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Earnest Sweat Earnest Sweat

Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies. Follow along and subscribe at swimmingwithallocators.com.

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30 Years of Lessons Learned Investing in Emerging Managers with Aakar Vachhani

Highlights from this week’s conversation include:Aakar's Career Journey (1:27)Evolution of Fairview's Investment Strategy (2:56)Impact of the Great Recession (3:06)Fairview's Investment Activities (…

Highlights from this…

Highlights from this week’s conversation include:Aakar's Career Journey (1:27)Evolution of Fairview's Investment Strategy (2:56)Impact of the Great Recession (3:06)Fairview's Investment Activities (5:22)Partnerships and New LPs (7:31)Direct Co-Investment Strategy (8:30)Differentiation from Other Fund of Funds (11:23)Chip on the Shoulder Mentality (13:31)Overlooked Opportunities in Diversity (15:01)Emerging Managers and Deal Flow (16:46)Insider Segment: Camber Road's Business Overview (00:17:37)Navigating Large Funding Offers (19:30)Strategic Work in Venture Capital (22:19)Anticipating New Fu…

Listen · 41:54 Watch Now
How MetLife Won Allocation in Top GPs with Matt Curtolo

Highlights from this week’s conversation include:Matt’s Background and Experience in VC (0:10)Challenges in Venture Capital Allocations (2:20)Understanding the Allocator's Perspective (4:32)Techno…

Highlights from this…

Highlights from this week’s conversation include:Matt’s Background and Experience in VC (0:10)Challenges in Venture Capital Allocations (2:20)Understanding the Allocator's Perspective (4:32)Technology's Impact on Allocators (7:02)Direct Investments vs. Outsourced CIOs (10:04)Using Third-Party Reports for Performance Measurement (14:14)Understanding Performance Metrics (16:12)Venture Capital Landscape (17:50)Insider Segment: The Importance of Diversifying Funding Sources (19:31)Extending Your Runway and Preserving Equity (22:06)Engaging with Camber Road (22:57)Insurance Allocators' Strategy…

Listen · 45:28
How Screendoor Underwrites First-Time Fund Managers with Lisa Cawley

Highlights from this week’s conversation include:Lisa's LP Career Journey (1:05)Changes in the Venture Capital Landscape (4:21)Introduction to Screendoor (6:16)GP Advisory Services Explained (8:47)P…

Highlights from this…

Highlights from this week’s conversation include:Lisa's LP Career Journey (1:05)Changes in the Venture Capital Landscape (4:21)Introduction to Screendoor (6:16)GP Advisory Services Explained (8:47)Portfolio Construction Approach (13:20)Analyzing Fund Ones (15:53)Investment of Time (17:44)Common Pitfalls for First-Time Managers (21:22)Legal and Operational Considerations (25:14)Insider Segment: Starting a New Venture (00:27:06)Understanding Equipment Financing (30:07)Lessons from the 2020-2022 Debt Cycle (31:55)Importance of Diversifying Funding Sources (36:10)The Value of Personal Stories in…

Listen · 49:03
Foundry's Approach to Investing in Early-Stage VC Funds with Jaclyn Freeman Hester

Highlights from this week’s conversation include:Jaclyn’s Background and Journey in VC (0:50)Early Experiences in Venture Capital (1:55)Finding Edge in Venture Investing (5:16)Decision to Institut…

Highlights from this…

Highlights from this week’s conversation include:Jaclyn’s Background and Journey in VC (0:50)Early Experiences in Venture Capital (1:55)Finding Edge in Venture Investing (5:16)Decision to Institutionalize Fund Investments (8:09)Evolution of Foundry's Investment Strategy (10:38)Building Networks in Venture Capital (15:16)Initial Impressions of the Venture World (16:14)Understanding the LP World (17:51)Evaluating People in Venture (20:39)Adapting to a Growing Number of Funds (23:01)Insider Segment: Advice for Fund Managers (25:49)Opportunities for Limited Partners (27:22)Outlook for 2024 (28…

Listen · 44:43
Foundry’s Approach to Investing in Early-Stage VC Funds with Jaclyn Freeman Hester

This week on Swimming with Allocators, Earnest and Alexa welcome Jaclyn Freeman Hester, partner at Foundry VC in Boulder, Colorado. She had the good fortune of training under Lindel Eakman (ex-UTIMCO)…

