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.
E60: Emerging Manager Alpha At Scale with Michael Downing
Michael Downing sits down with David Weisburd to discuss emerging manager venture funds, the MDSV Capital Extension Program, and the effect of market conditions on fundraising. They also discuss the role of MDSV in the venture capital landscape, portfolio construction, LP expectations, and Michael’s background as an entrepreneur and investor. The conversation wraps up with a discussion on the importance of not overlooking emerging managers as a key part of the venture ecosystem.
Key Points
- Emerging manager funds, defined as those under $60 million, often face significant challenges in securing investments from traditional institutional investors due to minimum check size requirements and track record demands.
- The Capital Extension Program helps small fund managers continue investing in their successful portfolio companies by providing additional capital for follow-on rounds, leveraging SPVs to facilitate these transactions while sharing the carry with the managers.
- MDSV Capital is highly focused on supporting emerging manager funds and direct investments in innovative sectors like AI and defense tech, and they have created a dedicated $50 million pool specifically for their Capital Extension Program to help these managers capitalize on outlier opportunities.
Chapters
| 0:00 | |
| 0:26 | |
| 1:32 | |
| 3:21 | |
| 6:00 | |
| 7:25 | |
| 9:45 | |
| 10:23 | |
| 13:13 | |
| 16:29 | |
| 19:22 | |
| 23:21 | |
| 26:01 | |
| 27:23 |
Transcript
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