I love this post very much and identify with many of the things you mention as an EM. I am an optimist and endlessly curious. When I was contemplating launching my own fund, I went deep down researching fund structures and the history of venture capital including the economic incentives driving it. I knew I needed to break the rules and offer something different, not for the sake of being different but (as you astutely point out) to optimize for an evolving set of circumstances in the market. I launched FullCircle with a permanent fund structure to better align myself with my investors and my founders. I love the set of constraints it intentionally creates for me to lead a fundamentally transparent and collaborative investing strategy. I look forward to your next post!
Loved this essay and the parallels you see between angel investing and LP investing. Both are so relationship driven! As an emerging manager, I resonated with the “do more with less” quality you mentioned. We emerging managers have to be very scrappy but show that we are to be taken seriously at the same time. It’s a fun balance to tow and does require a lot of creativity! There’s a huge cold start problem with how long it takes to get economics going as a first or second time fund manager.
I love this post very much and identify with many of the things you mention as an EM. I am an optimist and endlessly curious. When I was contemplating launching my own fund, I went deep down researching fund structures and the history of venture capital including the economic incentives driving it. I knew I needed to break the rules and offer something different, not for the sake of being different but (as you astutely point out) to optimize for an evolving set of circumstances in the market. I launched FullCircle with a permanent fund structure to better align myself with my investors and my founders. I love the set of constraints it intentionally creates for me to lead a fundamentally transparent and collaborative investing strategy. I look forward to your next post!
Loved this essay and the parallels you see between angel investing and LP investing. Both are so relationship driven! As an emerging manager, I resonated with the “do more with less” quality you mentioned. We emerging managers have to be very scrappy but show that we are to be taken seriously at the same time. It’s a fun balance to tow and does require a lot of creativity! There’s a huge cold start problem with how long it takes to get economics going as a first or second time fund manager.