November 30, 2022

Patrick Chun at Juxtapose: How company creation models and studios work in VC, the squint and wedge framework of investing, and raising from blue-chip institutions

51 minutes

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

This week we are joined by Patrick Chun, Founder and Managing Partner of Juxtapose. Based out of New York, Juxtapose can best be described as a creation-oriented investment firm that leverages expertise to launch and invest in companies. The firm currently has over $500M in AUM across its funds.

I had so much fun recording this episode as Patrick was able to offer great insights from his extensive experience in creation-oriented investment models, including leading builds at Accretive and Thrive, as well as, working at top venture and growth equity firms like Bain Capital Ventures and Francisco Partners.

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About Patrick Chun:Patrick is a co-founder and managing partner at Juxtapose where he helps to manage the team across strategies and works closely with the firm’s leaders across the business, including concept development and talent identification. Patrick also participates meaningfully with the portfolio and its CEOs, including involvement at the board level.

Prior to founding Juxtapose, Patrick spent a significant portion of his career building and investing businesses at the earliest stages, including senior and partner-level experience at early-stage and at firms oriented towards company creation, such as Thrive Capital, Accretive, and Bain Capital Ventures.

He started his career at McKinsey & Company. Patrick has a BA from Harvard College, an MA from the Harvard Graduate School of Arts and Sciences, and an MBA from Harvard Business School.

In This Episode We Discuss:

02:04 Patrick’s journey and inspiration to co-found Juxtapose 11:21 The art and science of company creations models 16:10 Defining a firm that is part private equity, part venture capital in profile 19:42 The squint and wedge frameworks that Juxtapose uses to evaluate companies and ideas22:49 How they score ideas internally and decision making frameworks25:24 Fund construction methodologies29:09 How Patrick keeps interests aligned with founders in the co-creation model32:01 Finding the right CEO for their businesses37:50 How they raised capital from LPs, and what worked for them with institutions42:45 Communication cadence with their LPs46:16 Patrick’s overall view of the market and what innovations we’ll see in the coming years

I’d love to know what you took away from this conversation with Andrew. 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 Twitter.

Podcast Production support provided by Agent Bee Agency

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

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By Samir Kaji

4.9

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