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1/ When I started @VersionOneVC 8+ yrs ago, the idea of a single GP was still very strange to many LP's ("what if you get hit by a bus?; how do you scale a fund as an individual?; what about the quality of investment decisions?") - today, most new early-stage funds are single GP.
2/ Institutional investors have started to embrace single GP's, products like "rolling closes" have even further reduced fundraising friction, and there has generally never been a greater willingness from LP's to back talented individuals w/ a clear differentiation.
3/ 3 different models of differentiation seem to have emerged:
- Deep sector focus (e.g. consumer, AI, crypto)
- Network (e.g. access to best operators in a certain industry)
- Specific value-add services (e.g. design; governance / staking services in crypto)
- Deep sector focus (e.g. consumer, AI, crypto)
- Network (e.g. access to best operators in a certain industry)
- Specific value-add services (e.g. design; governance / staking services in crypto)
4/ All of that innovation ultimately benefits founders that now have even more fundraising options - and I hope we will see even more people looking to start a fund and bring their conviction and value-add to entrepreneurs around the world.
5/ Please reach out if you're one of those individuals - I have been personally backing 10+ first-time funds over the past years and would love to help more people get into the VC business.
(having said all that, I thank the day that I met @angelatytran - being a single GP has its advantages but way more fun building a fund as a team
- go @VersionOneVC!)
- go @VersionOneVC!)
