In this insightful episode of the Advancing VC Podcast, we sit down with Milana Kuzmanovic, a key figure at World Innovation Lab (WiL), to explore the dynamic intersection of Japanese corporate venture capital, cross-border startup expansion, and fund-of-funds investing. Milana shares her unique journey from working at Citigroup in Tokyo and the IMF to playing multiple strategic roles at WiL, including platform director, chief of staff, and now a principal on the fund-of-funds team.

Listeners will gain a deep understanding of WiL’s dual investment approach—direct investments primarily in B2B SaaS and AI startups at Series B and beyond, and a growing fund-of-funds strategy focused on emerging and established managers, predominantly in the U.S. Milana candidly discusses how WiL leverages its strong Japanese corporate and government LP relationships to drive innovation, emphasizing the importance of trust, cultural fluency, and hands-on support in helping startups expand into Japan. She highlights key lessons for founders on international expansion, such as the dangers of expanding too fast, mistaking early adopters for broad market acceptance, and the critical need for boots on the ground.

The conversation also delves into the evolving landscape of corporate venture, where Milana stresses the necessity of clear strategic objectives, alignment between corporate venture arms and their parent companies, and the role of innovation programs WiL runs to foster an entrepreneurial mindset within large Japanese corporations. On the fund-of-funds side, Milana outlines WiL’s disciplined approach to portfolio construction, balancing alpha-seeking emerging managers with stable, established funds, and shares perspectives on the rise of solo GPs, highlighting both their agility and inherent risks.

Listeners will appreciate Milana’s nuanced take on the long-term nature of LP relationships in Japan, the cultural and operational challenges of cross-border venture, and the evolving venture capital ecosystem amid rapid technological change, including AI. Her reflections on what emerging managers can learn from established firms—and vice versa—offer valuable guidance for investors and founders alike.

Tune in for a comprehensive conversation that blends practical venture insights with cultural context, illuminating how World Innovation Lab is advancing venture capital at the nexus of Japan and Silicon Valley.

Key takeaways include:
- WIL’s strategic dual focus on direct B2B SaaS investments and fund-of-funds in emerging managers
- The importance of cultural trust and localized support for startups entering Japan
- Lessons on disciplined international expansion and market penetration
- How Japanese corporate LPs are increasingly investing in venture funds and innovation programs
- The evolving role and challenges of solo GPs in portfolio construction
- Insights into corporate venture success factors and innovation mindset cultivation
- The vital role of relationship-building and long-term alignment in Japanese LP-GP dynamics
- Perspectives on venture capital’s future amid AI and shifting fund sizes

Whether you’re an LP, GP, founder, or simply passionate about cross-border venture dynamics, this episode offers rare, candid insights into one of the most sophisticated and culturally nuanced venture ecosystems in the world.

#AdvancingVC #WorldInnovationLab #JapaneseVenture #FundOfFunds #CorporateVenture #CrossBorderExpansion #EmergingManagers #SoloGPs #InnovationMindset #VentureCapital #LPInsights #StartupExpansion #AI #VCLeadership

In this episode of the Advancing VC Podcast, we sit down with Frank, Director at Morgan Creek Capital, for an expansive and transparent look into one of the most experienced fund-of-funds perspectives in early-stage venture capital. With over two decades of experience and a track record of backing fund managers from their first check through fund nine, Frank offers rare insights into what it takes to build, scale, and sustain a successful VC franchise from the LP lens.

We unpack Morgan Creek’s data-backed, high-conviction strategy in early-stage venture — including their 5S underwriting framework: Source, Select, Secure, Support, and Signal. Frank explains how this model helps identify “key-node” managers—VCs who shape markets and attract downstream capital. He also shares how Morgan Creek thinks about power-law returns, solo GPs, co-investments, and portfolio construction, offering practical benchmarks on ownership, reserves, and fund return expectations.

Listeners will gain a unique understanding of how Morgan Creek blends relationship-driven diligence with long-term discipline to uncover breakout managers early and ride with them through inflection points. We discuss why they don’t focus on percent ownership like most LPs, how they approach vintage diversification, and the LPAC dynamics they prefer. Frank also addresses common fundraising challenges on both sides of the LP/GP table—and why LPs need to be just as thoughtful, intentional, and persistent as the GPs they back.

