『The Venture Capital Investor Podcast with Fexingo: Startup Investing for Limited Partners』のカバーアート

The Venture Capital Investor Podcast with Fexingo: Startup Investing for Limited Partners

The Venture Capital Investor Podcast with Fexingo: Startup Investing for Limited Partners

著者： Fexingo
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Lucas and Luna dissect venture capital from the limited partner's vantage point, moving beyond surface-level pitch decks to the actual mechanics of fund construction, fee structures, and return attribution. Each episode examines a specific LP decision—whether to commit to a first-time fund, how to evaluate track records without survivorship bias, or what the J-curve really means for cash flow planning. Using real fund documents and public filings from firms like Sequoia, a16z, and Index Ventures, the hosts walk through how institutional investors think about vintage year risk, diversification across stage and geography, and the overlooked influence of fund terms like hurdle rates and clawbacks. Lucas brings the analytical framework—think modified IRR calculations and public market equivalents—while Luna tests those ideas against actual LP experiences from endowments, family offices, and pension funds. They contrast the narratives venture firms sell (moonshots, founder-first ethos) with the data LPs actually use (DPI, TVPI, quartile persistence). Whether you're a new family office allocator or an experienced fund-of-funds analyst, this show gives you the language and logic to push back on a GP's story. Why do top-quartile funds tend to revert to the mean, and how do you spot the ones that won't? #VentureCapital #LimitedPartners #FundInvesting #LPStrategy #VCReturns #PortfolioConstruction #FundTerms #VintageYear #DPI #TVPI #JCurve #InstitutionalInvesting #EndowmentModel #FamilyOffice #FundOfFunds #FexingoBusiness #BusinessPodcast #Finance Keep every episode free: buymeacoffee.com/fexingo© 2026 Fexingo. All rights reserved. 経済学
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  • How LPs Are Using GP Stake Sales for Liquidity in 2026

    How LPs Are Using GP Stake Sales for Liquidity in 2026
    2026/06/07
    In this episode of The Venture Capital Investor Podcast, Lucas and Luna explore a growing liquidity strategy for limited partners: selling GP stakes. As VC firms mature, some general partners are selling minority stakes in their own management companies to outside investors, providing early liquidity to LPs who want to exit before the fund fully winds down. The hosts break down a real-world example: the 2025 sale of a minority stake in a top-tier venture firm to a large asset manager, and how that deal allowed certain LPs to cash out at a premium. They discuss the mechanics, the typical discounts, and the risks, including conflicts of interest and valuation challenges. Lucas and Luna also compare GP stake sales to other liquidity tools like secondary sales and GP-led tender offers. By the end, listeners will understand when this strategy makes sense and which LPs should pay attention. #GPStakeSale #VentureCapital #LimitedPartners #Liquidity #LPStrategy #SecondaryMarket #PrivateEquity #VCInvesting #AssetManagement #PortfolioConstruction #AlternativeInvestments #Finance #BusinessPodcast #FexingoBusiness #StartupInvesting #FundManagement #GPStakes #InstitutionalInvesting Keep every episode free: buymeacoffee.com/fexingo
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    13 分
  • How LPs Use ESG Metrics in Venture Capital Due Diligence

    How LPs Use ESG Metrics in Venture Capital Due Diligence
    2026/06/06
    Episode 35 of The Venture Capital Investor Podcast with Fexingo dives into how Limited Partners are integrating ESG metrics into their venture capital due diligence. Lucas and Luna explore the rise of ESG-focused frameworks, the challenge of standardizing metrics across startup portfolios, and real-world examples like the California Public Employees' Retirement System (CalPERS) and its engagement with VC firms. They discuss how LPs are moving beyond simple screening to demand measurable impact data, the role of the ESG Data Convergence Initiative, and why some GPs are now hiring dedicated ESG officers to close deals. The episode also examines pushback from managers who argue that early-stage ESG reporting is impractical. Specific data points include the percentage of LPs now incorporating ESG into investment memos (over 60% according to a 2025 survey), and how a small but growing number of venture funds are tying carried interest to ESG targets. A balanced look at a rapidly evolving area of LP-GP negotiation. #ESG #VentureCapital #LimitedPartners #DueDiligence #CalPERS #ESGDataConvergenceInitiative #SustainableInvesting #ImpactInvesting #GPEngagement #CarriedInterest #ESGMetrics #PortfolioConstruction #InstitutionalInvestors #PrivateMarkets #Finance #Investing #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo
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    8 分
  • How LPs Are Using GP-Led Secondaries for Liquidity in 2026

    How LPs Are Using GP-Led Secondaries for Liquidity in 2026
    2026/06/06
    In this episode, Lucas and Luna break down the mechanics of GP-led secondary transactions, a growing tool for limited partners seeking liquidity before a fund fully matures. They walk through a real example: a $300 million continuation vehicle for a venture-backed cybersecurity company, and explore how LPs evaluate offers, negotiate pricing, and weigh the trade-offs between selling now or holding for a potential up-round. The hosts also explain why these deals surged 40% year-over-year in the first quarter of 2026, touching on regulatory shifts and the rise of dedicated GP-led secondary funds. Whether you're a new LP or a seasoned allocator, this episode gives you the concrete terms and questions to ask before signing any consent form. #VentureCapital #SecondaryMarkets #GPLedSecondaries #Liquidity #LimitedPartners #Finance #AlternativeInvestments #FexingoBusiness #BusinessPodcast #PortfolioManagement #Cybersecurity #ContinuationVehicle #LPStrategies #VentureInvesting #FundFinance #PrivateEquity #AssetAllocation #DueDiligence Keep every episode free: buymeacoffee.com/fexingo
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    10 分
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