking about the VC pacing slow down, but less so on how this correlates to capital calls. Laura Thompson and Evan Tazian dug into Sapphire Partners' emerging manager data and the findings are eye-opening.

Sapphire Partners
Origins Podcast

Origins x OpenLP Podcast: 

Nick Chirls & Beezer Clarkson

Co-hosts Beezer Clarkson (Partner, Sapphire Partners) and Nicholas Chirls (Partner, Notation Capital) speak with Accolade Partners' Managing Partner Atul Rustgi about how the state of the market has impacted investment decisions: What LPs are looking for, metrics that matter, product market fit and more.

Origins Podcast
Laura Thompson

Opportunity Funds Fall From Favor as VCs Go Back to Basics

Marina Temkin

PitchBook News' Marina Temkin spoke with Sapphire Partners' Laura Thompson and AHOY Capital's Chris Douvos for their LP perspectives on opportunity funds in an inopportune time.

PitchBook News

VC Deep Dives

VC Human Capital Survey

VC Human Capital Survey

Deloitte, Venture Forward & NVCA

What does the VC industry workforce look like in terms of demographics? What is the current state of VC DEI? The VC Human Capital Survey, powered by Deloitte, Venture Forward, and the NVCA, answers these questions for VC firms seeking to expand DEI within both their teams and portfolio companies.

Fourth Edition

What We're Reading This Month

Broken Dollar

The Looming Layoffs for Venture Capitalists

Kate Clark

With the shrinking appetite of LPs and many firms likely raising smaller funds, The Information suggests more VC layoffs are coming as resources are taken away to maintain headcount from the bull run.

The Information
Vesey Ventures

Early-Stage Fintech Startups Just Got a New Funding Source

Mary Ann Azevedo & Christine Hall

Vesey Ventures was founded by three female former managing directors of Amex Ventures who recently closed a $78 million debut fund. Vesey’s self-described mission is to back companies “transforming financial services” at the seed to Series B stages.

TechCrunch
LinkedIn
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OpenLP is an initiative of Sapphire Partners, the LP arm of Sapphire Ventures. Sapphire Partners is focused on partnering with exceptional

early-stage venture funds in the US, Europe and Israel.

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Nothing presented within this article is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Information provided reflects Sapphires’ views as of a time, whereby such views are subject to change at any point and Sapphire shall not be obligated to provide notice of any change. No assumptions should be made that any investment listed above were or will be profitable. Various content and views contained within this article represent those of third party guests, which do not necessarily reflect the views of Sapphire. Such views are subject to change at any point and do not in any way represent official statements by Sapphire.Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in any statement made. Nothing contained in this article may be relied upon as a guarantee or assurance as to the future success of any particular company. Past performance is not indicative of future results.