eqwefy’s Post

The "Yale Asset Allocation Model" has led a lot of pension/endowment/foundations to invest into venture capital. More $s into the venture capital asset class have allowed companies to stay private for longer (...why go public if you can access as much capital as you need when private). Private for longer means less distributions (less liquidity) for pension/endowment/foundations. Hence the rise in the private pre-IPO stock market (secondary market trading). Sell in the secondary and realize returns and raise cash. My opinion, this is a natural market evolution of a growing asset class. VC isn't broken, its growing and there will be natural growing pains as the asset class grows and more (and different types) investors participate. Embrace the change. If you're a pension/endowment/foundation and need cash sell your LP positions in the secondary. If your a VC and your LPs want liquidity, sell some of your positions in the secondary (e.g. be a portfolio manager!). If your a VC-backed company and electing to not IPO, offer structured tender offerings (e.g. every 6 months, every 12 months) so your investors can get liquidity/invest more and new investors can invest, now that your company has a "safer" risk/adjusted return profile. Liquidity challenges lead to market participants developing financial solutions ... capitalism at its finest. Peter Walker Clint Sorenson CFA, CMT Nick Fusco Michael Jackson

Pleased to share completion of the Startup Funding and Investment Strategies course from Imperial College Business School. The curriculum's rich content, insightful case studies, and engaging dialogues with finance experts from the cohort have deepened my grasp of venture capital terminology, procedures, and key performance indicators. Looking forward to implementing these learnings! #InvestmentStrategies #VentureCapital #FinanceProfessional

“Each year we have, quietly, members of wealthy families who are next-generation managers of the family wealth coming through the school, showing a keen interest in learning about the venture capital space and technology investing and business models,” says adjunct professor Chris Carder of Toronto's Schulich School of Business - York University. #familybusiness #familyoffice #familyoffices #wealth #education #university #FEA #FEC #FELI #venturecapital #VC #venturecapital #wealthmanagement #privatecapital #altinvestment Canadian Family Offices

In our Stanford University Graduate School of Business VC class, Brian Jacobs and I love simulating the actual environment of VC partnerships. Recently, we had students analyze investment memos for YouTube (by Roelof Botha, Sequoia Capital), Zoom (by Santi Subotovsky, Emergence Capital), and Twitch (by Ethan Kurzweil, Benchmark ). We set up a mock VC partnership meeting with six students debating these investments. Little did they know, the actual VCs behind these deals were observing from the back of the room! After the big reveal, we invited Roelof, Santi, and Ethan to join the discussion, providing invaluable feedback and advice. Here are some key takeaways: • Aspiring VCs should ask themselves, "Why me?". What unique value can you offer to founders and investors?  • VC isn't all glamour. It's hard work, often without holidays, and can mean taking calls during family events.  • Success in venture investing is about the prepared mind – recognizing patterns quickly, asking the right questions, finding the right comparables, and winning the right deals.    This experience gave our students a rare glimpse into the minds of leading VCs. It's these moments that bridge the gap between academic learning and real-world practice. What's your take on bringing industry professionals into the classroom? Share your thoughts below! #stanford #stanfordgsb #venturecapital #startups #privateequity #finance

IIE.VC ‘GP Subsidy Pilot’ Recipient Spotlight: The BFM Fund 🤝 Team: Himalaya Rao-Potlapally, Managing Partner; Rachel Wilson, Managing Partner 🏠 HQ: Oregon 💲SSBCI allocation: TBA 🏆 Investing primarily in Black-led series seed to series c industry-specific ventures 🌟On behalf of IIE.VC, congrats to Himalaya, Rachel and the BFM Fund! 💡 About the program: IIE.VC's GP Launch Expense Subsidy Pilot is addressing the entrepreneurial challenges emerging managers face in navigating the startup expenses of launching funds by awarding flexible subsidies of up to $50,000 to underrepresented emerging VCs. Subsidies can cover a range of launch expenses, including legal, accounting, and operating costs.

#InvestorsDilemma 🌟 Dive into the world of venture capital with Professor Ilya Strebulaev from Stanford MBA! 🚀 For 20 years, he has been at the forefront, studying Silicon Valley investors and their 'venture mindset' for successful investments. Curious about the decision models they use? Wondering how to apply them to our own lives? 🤔 📽️ Watch the short video to uncover these insights and more! 💡 Link to the video: [Watch Now!](https://lnkd.in/ej-EeM2Z) #VentureCapital #SiliconValley #InvestmentStrategies

