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Which Investors Are Glad To Pay For Mediocre Performance?

My recent post on “Asset Management is a Bizarre Industry Ripe for Disruption” got one of the most interesting reactions I’ve received.  Among the more thoughtful respondents was Terri Chernick, Chief Investment Officer, The Koffler Group.  We had an email conversation about the rationality, or lack [...continue reading]

Where are the Deals? How VCs Identify the Next Generation of Startups

You’ve probably read dozens of articles about how to raise capital from venture capitalists. However, as a VC, we have the opposite problem: how do we find companies in which to invest? It might appear that origination is becoming much easier because of new tools like AngelList and the SEC moving [...continue reading]

How to Prepare For and Run a Startup Board Meeting

After spending quite a bit of time in board meetings, I worked with a NYU student team earlier in 2012-13 to prepare a template for board presentations to investors. In the deck below, I include our best practices on preparing for, running, and closing up on a board meeting, including what to [...continue reading]

Asset Management Is A Bizarre Industry Ripe For Disruption

Since I became an institutional investor, my #1 learning is: this is a highly unusual and somewhat baffling industry.  Asset management also shows the traditional earmarks of an industry ripe for disruption -- most obviously, unhappy customers and extremely profitable incumbents.  Despite this, [...continue reading]

Turning the Tables: How to Make Venture Capitalists Pitch You

I’m returning to Capital on Stage this fall in New York. Last year, 19 other VC fund Partners and I pitched to 170 attendees; this year the conference organizers expect a similar turnout. You can see online my own pitch and all the other VCs pitching last year in NY  . To attend, apply via the [...continue reading]

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Private Equity and Social Media

I’m giving a talk next month on “How Private Equity Funds Raise Capital and Source Deals with Social Media” at Terrapinn’s Private Equity Latin America & Real Estate Latin America conference in Miami.  I discuss this topic in more depth in an earlier article I wrote. Here's my draft [...continue reading]

Helping Startups Hit a Home Run, VC Style

  Lots of venture capitalists claim to add value to the companies in which they invest.  But how do they do it?  And does it really produce better returns for their investors?   My coauthors and I just published in the Journal of Private Equity the first-ever research study on [...continue reading]

High Returns On A Small Fund Challenge Low Returns On A Big Fund

I previously posted this on Techcrunch. Let’s say you decide to invest in a VC fund.  Congratulations: you’re now supporting the least unpopular part of the investing industry.  That said, how do you avoid suffering the poor median returns the industry is known for? Assuming you have a large [...continue reading]