^^^ Wondering the same. Read the FAQ but still interested in the risk management philosophy.
Also interested how you guys get paid. Did you raise a fund? Are LPs mostly HNWs? Any institutions? Is the investment horizon of the fund similar to a typical VC fund?
And finally, I would imagine your SEA gets negotiated on a deal by deal basis if a portco raises more traditional VC? I'm curious what a series A looks like when there's a SEA in place that hasn't reached its return cap.
It's a fund. Our basic bet is that way fewer companies will fail than a traditional seed VC portfolio (tons of reasons but not forcing them to hit growth targets that they need to show to raise the next round is one). A portfolio of this kind of businesses should be in the top quartile of venture funds (not actually that hard of you look at the numbers) with lower concentration of risk and faster liquidity.
Cool, thanks for the reply. Doesn't look like you have any professional investment management experience. What was the most difficult part of raising the fund? How long did it take?
