Sarah Drinkwater

Established institutional LPs have backed solo GPs. University endowments and other institutional investors have funded several top managers. In doing so, these LPs seem to have made peace with the model’s structural risks.

In-group Cheems is the reflexive cynicism of advice-givers (whether that advice is solicited or otherwise) about someone’s dreams or ambitions.

1. young funds invest particularly early2. emerging VC focuses on trends at early stage3. new fund managers have different work experience

First, most venture capital firms use antiquated business models that prevent them from being able to move quickly, reach scale, and establish strong competitive moats. Most venture firms are built on a partnership model, like law firms.