venturecapital

Wrote a little love letter to venture capital.

Wrote a little love letter to venture capital. 

https://www.notboring.co/p/venture-capital-and-free-lunch

maker was better with one collateral // it is what it is  // here before Frames

Truth is somewhat in the middle no? DPI is king, but institutional LPs do value GPs that can put more $s at work. It makes their job easier and balances out their GP portfolio without needing to have a long tail of small commitments. But totally agree with your take for smaller funds with less institutional LPs.

Nice one Packy! I had a similar take between DPI and AUM/fee trade off here: https://warpcast.com/d1ego/0x946cabf3.

Also loved your take about some mega-funds using their fees to continue exploring high-conviction bets. Very different vs. PE. (i.e. TPG IPO'd in 2022 with $109B in AUM at a $9B valuation). Shows investors value the fee stream, not the upside potential.