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.
E88: Lessons from Investing in 81 Venture Capital Funds - Dave Neumann
Dave Neumann, investor at Molten Ventures, sits down with David Weisburd to discuss fund of funds deployment strategies, how GPs should approach fund size and interesting power law data derived from Molten’s 2,500 underlying portfolio companies.
Key Points
- Fund managers tend to be most hungry in their first fund and most savvy by their third or fourth fund.
- A significant portion of a fund's returns is concentrated in a few top-performing companies, with 60% of funds dropping to 1x or below if their top five companies are removed.
- The success of a venture capital firm relies heavily on its organization around follow-ons and exit strategies, in addition to the hunger and savviness of its managers.
Chapters
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Transcript
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