A few words from LIQUIDITY SUMMIT 2024 on finding your ideal LP persona and going after what works to successfully raise a fund as an emerging manager.
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How to target the right LPs for your venture fund Just like founders, venture capitalists are also eager to move past fundraising and focus on the real work. However, raising a venture capital fund—where VCs secure commitments from LPs to invest in their fund—is quite different from raising venture capital for startups, where founders pitch to VCs for direct investment. To that end, you should use the size of your fund to narrow your list of LP targets. If your fund is too small to go after pension funds and endowments directly, you can still get close to them by targeting fund-of-funds instead. That’s what Monique Woodard did at Cake Ventures, and she’s been rocking ever since.
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Early Stage Investor focused on Industrial Tech | Kauffman Fellow
2moMonique Woodard is phenomenal - thanks for the valuable, candid fundraising insight.