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    Business

    Origins: Inside Venture Capital

    Hosted by a General Partner (GP) and a Limited Partner (LP), Origins dives into the venture capital ecosystem to learn how the people behind the money make decisions: How LPs choose VC funds to invest in, what drives performance in venture, the dos and don’ts of fundraising, what founders/entrepreneurs/CEOs need to do to raise a Seed, Series A and beyond, what it takes to go from emerging manager to franchise VC, and the latest private market trends and dynamics shaping the investment ecosystem.

    Origins is co-hosted by GP Nick Chirls and LP Beezer Clarkson.

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    Copyright: © OpenLP from Sapphire Partners

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    Latest Episodes:
    Inside the ServiceTitan IPO with Nina Achadjian Apr 08, 2025
    Show notes

    Nina Achadjian is a Partner at Index Ventures, where she invests across seed, venture, and growth stages in AI, enterprise software, and vertical SaaS. She sits down with Beezer Clarkson, LP at Sapphire Partners, and the two discuss Nina’s predictions for M&A in 2025, the importance of product market fit and what Nina looks for in a new hire. Plus, the two dig into Index’s recent IPO with ServiceTitan, and how they managed a high-profile exit in the difficult IPO market of 2024.


    Learn more about Sapphire Partners: ⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠https://openlp.vc⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠https://asylum.vc⁠⁠

    Learn more about Index Ventures: ⁠https://indexventures.com


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    CHAPTERS:

    0:00 Welcome to Origins

    1:49 The Trading Floors of London and New York4:54-The ServiceTitan IPO

    15:22 The Exit Window for SaaS Companies in 2025

    17:45 Predictions & AI

    25:10 More M&A vs. IPO

    30:34 Investment Lessons Learned at Index

    34:59 Hiring People Who Become Great Investors

    39:03 Hive & the Armenian Tech Ecosystem


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Minisode: Franchise Funds: Is Venture Broken? Mar 25, 2025
    Show notes

    Origins host Beezer Clarkson sits down with her colleague Laura Thompson, fellow LP and Partner at Sapphire Partners, to riff on her recent conversation with Thomas Kristensen, Partner at LGT Capital Partners. Together they discuss 2025’s sluggish exit market, and whether or not that’s a sign that venture is broken. They also discuss the importance of reinventing yourself to stay current with the market - even though LPs don’t love big changes - and if emerging managers can use founder product connectivity to their advantage.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠https://asylum.vc⁠⁠⁠

    Learn more about LGT Capital Partners: https://lgtcp.com


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.

    CHAPTERS:

    0:00 Welcome to Origins

    1:20 Aren’t We Supposed to Be Investing In Companies That Want to Go Public?

    4:33 Difficulties of Maintaining a Franchise

    6:24 ”There’s Gonna Be Some Really Difficult Vintages”

    7:22 Being Paranoid to Be a Great Investor

    10:33 Reintegrating AI


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Franchise Funds: Is Being a VC Franchise the Ultimate Goal with Thomas Kristensen Mar 11, 2025
    Show notes

    Thomas Kristensen, Partner at LGT Capital Partners, has decades of experience backing the top players in venture, but as an LP, doesn’t love the term "franchise fund.” He sits down with Bezer Clarkson, Partner at Sapphire Partners, to discuss why GPs can’t rest on their laurels, that being a franchise shouldn’t be every VC’s ultimate goal, and how LPs can dig deep to find firms with a great founder product– and avoid ones that may look like franchises but could have already peaked. The two also share their predictions for 2025 exits and why they think a lot of founders don’t want to be public company CEOs.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠https://asylum.vc⁠⁠⁠

    Learn more about LGT Capital Partners: https://lgtcp.com


    For a monthly roundup of the latest venture insights, including the newest Origins episodes, subscribe to the OpenLP newsletter – delivered straight to your inbox: https://subscribe.openlp.vc


    CHAPTERS:

    0:00 Welcome to Origins

    2:00 Are Franchise Funds Really Franchises?

    7:49 What Counts As Performance?