This week on Swimmin…

This week on Swimming with Allocators, Earnest and Alexa welcome Jaclyn Freeman Hester, partner at Foundry VC in Boulder, Colorado. She had the good fortune of training under Lindel Eakman (ex-UTIMCO). Jaclyn explains Foundry's decision to institutionalize their fund of funds strategy and how their strategy in early-stage VC funds has evolved along the way. She provides guidance for other LP’s considering a Fund-of-Funds strategy and what worked well for Foundry. This episode also features industry expert Brian Huber of Gunderson Dettmer warning fund managers not to get too cute with creati…

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A Novel Solution for LPs to Access Emerging GPs Biggest Winners with Sunil Pai

Highlights from this week’s conversation include:Sunil’s background in venture capital (0:11)First Contact with DFG (2:07)Transition to AngelList (5:02)Insights Leading to the Collective (6:57)Shi…

Highlights from this…

Highlights from this week’s conversation include:Sunil’s background in venture capital (0:11)First Contact with DFG (2:07)Transition to AngelList (5:02)Insights Leading to the Collective (6:57)Shifts in Investment Strategy (10:05)Insider Segment: Regulatory Changes Impacting VC (12:08)Emerging Managers and Established Firms (15:31)Angel Collective Opportunity Fund Overview (18:19)Manager Selection Criteria (21:11)Pitching to Founders (23:06)Opportunity Funds in Context (27:15)Rate of Deployment Expectations (28:25)Emerging Manager Market Fit (30:12)Starting as an Angel Investor (31:43)Chal…

Listen · 40:29 Watch Now
Today’s Opportunities and Landscape in Canadian Venture Capital

Highlights from this week’s conversation include:John’s journey from operator to allocator (0:49)Misalignment in the Market (3:30)RBCx’s Venture Capital Approach (5:40)Key Insights on Fund Inves…

Highlights from this…

Highlights from this week’s conversation include:John’s journey from operator to allocator (0:49)Misalignment in the Market (3:30)RBCx’s Venture Capital Approach (5:40)Key Insights on Fund Investing (8:33)Strategic Advantages of RBCx (10:14)Advice for Corporates on Fund Practices (12:47)Building Anchor Partnerships (14:00)Insider Segment: Challenges for Emerging Managers (17:20)Navigating Due Diligence Processes (19:04)LPA Considerations for Institutional Investors (21:44)Mortgage Challenges for Founders (25:59)Surprises of Being an LP (27:37)Understanding the Capital Food Chain (28:26)E…

Listen · 50:05
Building Relationships with Asian Limited Partners with Chris Shen of Revere VC

Highlights from this week’s conversation include:Chris Shen's Background and LP Career Journey (0:52)US-China Geopolitics, History, and MacroEconomics (3:27)Developing Relationships with Asian Alloc…

Highlights from this…

Highlights from this week’s conversation include:Chris Shen's Background and LP Career Journey (0:52)US-China Geopolitics, History, and MacroEconomics (3:27)Developing Relationships with Asian Allocators (8:02)Flavor of GP and Navigating Family Offices in Asia (11:31)Understanding LP Motivations (16:52)Importance of Liquidity for Investors (18:35)Working with Corporate Venture Capital Groups (22:15)De-risking Perception for Corporates (24:28)Diversity of VC Ecosystem (30:53)Insider segment: Focusing on the Innovation Economy (32:01)Learning the ropes of venture capital (38:18)Advice for juni…

Listen · 51:43 Watch Now
Opportunities in Today’s Secondary Market with Christopher Johnson of Knightsbridge Advisers

Highlights from this week’s conversation include:Christopher’s Background and Journey in Venture (0:13)Venture Capital as a Place of Hope (4:33)Macroeconomic Trends in Venture (5:50)Activity in th…

Highlights from this…

Highlights from this week’s conversation include:Christopher’s Background and Journey in Venture (0:13)Venture Capital as a Place of Hope (4:33)Macroeconomic Trends in Venture (5:50)Activity in the Secondary Market (7:44)Platforms and Working with Them (12:30)LPs' Preferences in the Market (14:37)The role of venture capital in the global economy (16:43)Working with institutional LPs (17:38)Tailoring services for different client types (19:00)Structural approach to client services (22:19)Navigating the slow-moving venture capital landscape (24:41)Insider Segment: Vested’s API integration …

