E42: 6 Hard Questions You Should Ask LPs When Raising Your Venture Capital Fund with Katie Riester

10X Capital Podcast

The 10X Capital podcast interviews the world's premier institutional investors to deliver insights on how they manage their capital. Interview topics include investment decision frameworks, capital allocation strategies, GP/LP relationships and many more.

E42: 6 Hard Questions You Should Ask LPs When Raising Your Venture Capital Fund with Katie Riester

E42 • Feb 15, 2024 • 31 mins

Katie Riester, Managing Director at Felicis sits down with David Weisburd to discuss venture capital fund strategies, building relationships with GPs, and the math behind venture capital. They discuss the importance of clear communication with LPs, common red flags, and advice for new LPs.

Key Points

Understanding the LP's background and investment preferences is crucial for effective engagement and long-term relationship building.
It's important for GPs to communicate clearly and transparently with LPs, especially when adapting strategies or facing challenges, to maintain trust and alignment.
Investing in a fund of funds or a diversified basket of funds can be a strategic entry point for new LPs to learn about the venture capital landscape and spread risk.

Speakers

Katie Riester

Guest • 76%

David Weisburd

Host • 24%

Chapters

0:00	Introduction to Katie Riester and understanding your LP
2:43	Ownership and fund of funds strategy at Felicis
5:32	Building GP/LP relationships and managing expectations
9:55	Strategies and pitfalls in fund management
11:18	Sponsor: Deal
14:26	Reasons for not re-upping and addressing LP concerns
20:05	Best practices in GP/LP communication
23:47	Understanding and meeting LP perspectives and needs
26:38	Advice for new venture capital LPs and common mistakes
29:11	Motivations and joys of working with GPs and LPs
31:15	Closing remarks and thank you

Transcript

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