How I Invest with David Weisburd

Latest Episodes:

E53: Northwestern University - Harisha Haigh on Manager Selection Mar 26, 2024

Show notes

Harisha Haigh sits down with David Weisburd to discuss the art of building and managing relationships in venture capital. They delve deep into Northwestern's venture and crypto strategies, dissect common mistakes made by top VCs, and evaluate the ideal characteristics of a venture manager. They also discuss the leading indicators of success of a venture fund, investment decision-making processes within VC firms, and how to approach underwriting the track record of a spin-out manager. (0:00) Episode Preview (2:30) Building and managing relationships in venture capital (4:29) Northwestern's crypto strategy (7:45) A deep dive into Northwestern's venture strategy (11:41) Common mistakes made by top VCs (14:51) Venture portfolio valuations and the secondary market (17:28) Evaluating the success of a venture fund (18:55) Sponsor: Deel (20:19) Investment decision making within VC firms (22:43) Underwriting track record for spin-out managers (25:09) 10X Capital Podcast Newsletter

E52: StepStone's Hunter Somerville on How to Scale LP Capital Mar 21, 2024

Show notes

Hunter Somerville sits down with David Weisburd to discuss StepStone's unique approach to venture capital, their transition to leading deals, and their full life cycle approach to investing. They delve into accessing companies in the secondary market, identifying potential in emerging managers, and StepStone's value-add to funds and companies. (0:00) Episode Preview (1:52) The strategy behind StepStone's diverse approach to venture (5:13) The transition from passive co-investing to leading (8:26) The strategy of being a full life cycle investor (10:13) Different ways to access companies in the secondary market (15:10) What to look for in emerging managers (19:20) Sponsor: Deel (21:36) StepStone's value-add (23:47) Current market trends (25:02) Interview wrap-up: David Weisburd and Hunter Somerville discuss StepStone (25:38) 10X Capital Podcast Newsletter

E51: How $1B+ Family Offices Generate Alpha in Venture Capital - Ron Diamond Mar 19, 2024

Show notes

Ron Diamond sits down with David Weisburd to discuss how $1B+ family offices generate alpha in venture capital, the #1 way family offices can avoid adverse selection, how family offices may disrupt private equity, and venture capital vs. private equity. (0:00) Introduction and Discussion on Private Equity and Venture Capital with Ron Diamond (2:21) Overview of Ron Diamond's Venture Fund Investment Process (4:28) How Family Offices are Disrupting Private Equity (7:32) Advantages and Structures of Family Offices in Venture Space (10:01) Concept of a Minimum Viable Family Office (12:59) Sponsor: Deal (14:12) Motivation Behind Conference Speakers and Concept of Giving Back (18:11) Insights into Ron Diamond's Business and Personal Life (20:33) Ron Diamond's Five Most Important Things in Life (21:07) Invitation to Subscribe to the 10X Capital Podcast Newsletter

E50: Founding GLG and Growing it into a $600 Million Revenue Powerhouse — Mark Gerson Mar 14, 2024

Show notes

Mark Gerson sits down with David Weisburd to discuss founding GLG and growing it into a $600 million revenue powerhouse, 3i and its community of world-class private investors and the importance of an ROI driven approach to non-profit work. (0:00) Introduction and discussion on building a marketplace business (1:29) Founding and growth of GLG (5:58) Importance of transactions and relationships in business (7:49) Role of Africa Mission Healthcare (10:24) The importance of an ROI driven approach to non-profit work (17:25) Sponsor: Deel (18:08) Impact and habit of giving (20:44) Business model of United Hatzalah and concept of habitual giving (22:18) Importance of relationships and advice on living a fulfilling life (24:29) Reflection on the interview with Mark Gerson and announcement of the 10X Capital Podcast Newsletter

E49: Top Tier Capital Founder David York on 30 Years in Venture Mar 12, 2024

Show notes

David York, Founder of Top Tier Capital Partners, sits down with David Weisburd to discuss Top Tier Capital's history of success, the value of partnership, and generational transfers. They also delve into their experiences with Limited Partners, the risks and rewards of backing GP "spinouts", and share reflections on David York’s 30 years in the VC industry. (0:00) Episode Preview (3:06) How Top Tier Capital Has Grown AUM (5:25) Improving Economic Development and Tech Growth in Europe (10:06) Effective Partnership Approach and Generational Transfers (13:54) Navigating Relationships with Limited Partners (14:38) Sponsor: Deel (16:38) Risks and Value of Backing Venture Capital "Spinouts" (21:29) Reflections on Being in Venture Capital Since 1993 (24:13) The Future of Tech and Top Tier's Outlook (25:23) 10X Capital Podcast Newsletter

E48: The Ford Foundation on Returning 28% CAGR While Improving Society Mar 07, 2024