Listen · 47:41 Watch Now
DDQ: Megafunds Are Back; Adjusting Your LP and VC Strategy Accordingly with Earnest Sweat and Alexa Binns

Highlights from this week’s conversation include:The Series A Crunch (0:59)Concentration of LP Capital in Mega Funds (4:22)Partnership Questions in VC (12:24)Start, Bench, Cut of Alternative Investm…

Highlights from this…

Highlights from this week’s conversation include:The Series A Crunch (0:59)Concentration of LP Capital in Mega Funds (4:22)Partnership Questions in VC (12:24)Start, Bench, Cut of Alternative Investment Products (21:34)Emergence of Solo GPs and Potential Mergers (27:56)Debate on the Potential of 2024 as a Breakout Vintage Year (30:28)LP Update Strategies and Being a Better Ally (33:20)The Power Law (41:22)The Next Novel Approach (42:53)Venture Capital's Future (44:30)Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) pers…

Listen · 45:21
DDQ: Megafunds Are Back; Adjusting Your LP and VC Strategy Accordingly

This week on Swimming with Allocators, it’s another DDQ episode as Earnest and Alexa delve into various venture capital (VC) topics and answer audience questions. They discuss the series A crunch, t…

This week on Swimmin…

This week on Swimming with Allocators, it’s another DDQ episode as Earnest and Alexa delve into various venture capital (VC) topics and answer audience questions. They discuss the series A crunch, the concentration of LP capital in mega funds, and the importance of partnership questions in VC. They also debate the merits of secondary funds, blue-chip venture portfolios, and direct investing through family offices. Additionally, they explore the trend of solo GPs and the potential for mergers, debate whether 2024 will be a breakout vintage year for VC returns, and so much more! Highlights f…

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Venture Capital for the State of California with Derrick Tang of IBank California

Highlights from this week’s conversation include:Derrick’s background in venture capital (0:19)Transition to public sector (2:27)The Government's role in innovation (4:55)Public perception of gove…

Highlights from this…

Highlights from this week’s conversation include:Derrick’s background in venture capital (0:19)Transition to public sector (2:27)The Government's role in innovation (4:55)Public perception of government in venture capital (8:40)Government programs for venture capital (10:48)Constraints of public funding (13:11)Coordination among state programs (15:18)Purpose of public venture funds (17:14)Supporting Underrepresented Small Businesses (17:34)Investing in Diverse Teams (22:41)Insider Segment: Vested’s Differentiation from Competitors (24:59)Considerations for Pre-IPO Shares (25:35)Thought L…

Listen · 42:52 Watch Now
Starting a Public Venture Program from Scratch with Peter Teneriello

Highlights from this week’s conversation include:Peter’s background and journey Into Finance (0:58)Strategy of Institutional LPs (2:30)Bandwidth Constraints and Time Management (5:53)Lessons Learn…

Highlights from this…

Highlights from this week’s conversation include:Peter’s background and journey Into finance (0:58)Strategy of Institutional LPs (2:30)Bandwidth Constraints and Time Management (5:53)Lessons Learned from Early Stage Programs (8:01)Criteria for Fund Managers (10:11)Transition to Institutional LP and Governance Structure (12:56)Challenges Faced by Institutional LPs (16:10)Excitement about certain investment strategies (19:24)Overview of the Kauffman Fellows program (23:04)Insider Segment: Vested's target audience and investor interest (24:32)Ingredients for successful LP-VC partnership (30:4…

Listen · 39:13 Watch Now
Impact Investing: Past, Present, and Future with Margot Kane of Spring Point Partners

Highlights from this week’s conversation include:The Growth and Evolution of Impact Investing (0:47)Misconceptions about Impact Investing (3:34)Impact Investing in Political Climate (7:59)Spring Poi…

