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.
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.
Key Points
- Venture capital's power law dynamics mean a small percentage of investments drive the majority of returns, making it crucial to capture early-stage outliers.
- Virtus employs a data-driven, index-like approach to venture investing, emphasizing early-stage and geographically advantageous opportunities, particularly in California.
- For long-term, taxable investors, venture capital offers unparalleled compounding benefits, but requires patience and a tolerance for illiquidity to realize its full potential.
Chapters
| 0:00 | |
| 2:05 | |
| 5:02 | |
| 7:22 | |
| 9:56 | |
| 12:49 | |
| 16:02 | |
| 19:22 | |
| 21:10 | |
| 23:12 | |
| 24:22 | |
| 26:52 | |
| 28:40 |
Transcript
Loading transcript...
- / -