As usual, read below for the latest news and perspectives from OpenLP, a resource for everyone in the venture community to hear from a diverse group of LPs, all investing in venture funds.
Latest Posts
The Danger of Venture Capital ‘Foie Gras’
Check Warner and Tom Wilson
How much is too much for a startup to raise? “Venture foie gras” - ie. when VCs force feed or “stuff” a company with funding until it chokes, is a new term to capture this dynamic.
VC Market Dislocation: The Fundamentalists vs The End Marketers
Semil Shah
Various go-to-market strategies among VC firms are starting to lead to a bifurcation in the VC market. Here's how "fundamentalists" and "end marketers" approach things.
This incredible tweet thread from Hustle Fund's Elizabeth Yin dives deep into LP investing, touching on capital calls, fund recycling, crowdfunding, innovation in legal structures and more.
This interactive tool from Kauffman Fellows explores venture portfolio construction and the various tradeoff implications a GP must consider. It enables you to construct your own portfolio to understand how various assumptions impact returns to LPs and GPs.
How VC and private equity funds can launch portfolio-acceleration platforms
David Teten
Almost every private equity and venture capital investor now advertises that they have a platform to support their portfolio companies. You can’t pick a platform strategy that’s unique, but you can pick a platform strategy that your firm can uniquely execute.
This guide defines what a syndicate is, how to work with syndicates, and why you should consider them as part of your fundraising journey as an organizer, an investor, or a founder.
The LP Perspective: Building an Institutional LP Base
Carta
This Carta-hosted panel discussion with Greenspring Associates, Illinois State Treasurer, and Barings shares perspectives from LPs on how they source, evaluate, and work with emerging fund managers and how managers can effectively navigate taking on institutional capital.
Wondering how venture terms (management fees, carry, portfolio construction, LP minimums) have changed given the chaos of 2020? This year’s “State of Terms” sheds light.
Ted Seides discusses the Yale Investment Office, Dave Swenson, asset allocation, rebalancing, asymmetry, ESG, diversity and inclusion, comfort being different, and crypto.
OpenLP is an initiative of Sapphire Partners, the LP arm of Sapphire Ventures. Sapphire Partners invests in early-stage, technology-focused venture funds from an evergreen-like capital structure.
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