Highlights from this…

Highlights from this week’s conversation include:The Growth and Evolution of Impact Investing (0:47)Misconceptions about Impact Investing (3:34)Impact Investing in Political Climate (7:59)Spring Point Partners' Mission (11:07)Venture Capital and Impact Strategy (12:28)Assessing and Vetting Fund Managers (14:41)Impact Labeling for Fund Managers (16:47)Fundraising Strength and Networked Wealth (19:13)Silicon Valley Diversity (23:03)Shared Ownership and Participatory Investment Models (28:31)Insider Segment: Stock Option Funding (33:33)Climate Investment Opportunities (42:13)Intersection of Pla…

Listen · 56:37 Watch Now
QED Chronicles: Lessons Learned from a Top VC for Selecting New Managers with Alex Edelson

Highlights from this week’s conversation include:Alex's experience as a VC turned LP (0:51)Insights into evaluating smaller funds (2:20)Characteristics of a good LP (6:44)Role of an LP as a sounding…

Highlights from this…

Highlights from this week’s conversation include:Alex's experience as a VC turned LP (0:51)Insights into evaluating smaller funds (2:20)Characteristics of a good LP (6:44)Role of an LP as a sounding board (8:06)Constructing an LPAC (10:39)Continuing relationships with funds (12:15)Pitch to LPs for Slipstream Investors (14:17)Evaluating Emerging Managers (18:53)Sector-Focused Funds (24:05)Insider Segment: Navigating Venture Capital’s Evolution (25:45)Diversification of Investment Opportunities (28:35)Future of Venture Capital (30:38)Fund Management and Responsibilities (34:45)Active Investi…

Listen · 38:44 Watch Now
Expanding Your Investment Strategy to Include Venture Capital with Kate Nevin

Highlights from this week’s conversation include:The Origin Story of TSWII (1:04)Kate entering the finance industry (6:07)Family dynamics and alignment in investing (8:28)Transition to private inves…

Highlights from this…

Highlights from this week’s conversation include:The Origin Story of TSWII (1:04)Kate entering the finance industry (6:07)Family dynamics and alignment in investing (8:28)Transition to private investments (00:11:02)Exploring the full spectrum of investments (15:14)Sourcing and Early Stage Investment (18:58)Investing in Female Managers (22:26)Innovating for Parity (24:02)Insider Segment: Simplifying SPVs for fund managers (26:47)Trends in Special Purpose Vehicles (29:53)Negotiating Terms and Warehousing Deals (32:34)Sustaining Interest in Venture Capital (35:59)Investing in Diversity and Comm…

Listen · 58:19 Watch Now
The Strategy for Selecting Top Co-Investments as a Limited Partner with Josh Porter

Highlights from this week’s conversation include:The LA venture ecosystem (0:43)Unique investment opportunities in LA (3:54)Leveraging Entertainment and deep tech in LA (6:42)The Partnership between…

Highlights from this…

Highlights from this week’s conversation include:The LA venture ecosystem (0:43)Unique investment opportunities in LA (3:54)Leveraging entertainment and deep tech in LA (6:42)The Partnership between Josh and Ankeet (7:47)Finding the right partner (9:23)The goal of FirstLook Partners (11:35)Fee structure of fund of funds (15:47)Strategy Shifts and Market Validation (18:13)Co-Investment Strategy (20:05)Investment Thesis and Co-Investment Opportunities (21:30)Insider Segment: Fund Administration and the Rise of Hybrid Fund Models (24:42)Product Development and Core Focus (27:18)Future of Ventur…

Listen · 46:46 Watch Now
How Should Fund Managers Approach Pension Plans in Private Market Investing? Featuring Edward Comerford

Highlights from this week’s conversation include:Edward and Earnest’s Basketball Memories (0:47)The importance of Pension investments (5:42)How fund managers should approach pension plans (7:59)Un…

Highlights from this…

Highlights from this week’s conversation include:Edward and Earnest’s Basketball Memories (0:47)The importance of pension investments (5:42)How fund managers should approach pension plans (7:59)Unique challenges of pension plans (10:41)Role of venture in the portfolio (13:02)Impact of public markets on venture deployment (14:14)Looking for new managers in 2024 (16:11)Investment vehicles (18:17)Insider Segment: Revolutionizing Venture Capital Operations (20:44)Fund administration best practices (23:24)Trends in SPVs (24:52)Warehousing deals (28:33)Comparison and tracking of managers (31:02)…

Listen · 46:46 Watch Now

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