June 24, 2026

E394: How Great LPs Pick Venture Funds | Jamie Rhode

38 minutes

What if the biggest mistake LPs make in venture is backing the same managers over and over instead of constantly asking who they would invest in if they were starting from scratch today?

In this episode, I sit down with Jamie Rhode, Partner at Screendoor, to discuss what separates the best emerging managers from the rest of the market. Jamie explains why so many venture funds look identical today, how LPs unintentionally create that dynamic, and why manager selection is really about finding GP-market fit.

Highlights:

Why so many emerging managers look exactly the same to LPs

The concept of GP-market fit and why it matters more than ever

What separates great investors from great fund managers

Why endurance and adaptability matter more than early momentum

The role of disagreement and respect in high-performing partnerships

Jamie's framework for 90% rules-based investing and 10% "break-the-rule" investments

Why fund one managers may have structural advantages over established firms

How successful GPs refresh their networks before their edge disappears

The founder flywheel effect and its impact on sourcing

Why LPs should ask themselves: "Would I invest in this manager again today?"

The hidden risks of strategy drift as venture firms mature

Why sitting out a vintage year may be more costly than backing the wrong manager

Guest Bio:

Jamie Rhode is a Partner at Screendoor, a venture-focused fund-of-funds platform that anchors and supports the next generation of venture capital managers. Prior to Screendoor, she spent more than eight years at Verdis Investment Management, a single-family office where she focused on emerging venture managers, private equity, and hedge fund investments.

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Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

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LinkedIn: https://www.linkedin.com/in/jerrcfa/

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Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) Why Most Venture Managers Sound Exactly the Same

(1:41) The Hidden Framework Behind Great Emerging Managers

(3:39) What It Actually Takes to Be a Top Seed Investor Today

(5:47) Which Emerging Managers Will Survive the Extinction Event?

(10:00) Why Great Venture Partnerships Need More Than Complementary Skills

(14:29) The 10% Rule That Creates Venture Outliers

(18:55) Why Fund One Managers Have a Structural Advantage

(22:59) The One Trait Shared by Long-Term Winning Venture Firms

(27:56) The Biggest Mistake LPs Make When Re-Upping Managers

(35:18) How Emerging Managers Can Compete Against Mega Funds

...more

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By David Weisburd

4.5

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