Venture Unlocked: The playbook for venture capital managers

Evolving Venture Liquidity Solutions with Gaurav Mathur of Pinegrove Capital Partners


Listen Later

Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.

In this episode, I have the pleasure of conversing with Gaurav Mathur, Partner at Pinegrove Capital Partners. Together, we dive into the evolving venture capital landscape, focusing on liquidity solutions and the rise of secondary markets. Gaurav shares insights from his extensive experience, discussing the growth in assets under management, the trend of companies staying private longer, and the changing dynamics for limited partners. We explore mechanisms for generating liquidity, such as continuation funds, strip sales, and secondary tenders, emphasizing the importance of alignment between general partners and limited partners.

About Gaurav Mathur and Pinegrove:

Gaurav Mathur is a Partner at Pinegrove Capital Partners. Gaurav Mathur is a seasoned finance professional with extensive experience in investment banking and venture capital. In 2023, he co-founded Pinegrove with Brian Laibow through the backing of a $500 million commitment from Sequoia Heritage and Brookfield.

THE ORG

Prior to founding Pinegrove, Gaurav spent 18 years at Goldman Sachs as a Managing Director in the Investment Banking Division, leading the US Equity Private Markets. He began his career at PwC in the Dispute Analysis & Investigations Group. Gaurav holds a Bachelor of Science degree in Business/Commerce from the University of Virginia.Pinegrove Capital Partners is a venture investment platform that offers tailored solutions for fund managers, founders, and limited partners within the venture capital ecosystem. Their expertise includes fund of funds, venture debt funds, venture secondaries, and co-investments.

With combined assets under management exceeding $10 billion, Pinegrove is supported by sponsors such as Sequoia Heritage and Brookfield Asset Management. In May 2024, an affiliate of Pinegrove, backed by these sponsors, entered into a definitive agreement to acquire SVB Capital, the investment platform business of SVB Financial Group. This transaction was completed in September 2024.

Topics in this conversation include:

* Growth of AUM in Venture Capital (3:53)

* Data-Driven Insights on Liquidity (6:11)

* Private Markets Growth Forecast (11:03)

* Mechanisms for Generating Liquidity (17:00)

* Alignment in Continuation Structures (21:28)

* Sizing Continuation Funds (29:44)

* Exploring Strip Sales (31:36)

* NAV Lending as a Liquidity Tool (34:00)

* Growth of Liquidity Solutions (37:35)

* Technology's Role in Liquidity (41:14)

* Final Thoughts and Takeaways (45:55)

I’d love to know what you took away from this conversation with Gaurav Mathur. Follow me @samirkaji and give me your insights and questions with the hashtag #ventureunlocked.

If you’d like to be considered as a guest or have someone you’d like to hear from (GP or LP), drop me a direct message on X.



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit ventureunlocked.substack.com
...more
View all episodesView all episodes
Download on the App Store

Venture Unlocked: The playbook for venture capital managersBy Samir Kaji

  • 4.9
  • 4.9
  • 4.9
  • 4.9
  • 4.9

4.9

80 ratings


More shows like Venture Unlocked: The playbook for venture capital managers

View all
This Week in Startups by Jason Calacanis

This Week in Startups

1,270 Listeners

a16z Podcast by Andreessen Horowitz

a16z Podcast

1,001 Listeners

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch by Harry Stebbings

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

510 Listeners

The Official SaaStr Podcast: SaaS | Founders | Investors by SaaStr

The Official SaaStr Podcast: SaaS | Founders | Investors

175 Listeners

Origins - Inside Venture Capital, Hosted by a GP and an LP by OpenLP from Sapphire Partners

Origins - Inside Venture Capital, Hosted by a GP and an LP

62 Listeners

Founders by David Senra

Founders

1,774 Listeners

Invest Like the Best with Patrick O'Shaughnessy by Colossus | Investing & Business Podcasts

Invest Like the Best with Patrick O'Shaughnessy

2,293 Listeners

Capital Allocators – Inside the Institutional Investment Industry by Ted Seides – Allocator and Asset Management Expert

Capital Allocators – Inside the Institutional Investment Industry

813 Listeners

All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

All-In with Chamath, Jason, Sacks & Friedberg

8,723 Listeners

The Memo by Howard Marks by Oaktree Capital Management

The Memo by Howard Marks

412 Listeners

ACQ2 by Acquired by Ben Gilbert and David Rosenthal

ACQ2 by Acquired

190 Listeners

The Logan Bartlett Show by by Redpoint Ventures

The Logan Bartlett Show

192 Listeners

No Priors: Artificial Intelligence | Technology | Startups by Conviction

No Priors: Artificial Intelligence | Technology | Startups

123 Listeners

BG2Pod with Brad Gerstner and Bill Gurley by BG2Pod

BG2Pod with Brad Gerstner and Bill Gurley

443 Listeners

Training Data by Sequoia Capital

Training Data

30 Listeners