As the episode progresses, we also tackle pressing questions about the rise of AI, the bifurcation in venture fund sizes, and the evolving role of solo GPs in the VC ecosystem. Frank offers grounded advice to emerging managers navigating today's environment and emphasizes the importance of introspection, conviction, and purpose in building enduring venture franchises.

Whether you're a GP raising your first or fifth fund, an LP looking to sharpen your underwriting, or simply passionate about the dynamics of venture capital, this episode is a must-listen.

Tune in to learn:
- Why Morgan Creek focuses on fund return over ownership %
- How power-law thinking shapes fund-of-fund portfolio construction
- What the 5S framework reveals about manager quality and potential
- How solo GPs can generate signal and outsized outcomes
- Why reserve strategy varies drastically by fund size and stage
- The importance of continuity, conviction, and clarity for long-term LP/GP relationships
- How AI is reshaping value creation and the role of early-stage capital

Subscribe now for a candid and insightful conversation with a leading LP investing at the frontier of early-stage venture capital.

#AdvancingVC #MorganCreekCapital #FundOfFunds #EmergingManagers #SoloGPs #VentureCapital #LPInsights #Fundraising #PortfolioConstruction #EarlyStageInvesting #AI #PowerLaw #LongTermThinking #VCLeadership #LPStrategy

In this episode of the Advancing VC Podcast, we dive deep with Aakar Vachhani, Managing Partner at Fairview Capital, as he shares insights from his remarkable 15+ year journey in venture capital. Starting at Fairview in 2008 without an Ivy League pedigree or prior investment experience, Aakardiscusses how Fairview’s culture—rooted in trust, inclusivity, and continuous learning—enabled him to break into the industry and eventually open their San Francisco office. We explore Fairview’s unique approach to emerging managers, emphasizing the importance of relationships, intuition, and taking calculated risks on unconventional teams.

Aakar reveals how Fairview maintains an inclusive pipeline, fostering diversity of thought and background to identify breakthrough funds and founders often overlooked by traditional investors. He explains their hands-on, active LP role, going beyond capital allocation by supporting fundraisers, marketing, and operational infrastructure to help portfolio firms build enduring platforms. The episode also sheds light on the evolving venture landscape with surging first-time funds, the challenges of fundraising for funds-of-funds, and the critical role of consistent, disciplined capital deployment.

Listeners will gain a nuanced understanding of how Fairview balances tradition and innovation, leveraging data and deep relationships to navigate a competitive market with high dispersion of returns. This candid conversation explores the psychology of trust, the power of transparency in underwriting, and the long-term vision required to back firms that defy the mold. Whether you’re an emerging manager, LP, or founder, this episode offers rare perspective on building resilient venture firms and thriving in an increasingly complex ecosystem.

Tune in to learn:
- Why continuous learning and transparency trump spotless track records
- How trust and relationships shape investment decisions beyond pure data
- The significance of diversity and bias mitigation in sourcing managers
- Strategies Fairview uses to actively support emerging fund managers
- What it takes to build an enduring venture platform amid market shifts
- How AI and technology are transforming startup creation and venture dynamics

Subscribe now for an in-depth conversation with a seasoned LP who exemplifies thoughtful, inclusive, and disciplined venture investing.

#AdvancingVC #FairviewCapital #EmergingManagers #VentureCapital #FundOfFunds #LPInsights #DiversityInVC #StartupInvesting #FundraisingStrategies #LongTermThinking #VCLeadership #VentureEcosystem #InvestmentPhilosophy

In this episode of The AdvancingVC Podcast, we sit down with Chris Douvos—one of venture capital’s most thoughtful LPs and the founder of Ahoy Capital—to explore what it really means to build enduring firms and support breakthrough investors in an increasingly competitive landscape. With decades of experience backing iconic names early, Chris shares a nuanced view of how the best VCs differentiate not just through access or brand, but through deep insight, discipline, and architecture.
We unpack the shift from spray-and-pray investing to high-conviction craftsmanship, what legacy firms can learn from emerging managers, and why the future of venture may hinge on those who know how to say “no” better than anyone. From the structure of great firms to the psychology of decision-making and the LP-GP relationship, this episode goes deep on the long game in venture—and what it really takes to play it well.

Whether you're an emerging manager, a curious LP, or just trying to sharpen your thinking on what makes a VC firm truly great, this episode offers rare perspective from someone who’s seen it all.

