E87: Lessons from Investing in 1,400+ Startups - Jamie Biddle and Steve Kim

Jamie Biddle (Founding Partner and CEO) & Steve Kim (Partner, Investment Strategy and Risk Management) of Verdis Investment Management, sit down with David Weisburd to discuss how Verdis has managed to invest into 41 unicorns by indexing early-stage venture capital funds, how they came up with the venture index thesis, and the practical considerations of executing on their venture index strategy. They also discuss the purpose of venture in a diversified portfolio, the benefits of QSBS for taxable investors, and avoiding adverse selection in venture capital.

Speakers

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David Weisburd

Host • 17%

Jamie Biddle

Guest • 0%

Steve Kim

Guest • 46%

Jamie Biddle

Guest • 37%

Steve Kim

Guest • 0%

Jamie Biddle

Guest • 0%

Steve Kim

Guest • 0%

Steve Kim

Guest • 0%

Chapters

0:00	Episode preview
1:18	Overview of Verdis
3:18	Shifting investment focus and tax considerations in asset selection
4:39	Verdis’s approach to venture capital
5:24	Indexing early-stage venture capital
7:22	Key factors influencing venture capital returns
8:35	The role and tax benefits of venture investments in a portfolio
11:02	Performance of the venture capital index strategy
13:23	Family office dynamics
14:26	Follow & subscribe to the 10X Capital Podcast
14:47	Unicorn capture rate and venture capital power laws
16:32	Comparing generalist and sector-specific funds
18:48	Loss ratios and execution of the venture index strategy
21:10	Developing and reflecting on the venture index thesis
25:45	Key learnings from Verdis & investing as a family office
26:52	Practical constraints on over-allocating to venture
29:39	Closing remarks

Transcript

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