    12:03 How GPs Create (And Spend) Goodwill

    15:45 A Consistent Founder Product

    19:35 “There’s Plenty of Good Firms Out There That I Wouldn’t Necessarily Call Franchise Firms.”

    27:08 Franchise Funds and Succession

    35:43 Resting On Your Laurels

    39:17 “A More Critical Year In Venture Than We Want It to Be.”


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Revisiting Power Law VC Performance with David Clark Feb 20, 2025
    Show notes

    Beezer Clarkson, LP at Sapphire Partners, revisits her conversation from 2023 with David Clark, Investment Director at VenCap International plc. In this episode, she and co-host Nick Chirls, Partner at Asylum Ventures, dive into David’s nearly four decades of experience in investing in some of the most established VC funds across the US, Europe, China and India. David shares historical figures on where to find performance in venture and his findings from a recently uncovered 30 year trove of data from 400+ funds with 15,000+ underlying portfolio companies. In this data set, he found that 50% of VC investments don’t actually return capital. So how does an LP unlock performance and find the enduring managers?


    Learn more about Sapphire Partners: ⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠https://asylum.vc⁠⁠⁠

    Learn more about VenCap: https://www.vencap.com/


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    CHAPTERS:

    0:00 Welcome to Origins

    2:46 30 Years of Data at VenCap

    6:10 Almost Always Working With Established Managers

    11:19 A Very High Breakage Rate Between Funds One & Two

    16:01 Figuring Out Who the Next Great Ones Are

    24:41 Having At Least One Company That Returns the Entire Fund

    31:26 Building an LP Program

    36:18 Building a Program Where DPI Matters

    42:06 Looking Back On Predictions for 2024

    50:49 Looking for GPs to Get Ahead of the Curve


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Minisode: Franchise Funds: Grading Performance Jan 22, 2025
    Show notes

    Origins host Beezer Clarkson sits down with her colleague Laura Thompson, fellow LP and Partner at Sapphire Partners, to unpack her recent conversation with Jessica Archibald, a GP at Top Tier Capital. They discuss Jessica’s engineering-based analytical approach to answering the question “what makes a franchise?” and discuss some surprising things they learned - Jessica’s view that there’s only one real way to do succession, the importance of breaking good and bad news in a way that creates a performance culture, and whether or not they’re going to adopt Jessica’s policy of assigning letter grades to funds at Sapphire Partners.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

    Learn more about Top Tier Capital Partners: https://ttcp.com

    Read Laura Thompson’s blog on why venture reserves aren’t always a good thing:

    sapphireventures.com/blog/dirty-secret-venture-reserves-are-not-always-a-good-thing/

    Read Laura Thompson’s blog on fund recycling:

    sapphireventures.com/blog/fund-recycling-moves-the-needle-for-both-lps-and-gps-heres-how/

    Read Laura Thompson’s blog on QSBS:

    sapphireventures.com/blog/how-lps-gps-and-founders-can-leverage-qsbs-to-make-more-money/


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    CHAPTERS:

    0:00 Intro

    1:08 Jessica Takes It In a Different Direction

    3:41 Communicating with your LP base (So There Aren’t Surprises)

    7:15 Franchise Funds Are Intentional

    9:44 Getting to 1x DPI in Nine Years

    15:55 2x is the new 3x

    19:43 Giving Funds Letter Grades


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Franchise Funds: Metrics To Be Extraordinary with Jessica Archibald Jan 08, 2025
    Show notes

    Jessica Archibald is a GP and member of the Investment Committee at Top Tier Capital Partners, where she is co lead of the funds team and participates extensively in the capital formation efforts of the firm. She and Beezer Clarkson, LP at Sapphire Partners, sit down for the next episode in this miniseries on franchise funds - what it takes to build one, and how some firms lose their franchise status. Jessica digs into Top Tier’s numbers to discuss the importance of getting reliable DPI in a set timeframe, why it’s often better to bet on consistent 3x or even 1x returns, and the importance of succession in building a franchise fund.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

    Learn more about Top Tier Capital Partners: https://ttcp.com


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    CHAPTERS:

    0:00 Welcome to Origins

    2:10 Jessica’s Time with Top Tier

    4:08 Fund Graduation Rates

    8:43 Who is a Franchise Fund Today?