Show notes

Roy Swan and Christine Looney from Ford Foundation's Mission Investments team sit down with David Weisburd to discuss patriotic capitalism, their investment themes, and strategy impact. They discuss balancing financial return with social impact, Swan's advisory role with the Church of England, and the importance of fairness and morality in capitalism. (0:00) Episode Preview - Patriotic Capitalism (1:09) Ford Foundation's Mission Investments team and their investment themes (3:54) Impact and returns of Ford Foundation's strategy (7:42) Sponsor: Deel (8:25) Ford Foundation's goals and balancing financial return and social impact (11:25) Roy Swan's role advising the Church of England and discussion on shared prosperity (15:07) Importance of fairness and morality in capitalism (15:40) Message to listeners from Roy and Christine (16:50) 10X Capital Podcast Newsletter (17:13) Recruiting and roles at Ford Foundation

E47: Sean Warrington of Gresham Partners on Avoiding False Signals in Investing Mar 05, 2024

Show notes

Sean Warrington of Gresham Partners sits down with David Weisburd and Erik Torenberg to discuss his investment decision-making process, extreme risk factors in diligence, and his approach to investing in emerging managers. The episode also covers reference processes in fund management, the impact of social proof and momentum in investing, and best practices of cutting-edge family offices. (0:00) Episode Preview (0:41) Introduction and Sean Warrington's journey to Gresham Partners (1:27) Sean Warrington discusses the strategy of Founders Fund (4:06) Sean Warrington's process of making investment decisions (5:47) Discussion on extreme risk factors in diligence (9:04) Sponsor: Deel (9:49) Sean Warrington's approach to investing in emerging managers (13:02) Process for references in fund management (15:06) 10X Capital Podcast Newsletter (17:03) Impact of social proof and momentum in investing (18:22) Best practices of cutting-edge family offices

E46: Atul Rustgi of Accolade on What is LP Value-Add and Can it Lead to Alpha? Feb 29, 2024

Show notes

Atul Rustgi sits down with David Weisburd to discuss his role as a GP & LP, the paradoxes of selling and building relationships in VC, and the strategy of focusing on funds under $100 million. They also delve into including biotech as a diversification strategy, the importance of blockchain and crypto exposure, family office investments, and the challenges and rewards of raising a fund during a market downturn. (0:00) Episode Preview (0:45) Introduction of Guest - Atul Rustgi: Role and Responsibilities as a GP (3:30) Discussion on the Paradoxes of Selling and Relationship Building in VC (6:03) Strategy Behind Focusing on Funds Under $100 Million and the Math Behind Ownership (11:14) Biotech as a Means to Diversify and Generate Alpha in VC (16:01) Sponsor: Deel (16:43) Blockchain and Crypto: The Importance of Exposure (21:03) Family Office Direct Investments and The Value of Reference Calls (24:57) Raising a Fund During a Market Downturn: Challenges and Rewards (26:17) 10X Capital Podcast Newsletter (26:42) Lessons Learned from a Long Career in Venture Capital by Atul Rustgi

E45: Lindel Eakman on Whether Venture Capital Returns are Higher than Hedge Funds, Private Equity, and Buyout Feb 27, 2024

Show notes

Lindel Eakman sits down with David Weisburd to discuss his journey in the industry, the sustainability of a GP style, and the importance of culture fit in venture capital. They delve into generational transitions, conflicts in venture firms, and the persistence of LP returns, as well as Lindel’s investment strategies, views on search funds, and thoughts on seeding platform opportunities. (0:00) Introduction and Lindel Eakman's journey in the industry (6:58) Sustainability of a GP style and the role of culture fit in venture capital (12:00) Generational transitions and conflicts in venture capital firms (17:59) Sponsor: Deel, HR and Payroll platform for global work (18:31) Persistence of LP returns and backing Michael Kim and Cendana (22:36) Personal investment strategies and views on search funds (25:04) 10X Capital Podcast Newsletter (25:11) Benchmarking and financial conservatism in venture capital investing (30:03) Seeding platform opportunities in the VC, LP space (31:15) Investment opportunities in secondaries (34:06) The future for Lindel Eakman and the role of founders in venture capital

E44: Chris Prestigiacomo of SWIB ($140B AUM) on What Pensions Look for in VCs Feb 22, 2024

Show notes

Chris Prestigiacomo, Portfolio Manager at the State of Wisconsin Investment Board (SWIB) sits down with David Weisburd and Erik Torenberg to discuss his journey, the role of private debt in venture portfolio management, and the Wisconsin Investment Board's asset allocation strategy. They delve into backing criteria for General Partners, venture capital's role in SWIB's strategy, and the unique governance structure of Wisconsin's retirement system. (0:00) Introduction and Chris Prestigiacomo's journey to becoming a portfolio manager (1:48) The role of private debt portfolio in venture portfolio management (3:02) The State of Wisconsin Investment Board's asset allocation strategy and venture returns (4:08) Criteria for backing General Partners and types of managers backed (7:27) Sponsor: Deal, an all-in-1 HR and payroll platform (8:03) Venture capital's role in SWIB's asset management and strategy for direct investments (10:19) The unique governance structure of the Wisconsin retirement system and SWIB (12:09) Chris Prestigiacomo's philosophy on portfolio management and re-up decisions (15:03) Erik Torenberg's perspective on VCs backing founders and portfolio construction (15:57) Sponsor mention: Carrie Alabs (16:19) Assessing managers through referencing and building relationships over time (17:30) Final thoughts from Chris Prestigiacomo on dynamic investing and openness to new opportunities

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