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.
E29: Lo Toney, Plexo Capital on How He Raised Capital from Google, the Ford Foundation, Mass Mutual
David Weisburd interviews Lo Toney about his transition from angel investor to fund manager, his role at Plexo Capital, and his approach to working with founders. They discuss the importance of patience in early-stage investments, the diligence process for managers, and the strategy behind selecting LPs. We’re proudly sponsored by Bidav Insurance Group, visit lux-str.com if you’re ready to level up your insurance plans. The Limited Partner podcast is part of the Turpentine podcast network. Learn more: turpentine.co
Key Points
- Evaluating young VC firms involves assessing whether GPs adhere to their stated strategies, such as investment cadence, check size, and ownership percentage goals, rather than relying solely on IRR in early fund life stages.
- Successful fund managers often possess a non-consensus viewpoint, an ability to identify outliers, and a background in operational roles that provides them with a unique perspective and empathy when working with founders.
- The GPX program, inspired by Y Combinator, offers emerging fund managers educational content and cohort experiences to facilitate their transition from investors to skilled fund managers, aiming to support them in forming, raising, and managing venture funds.
Chapters
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Transcript
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