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.
E68: The Smithsonian Institution’s Venture Capital Edge
Jeff Smith, Managing Director of Private Investments at the Smithsonian’s endowment, sits down with David Weisburd to discuss the Smithsonian endowment’s advantage in accessing the best managers in venture capital. They also discuss the importance of continually allocating throughout cycles, knowing when to exit, and communicating effectively with LPs. They conclude by covering what Jeff looks for when evaluating new venture managers.
Key Points
- Institutional investors like the Smithsonian endowment lean heavily into venture capital due to its potential for high returns and the brand advantage they possess in accessing top funds.
- Startup experience provides LPs with critical insights into market exuberance and the pitfalls of rapid capital deployment, highlighting the importance of partnering with experienced managers.
- Effective GP relationships are built on regular communication, transparency regarding portfolio progress, and the strategic alignment of interests, including considerations of fund size and management fees.
Chapters
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Transcript
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