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The 9 Steps of Using Technology to Improve Investing in Private Companies: How Private Equity and Venture Capital Investors Are Eating Their Own Dogfood

Private equity and venture capital investors are copying our sisters in the hedge fund and mutual fund world: we’re trying to automate more of our job.  But we’re doing it slowly.VCs tout themselves as frontier technology investors, but most are using the same infrastructure tools they have used [...continue reading]

How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm

It’s hard enough to get a job at a venture capital or private equity firm; it’s even more complex to join as a Partner.  I thought it would be helpful to put together some notes on market norms and issues to consider in negotiating a partnership at an institutional investment firm.  These are many [...continue reading]

How to Identify Technology Trends for Macro Investors

I recently spent time with a hedge fund manager who asked for counsel on how he could identify macro trends (especially technology macro trends) which he could use to generate investment ideas.  The deck below summarizes my recommendations.  This overlaps with my research on origination for private [...continue reading]

Artificial Intelligence in Financial Services

I’ve presented at a few conferences lately on AI in financial services, particularly on how investors are using AI.  I’ve posted here an expanded version of my slides.  I provide an overview of why AI is a tool that so many people are exploring; what I think increases the odds of success for [...continue reading]

Introduction to the New York Fintech Community

I recently met with a friend who’s a senior executive at a large investment management organization.  She said, “fintech is really interesting, but I don’t have a clue as to how to get started.”  So I shared with her my notes on who the players are in the ecosystem.  If there are additional players [...continue reading]

Get the Final Draft of Our Paper on Disruption of the Asset Management Industry

I’ve mentioned previously that I’m working on a research study on disruption of the asset management business.  We are now sharing the final draft of our research study  with reviewers.  If you’d like to take a look, please send me your email ASAP.  My co-authors are Katina Stefanova (former [...continue reading]

Seeking Investors to Participate in Study on Innovation in Asset Management

I’ve written in the past on how the investing industry is overdue for innovation.  I’m now launching a research project to better understand the emerging investment opportunities. We are seeking Partner-level investment professionals at hedge funds, mutual funds, VCs, sovereign wealth funds, pension [...continue reading]

Design Your Company Culture Like The World’s Largest Hedge Fund

Ray Dalio, Founder of Bridgewater Associates, the world’s largest hedge fund, is a man after my own heart.  A few years ago he publicly set down his core Principles for living, managing, and investing.  Bridgewater uses these codified rules for recruiting, training, and most important, managing the [...continue reading]

How To Disrupt The Investing Business, With Katina Stefanova (Ex-Bridgewater Management Committee)

I had a conversation recently about the investing business with Katina Stefanova, who recently left Bridgewater, the largest hedge fund in the world. I’ve always had great respect for Bridgewater, which unlike most investing organizations realizes just how critical processes and culture are to [...continue reading]

How Startups are Disrupting Financial Technology

I participated in the Milken Institute Global Conference last week, for the first time.  It was very worthwhile, a chance to connect primarily with other investors (mostly public markets/private equity), and a range of other people (media, tech, academics, etc.)   I definitely recommend attending if [...continue reading]

Why Some Investors Are Happy with Lousy Returns

My recent post on “Asset Management is a Peculiar 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 [...continue reading]

Where are the Deals? How VCs Identify the Next Generation of Winning Companies

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]

Asset Management Is a Peculiar 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 shows the traditional earmarks of an industry ripe for disruption -- most obviously, unhappy customers and extremely profitable incumbents.  Despite this, it’s [...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]