Tune in to learn:
- What separates enduring firms from transactional ones
- Why architecture and culture matter more than assets under management
- How LPs think about generational transition—and long-term alignment
- What great decision-making actually looks like inside top-performing funds
- Why nuance, depth, and originality are more important than ever in VC

Subscribe now for a candid look at how thoughtful capital is reshaping the future of venture.
#AdvancingVC #VentureCapital #LPInsights #EmergingManagers #AhoyCapital #VCStrategy #FirmBuilding #LongTermThinking #Fundraising #StartupInvesting #VCWisdom #DecisionMaking #TechStartups #CraftVC #InstitutionalCapital #GPInsights #startuppodcast

In this episode of the Advancing VC Podcast, we dive deep with Jeff Clavier, founder of Uncork Capital, a pioneer in seed-stage venture investing with over 21 years of experience backing more than 280 companies including Fitbit, Eventbrite, and Postmates. Jeff shares the evolution of seed and pre-seed investing—from its early days as a niche space to today’s institutionalized ecosystem—and how Uncork’s high-touch, founder-first approach sets them apart in a crowded market.

We explore what it truly takes to back exceptional founders, emphasizing product-market fit, execution, and enduring support through every stage—from idea refinement to scaling, key hires, and eventual exits. Jeff reveals how Uncork balances concentrated portfolios with deep involvement, why integrity and perseverance are core values, and how they structure boards and partnerships to empower founders without controlling them.

Highlights include Jeff’s perspective on the increasing time horizons for startup exits, the importance of disciplined portfolio construction, and how liquidity dynamics are changing in a market where companies stay private longer. We also unpack how Uncork identifies frontier tech opportunities, scales support through platform teams, and manages the challenges of solo GP origins evolving into a collaborative team.

Whether you’re a founder looking to understand how top seed investors think, an LP curious about sustaining long-term venture success, or an emerging manager navigating fund size and concentration, this episode offers invaluable insights from one of venture’s most seasoned practitioners.

Tune in to learn:

• The founding philosophy behind Uncork and seed investing’s rise
• How to spot founders with the grit and vision to build lasting companies
• Why high-conviction, hands-on support outperforms “spray and pray” strategies
• The evolving role of boards and investor-founder dynamics at seed stage
• How to balance portfolio size, ownership, and founder attention for maximum impact
• The future of liquidity and returns in a lengthening venture cycle
• What “frontier tech” investing really means today

Subscribe now for a candid, comprehensive look at building enduring venture success in an ever-changing startup landscape.

#AdvancingVC #SeedInvesting #UncorkCapital #FounderSupport #VentureCapital #StartupGrowth #FrontierTech #PortfolioStrategy #LPInsights #VCWisdom #HighConvictionInvesting

In this episode of The AdvancingVC Podcast, we dive into the evolving world of venture capital with Danielle from GC1. Discover how grit and curiosity are essential traits for founders and fund managers alike, and why VC is more than just funding—it’s a unique form of innovation finance shaping the future. We discuss the complexities of startup valuations, the dynamic roles within VC teams, and what dealbreakers really look like through a surprising restaurant metaphor.

Whether you’re a founder, investor, or simply fascinated by how venture capital drives innovation, this conversation offers deep insights into the VC landscape, challenges, and opportunities ahead.

Tune in to learn:
- Why continuous learning beats shortcuts in VC and startups
- How VC supports breakthrough innovation globally
- The risks and realities behind high startup valuations
- How a lean VC team operates and supports portfolio companies
- What factors make investors walk away from deals
- The future of venture capital in a shifting market

Subscribe and listen now to get a front-row seat to the real venture capital world!

In this episode of The AdvancingVC Podcast, we sit down with Amanda “Robby” Robson, a Solo GP and founder of Modern Technical Fund, to unpack what it really takes to back—and become—a breakout early-stage founder in today’s AI-fueled market. From defining your category to mastering distribution, this conversation explores why speed, clarity, and obsession matter more than ever.

We dive into lessons from standout companies like Drata and LaunchDarkly, how to cut through the AI noise, and what LPs are really looking for in the current fundraising climate. Plus, we explore the solo GP journey—from building a fund from scratch to cultivating communities that actually drive results.

Whether you're an emerging manager, technical founder, or just curious about what separates good from great in early-stage tech, this episode delivers straight-up insight from someone in the trenches.

