E76: How FirstLook Picks the Top 10% of Venture Funds

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.

E76: How FirstLook Picks the Top 10% of Venture Funds

E76 • Jul 11, 2024 • 24 mins

Josh Porter, Co-Founder & General Partner at FirstLook Partners, sits down with David Weisburd to discuss FirstLook’s process for evaluating and selecting emerging managers. They also cover typical terms for co-invest, managing conflicts of interest, and the importance of strong personal relationships in venture capital.

Key Points

Building strong relationships with LPs is crucial, as they are fundamentally the customers in the venture capital business.
Maintaining a proactive and thorough diligence process, including extensive reference checks and in-person meetings, is essential for successful investments.
Personal tragedies and life experiences can profoundly influence one's approach to investing, emphasizing the importance of relationships and trust in this field.

Speakers

Josh Porter

Guest • 91%

David Weisburd

Host • 9%

Chapters

0:00	Importance of communication with LPs and First Look strategy
1:13	Ideal co-investment deal dynamics and proactive process
4:33	LP base profile and addressing conflicts of interest
6:24	Josh Porter's background and investing philosophy
10:15	Trust and competence in GP/LP relationships
12:15	Trust and reference checks in the emerging manager space
14:27	Diligence process and measuring commitment
19:01	Value provision to non-funded managers
20:18	Team expansion and desired qualities
21:34	Key learnings and balancing fundraising with investing
22:23	Importance of LP relationships and closing thoughts
23:36	Call to action and subscription reminder

Transcript

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