E20: James Heath, dara5 on How Family Offices Access Top Venture Funds

Key Points

• The belief in smaller funds, defined as those between $75 million to $250 million, is emphasized, with the intention to hold a significant but non-cornerstone LP position of 5-10% to foster close relationships and co-investment opportunities.
• James learned the importance of understanding a founder's motivation, favoring those who have experienced the problem their business addresses firsthand, as this drives obsession and resilience through the inevitable challenges of startup growth.
• The concept of investing in private markets with a public market level of information is explored, leveraging data and relationships with GPs to gain insight into a large number of private companies, aiming to make more informed investment decisions.