I stopped managing external capital about a decade ago so I could focus on compounding internal capital.
But the nature of Venture Capital is that VC funds take many years to be fully realized.
I’m at the tail end of that journey so am sharing the latest summary from Q2. I will hopefully wind down these funds in the next year or so and close this chapter.
My learnings for GPs and LPs:
1. Reporting should be simple and obvious.
2. Net DPI is all that matters. Optimizing for returns creates discipline and discipline will save you in the bad times.
3. You must compare yourself to the Cambridge Index. It’s fuel if you want to be a 🐐.
But the nature of Venture Capital is that VC funds take many years to be fully realized.
I’m at the tail end of that journey so am sharing the latest summary from Q2. I will hopefully wind down these funds in the next year or so and close this chapter.
My learnings for GPs and LPs:
1. Reporting should be simple and obvious.
2. Net DPI is all that matters. Optimizing for returns creates discipline and discipline will save you in the bad times.
3. You must compare yourself to the Cambridge Index. It’s fuel if you want to be a 🐐.
