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The 10X Capital Newsletter
How to raise a venture capital fund, Rabois returns to Khosla, Pitchbook's new IRR data, and much more.
The Limited Partner podcast is a podcast focused on limited partners where co-hosts David Weisburd and Erik Torenberg discuss venture capital through the lens of limited partners.
By popular demand, we’ve launched the Limited Partner newsletter, which offers this week’s venture capital and limited partner news in digestible news bites delivered straight to your email.
The world of LPs is notoriously secret and private, but on this show, influential limited partners, VCs, and investors speak candidly about venture capital in 2024 and how LPs are navigating the asset class today.
Today’s Agenda 📋
🗣 What Investors Are Saying
💰 Who’s Raising?
🗞 Venture Capital News
✍️ Top Posts of the Week
📈 Chart of the Week
🔧 Emerging Manager Tools
✅ Emerging Manager Do’s and Don’ts
Recent episodes 🎙
"The Limited Partner" with David Weisburd and Erik Torenberg | Startups, Venture Capital, and Limited Partners:
What investors are saying 🗣
🎙 Gale Wilkinson, Founder of VITALIZE Venture Capital, on how to raise a venture capital fund.
“At a high level, LPs are looking for at least a 3X net return on their capital invested. This corresponds to a VC performing in the top quartile. Some LPs will tell you that early-stage funds should at least return 5X net, corresponding to the top decile.
More specifically, LPs tend to look at a GP’s strategy, team, deal flow network, and ability to outperform when they make their go / no go decision on a fund.”
🎙 Seema Amble, Partner at Andreessen Horowitz, on how to break into VC.
“The main piece of advice is to start doing the job before you get it – have a point of view on what companies you would invest in and why (or if you have the means, angel invest). Share your theses actively with firms and don’t send emails just asking for a general coffee catch-up. People are more likely to engage if they know you have something substantive to talk about!”
🎙 Olivia O’Sullivan, Partner at Forum Ventures, on how managers can execute a platform strategy to attract and win allocation in deals.
“For Platform Managers, devising a strategy for 2024 must involve a nuanced understanding of the current landscape and the implications for funds. Before you get to setting the strategy, it’s important understand what success looks like.”
Who’s raising? 💰
Venture capital news 🗞
Top posts of the week ✍️
I keep getting hit up by recruiters for VC roles at firms undergoing "generational transitions."
The shakeup happening in the VC world right now is very real.
— Yuri Sagalov (@yuris)
10:25 PM • Jan 9, 2024
"In order to break through and create new social applications in the age of AI, we need to get weird."
usv.com/writing/2024/0…— USV (@usv)
7:41 PM • Jan 10, 2024
Chart of the week 📈
Emerging manager tools 🔧
AngelList for fund administration
Get in touch by emailing the team at [email protected].
Tactyc for forecasting and planning
Please reach out to [email protected] for a personalized demo.
Chris Harvey for fund counsel
Reach out to Chris at [email protected].