James Heath, Investment Principal at dara5, sits down with David Weisburd to discuss early stage venture. We’re proudly sponsored by Bidav Insurance Group, visit lux-str.com if you’re ready to level up your insurance plans.

(0:00) Episode Preview

(1:36) How PwC evaluates venture companies

(3:25) Non-consensus learning about VC

(4:30) Look for entrepreneurs that are trying to solve a critical problem

(6:25) What is dara5?

(8:36) How can information provide alpha?

(11:01) The importance of data when co-investing

(12:32) Warm versus cold intro co-investments and how to implement a double gated process

(15:53) Episode Sponsor: Bidav Insurance Group

(17:22) Smaller funds and ownership levels

(19:06) Build long term relationships with GPs: education and casual conversations

(24:13) The changing power structures in fundraising

(25:34) The competing dynamics of a challenging market and investor friendly terms

(28:16) How family offices should invest in venture

(31:19) How to unlock the mean venture IRR of 50%

(34:29) Which is a better investment: top decile backed company or an emerging manager?

(35:45) Reaching Series B increases likelihood of unicorn status to 24%

(37:27) AGM best practices

(39:45) The importance of sharing knowledge

(41:40) Why only early stage venture is non-zero sum

(45:46) What’s actually going to happen in the VC reset

(50:21) The emergence of European VC

(51:52) Don’t be scared of emerging managers