102. The Limited Partner, Part 1 (Lindel Eakman)

Download_v2Nick Moran Angel List

Lindel Eakman of Foundry Group Next joins Nick to cover The Limited Partner, Part 1.  We will address questions including:

  • Lindel Eakman The Limited Partner Venture CapitalCan you walk us through your background and your path to becoming an LP?
  • Can you talk about your experience at Foundry Group and what you’re doing w/ FG Next?
  • Today we are talking Limited Partners… and we’ve discussed LPs in bits and pieces many times before on the program, but for those just listening to the program for the first time, can you start us off w/ a simple definition of ‘Limited Partner.’
  • What are the most common types of Limited Partners and can you mention the key players in the LP community.
  • Can you point out the largest, strategic differences between a large institutional LP vs a family office vs a single retail angel investor?
  • For a large, institutional LP, what percentage of AUM is allocated to venture and how is the rest of the portfolio divided up?
  • Are there VC-dedicated personnel within large institutional investors or do personnel focus across asset classes?
  • For large endowments and pensions funds… I’d like your perspective on allocation strategy. Do other types of assets compete against venture for allocation or rather do LP fund managers earmark a certain amount for private equity and venture and then individual VC funds, for example, would compete against each other for that allocation?
  • What are the weaknesses of setting an asset allocation target?
  • When an LP is assessing a VC fund manager, what are the key items factoring into their decision on whether to invest?
  • How does your assessment change for first-time fund managers?
  • How much does the fund size factor into the LP decision?

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Pete Maglio

The takeaways to end this episode are fantastic! Thanks @TheFullRatchet & @BenEinstein! pca.st/Fey4 #smartHardware #startups