Tune in to learn:
- What makes a truly differentiated product in crowded markets
- Why distribution is often more important than product
- How to spot (and avoid) “AI slop”
- What LPs respond to in a tough fundraising environment
- The real traits of exceptional founding teams

Subscribe now for a candid look at the pace, mindset, and mechanics behind modern venture capital.

#VentureCapital #StartupFounders #AIStartups #EarlyStageInvesting #SoloGP #TechFounders #ModernTechnicalFund #DistributionStrategy #FundraisingTips #ProductMarketFit #FounderAdvice #StartupGrowth #CommunityBuilding #AIInnovation #VCInsights #StartupPodcast #AdvancingVC #TechStartups #WomenInVC #AngelInvesting

In this episode, we’re joined by Andrew from Shorewind Capital, a venture capital firm focused on follow-on investing in deep tech, health, and climate startups. Andrew dives into Shorewind’s unique investment strategy, which emphasizes backing companies post-seed through Series A and beyond, particularly in sectors where scientific or engineering breakthroughs can unlock enormous value.

In the first half of the conversation, Andrew shares Shorewind's approach to follow-on investing—how they evaluate technical milestones, why capital efficiency matters, and what makes dual-use (commercial and defense) technologies especially compelling. He also talks about what it's like working with founders from technical backgrounds (often with military or research roots) and how Shorewind supports them through company-building inflection points.

In the second half, the discussion moves to founder advice, especially around fundraising strategy—timing rounds to follow key value inflection points, avoiding over-reliance on government grants, and understanding how investor expectations shift from pre-seed to Series B. Andrew also touches on the evolving venture capital landscape, how AI and market cycles might reshape early-stage investing by 2029, and how Shorewind is thinking about its own growth as a fund.

To close, Andrew reflects on the future of energy and healthcare innovation, his optimism about long-term trends in both sectors, and the kinds of founders building market-ready solutions that also solve critical global problems.

Stick around for a fun rapid-fire round on favorite books, movies, snacks, and travel spots—plus a deep-dive book recommendation on ASML that any tech enthusiast will love.
#DeepTech #VentureCapital #ClimateTech #HealthTech #StartupFunding #DualUseTech #SBIR #FounderAdvice #ShorewindCapital #EmergingManagers #VCInsights #StartupMilestones #CapitalMarkets #TailwindPodcast

In this episode, Charles Hudson, Managing Partner at Precursor Ventures, shares how his firm backs 80–100 pre-seed startups per fund—and why that strategy defies traditional venture expectations. He dives into portfolio construction, founder support, and how Precursor maintains quality and accessibility across such a high-volume model.
We also discuss the evolving seed landscape, how multi-stage firms are approaching earlier rounds, and why founder-market fit matters more than a polished product. If you’re a founder or investor navigating early-stage venture, this is a must-listen.
🔹 Topics covered:
- Precursor’s high-volume investment model
- Supporting founders without board seats
- The bifurcation of seed-stage VC
- Advice for pre-seed founders
- The future of venture funding

📌 Subscribe for more founder & VC insights.

#PortfolioStrategy #FounderAdvice #FundraisingTips #StartupAdvice #EarlyStageInvesting #AngelInvesting #FounderSupport #PitchDeck #VentureCapital #Startups #Founders #PreSeed #SeedFunding #TechStartups #StartupFunding #VCInsights #PodcastEpisode #StartupPodcast

In this episode, we’re joined by Winter Mead, founder of Coolwater Capital, a platform designed to support the next generation of venture capital managers. With a background as an LP at Sapphire Ventures, Winter brings a unique perspective on what it takes to raise and run a successful VC fund today.

We talk about:
- The origin and mission of Coolwater Capital
- How Coolwater helps new GPs launch, scale, and institutionalize their firms
- The importance of LP education and the shift in expectations around fund strategy
- What separates great emerging managers from the rest
- How venture is evolving—and what new managers need to know

Whether you’re a current or aspiring GP, LP, or just curious about the inner workings of venture capital, this episode is packed with insights from someone helping reshape the industry from the ground up.

🎧 Subscribe and listen wherever you get your podcasts!
#VentureCapital #Startups #EmergingManagers #CoolwaterCapital #WinterMead #VCFunding #LPs #GPs #Podcast #StartupInvesting #TechInvesting #Founders #Finance #Investing