New VCs aren’t 💀
as a venture investor @ a top 10 asset manager, I’ve seen the absolute rips that can take place in first time funds.
Some of the best performing first-time VC funds in history have a few things in common.
1. Thematically driven partners
2. A contrarian view of the world
3. Small fund (its substantially easier to 10x a $20m fund than a $100m or $1b)
4. Concentrated portfolio
Some of the best in my lifetime👇
@Lowercase I | Fund: $8.5m
💰Return: ~250x ($2bn + in proceeds)
Winners: Uber, Instagram & Twitter
——
@K9Ventures I | Fund: $6mn
💰Return: 100x ($600mn+ in proceeds)
Winners: Twilio, Lyft & Carta
——
@firstround I Fund Size: $6m
💰Return: 40x ($240mn+ in proceeds)
Winners: Roblox
Mucker Capital fund I | 27x return
Winners: Honey
——
@Initialized fund I | $7m fund 55x return @alexisohanian
Winners: Instacart, Coinbase & Rippling
——
@multicoin Fund I | $15m (huge return)
Winners: Solana, Helium
@paradigm Fund I | $100m+ (huge return)
Winners: key liquid positions
SNR Fund I | $6m (huge win)
Up next?
@_Frictionless_ Fund I 2023 | by @LoganJastremski@SolanaLegend@archetypevc Fund I by @ashegan@DannySursock
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