Ternion reposted this
The differences between first time funds that race ahead in this market, and the rest – part 5 This series, we’ve unpacked the 5 qualities behind the most successful raises: ➡ A strong brand ➡ A coherent vision --> strategy --> pipeline ➡ A world-class and complementary team ➡ A track record of prior success that they can point to ➡ Investor relationships who will follow or are following them Last but not least: 5. INVESTOR RELATIONSHIPS If you’re reading this and you’re at your “prior firm”, your secret is safe with me. But more importantly, the LPs most likely to support you at your new firm are those who know you the best. To the extent you can, build relationships with those LPs. Similarly, as you embark on your new firm journey, map out the investors who invest in your strategy and build relationships early. The first time you speak to an LP shouldn’t be when you’re asking for capital. For many of the fundraises you hear about that rapidly raise at their caps, many of those situations benefit from large anchor commitments from LPs who are either strategic investors in the firm, very familiar with the firm or the team from prior lives, or both – it’s rarely coincidence, and rarely love at first sight. Would you ask someone to marry you on a first date? #marketing #privatemarkets #privateequity #alternatives Ternion #emergingmanagers #capitalraising
