The 10X Capital Podcast
The 10X Capital Podcast is a podcast that interviews the world's leading institutional investors. Previous guests include The Ford Foundation, Northwestern University Endowment, CalPERS, Stepstone, and other top limited partners.
E30: Alan Feld, Co-Founder of Vintage Investment Partners on How to Handle Succession in VC
Alan Feld sits down with David Weisburd to talk about his experience founding Vintage, the significance of product-market fit in VC, and how Vintage has thrived over two decades. They discuss the impact of personal history on investment decisions, building an enduring VC firm culture, and engaging with General Partners. They also touch on successful GP cultures, investment allocation, and VC-LP relationship transparency.
Key Points
- LPs should seek venture funds that have a strong track record of attracting exceptional entrepreneurs, as a few successful companies typically drive the majority of returns in a venture portfolio.
- Venture capital firms should practice humility and honest self-reflection, learning from both successful and unsuccessful investments to improve decision-making and foster a culture of responsibility and growth.
- For venture funds, concentration in a limited number of high-conviction investments can be more effective than widespread diversification, as outsized returns are often generated by a small percentage of companies that become significant winners.
Chapters
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Transcript
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