At the Oxford Seed Fund, we love celebrating our portfolio founders. This week, we’re thrilled to highlight Savannah Price, founder and CEO of Serene and an MBA alumna of Saïd Business School, University of Oxford. 🌀 53% of UK adults show signs of financial vulnerability, but only 3% are recognised by financial service providers. A lack of focus and understanding on customer care and predictive insights has led to hefty fines amongst financial institutions, as the Financial Conduct Authority looks more and more to protect customers via heightened 'Consumer Duty' regulations. 🔎 Serene leverages AI and transaction analytics to enable banks and financial organisations to proactively identify, predict, and assist customers navigating financial challenges. Already working with leading financial institutions, the timing and value-add of this solution is especially strong and paves the way for a more considerate financial world, turning better support for the underserved into measurable business value. Top 3 reasons the Oxford Seed Fund team invested into Serene: 📈 Vast opportunity for revenue growth and genuine impact. 🌪️ Strong regulatory tailwinds uplifting innovation in this sector. 💙 A relentless founder that is totally obsessed with this problem space. Notably, our advisory board member Michael Tefula invested as an angel, amongst a number of other leading investors. Serene’s innovative approach - grounded in technology, behavioural science, and ethical finance - epitomises the power of fintech to drive meaningful change. Curious to hear more? Give Savannah a follow to stay up-to-date! ⚙️ Oxford Seed Fund is powered by the Oxford Saïd Entrepreneurship Centre and housed in Saïd Business School, University of Oxford.

As The Church of Jesus Christ of Latter-day Saints oversees its major holdings in U.S. stocks and mutual funds, filings show, it spreads billions of dollars across industries from Big Tech to real estate, from health care and banking to consumer goods. But what does it back when it’s risking money as a venture capitalist? New drugs. Oil and gas. And chumboxes. A recent settlement with the U.S. Securities and Exchange Commission made it clear the church must continue to be more transparent than it has in the past about certain holdings. That agreement — in which the church paid a $1 million penalty and its Salt Lake City-based investment arm Ensign Peak Advisors paid $4 million — was based on the requirement that any entity trading over $100 million on U.S. public stock exchanges must file quarterly public disclosures of the shares it controls and their value. But under certain circumstances, smaller venture capital investments in startups and other private companies also must be disclosed in public documents — offering a narrow glimpse into what emerging innovations or businesses draw the church’s interest. #investments #vc #venturecapital #stockmarket #bigtech By Ethan Gregory Dodge (special to The Tribune) & Shannon Sollitt

In October, the NAACP launched a game-changing initiative: a $200 million fund to support Black entrepreneurs in the venture capital space. Named NAACP Capital, this fund was created in partnership with Kapor Capital, Kapor Center, and a team of nine venture fund managers to bring real resources to Black-owned businesses and promote economic empowerment in communities of color. NAACP President & CEO Derrick Johnson put it plainly: “True innovation happens when everyone has a seat at the table. Impact investing can create financial returns and lift up communities that have been overlooked. Right now, systemic barriers are holding back the competition and innovation we need in today’s global economy.” The reality is, Black entrepreneurs have faced huge barriers to accessing venture capital and other resources that are readily available to others. In 2023, Black founders in the U.S. received just 0.48% of all venture dollars—about $661 million out of $136 billion, according to TechCrunch. This lack of funding has limited Black entrepreneurs’ opportunities to grow their businesses and build generational wealth. Johnson added, “We’re here to change that. Investment is what drives impact, and impact investing can reshape our economy for generations. It’s time to back fund managers who believe in a future where innovation and technology benefit everyone, not just a select few.” The NAACP Capital Fund will focus on investments across key areas like tech, healthcare, sustainable energy, and consumer goods, prioritizing businesses with a strong commitment to social impact. This isn’t just about profit- it will create real opportunities that make a difference in entire communities. Using a traditional fund-of-funds and co-investment strategy, NAACP Capital aims to make the venture ecosystem more equitable. Beyond just providing capital, NAACP Capital will offer resources and guidance to the fund managers and founders they work with, closing racial equity gaps and increasing representation of people of color in the tech industry. #NAACP #funding #smallbusiness #capital #blackfounders #entrepreneurship

The new quarter at Stanford University Graduate School of Business has begun! Just finished our first class of "Angel and Venture Capital Financing for Entrepreneurs and Investors" with an inspiring group of students and Brian Jacobs. It is the 12th time I am teaching this class, this year to an amazing cohort of 144 students! We kicked off with an introduction to the world of angel and venture capital investment, exploring the major players, trends, and Silicon Valley's role as an innovative ecosystem. The impact of Venture Capital (VC) is staggering: did you know VC-backed companies account for 41% of total US market cap and 62% of R&D spending among public companies? Looking forward to deep-diving into the details that founders and investors must know, from raising funds to making key decisions. Stay tuned: we'll be covering real-life cases and hearing from invited founders, angel investors, and VCs throughout the quarter. And earlier I met 72 students in "The Economics of Private Equity" that I will be teaching with Dipanjan Deb, managing partner of Francisco Partners, for the 4th time. Stay tuned for more details from that class as well! What aspects of VC and PE are you most curious about? Share your thoughts in the comments ⬇️