    13:21 ”Is There a DPI Number Somebody Has to Hit to Be Considered Extraordinary?”

    17:10 Can You Become a Franchise Fund By Doing Secondaries?

    25:08 The Range of Strategies in Franchise Funds

    31:32 Maintaining Franchise Status

    35:33 What Do Founders Want?

    39:42 ”Are You a Franchise Fund If You Haven’t Had Some Level of Succession?”

    48:02 End of Year Guidance For New Venture Funds


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Minisode: Franchise Funds: Why do LPs & Founders Care? Dec 17, 2024
    Show notes

    Origins host Beezer Clarkson sits down with her colleague Laura Thompson, fellow LP and Partner at Sapphire Partners, to discuss her recent conversation with Stephen Bluestein, Partner of Primary Investments at Adams Street and formerly Packard Foundation, about what it takes to make (and potentially later break) a franchise fund in venture. Together, Beezer and Laura debrief their top takeaways, including: do the hallmarks of a franchise differ between GPs and LPs (or even amongst different LPs); how does a franchise produce a lights-out 5x or 10x fund at their fund size; is a consistent 2x net good enough; parallels of sports franchises; and, does the right to win with the best founders mean you will then deliver the best returns?


    Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

    Learn more about Adams Street Partners: https://adamsstreetpartners.com

    Read Laura Thompson’s blog on why venture reserves aren’t always a good thing:

    sapphireventures.com/blog/dirty-secret-venture-reserves-are-not-always-a-good-thing/

    Read Laura Thompson’s blog on fund recycling:

    sapphireventures.com/blog/fund-recycling-moves-the-needle-for-both-lps-and-gps-heres-how/

    Read Laura Thompson’s blog on QSBS:

    sapphireventures.com/blog/how-lps-gps-and-founders-can-leverage-qsbs-to-make-more-money/


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Franchise Funds: Becoming (and Remaining) One with Stephen Bluestein Dec 10, 2024
    Show notes

    Stephen Bluestein has had an impressive career in Venture, beginning at Bessemer Venture Partners before moving to TCV, Light Street Capital, and the David and Lucille Packard Foundation, before landing in his current role as a partner in the primary investment team at Adams Street Partners. He sits down with Beezer Clarkson, LP at Sapphire Partners, to discuss what makes a fund a franchise. They discuss the importance of building and maintaining a brand that stands for something in the market, making investments that are consistent with your philosophy, and together, they zero in on the tipping point of when a fund can be officially considered a franchise.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

    Learn more about Adams Street Partners: https://adamsstreetpartners.com


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    CHAPTERS:

    0:00 Welcome to Origins2:15-Digging into Franchise Funds: Stephen’s Background

    6:48 What Defines a Franchise?

    15:30 How Long Does it Take to Become a Franchise?

    21:06 The Minimum Viable Performance Metric to be Considered a Franchise

    27:13 Pivoting From One Exceptional Fund into a Franchise

    33:21 How to Inculcate Exceptionality

    39:55 Diligencing Franchise Funds

    45:28 “Know Thyself”: A Message for Aspiring Franchise Funds


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Minisode: Building Google & Betting Big: Lessons from Wesley Chan Nov 26, 2024
    Show notes

    Nick Chirls, GP at Asylum Ventures, and Beezer Clarkson, LP at Sapphire Partners go deep into their recent conversation with Wesley Chan, the Co-Founder and Managing Partner of FPV Ventures. They unpack Wesley’s direct learnings from Sergey Brin coming up at Google, how it is the job of the investor to spot greatness, his views on company pivots (and how they oppose another recent guest, Mike Maples’ views on pivots), the difficulties of thinking independently in Silicon Valley, and the serendipitous way Wesley and Sapphire Partners wound up working together in the first place. Plus Nick, it turns out, is kind of a tax guy. He and Beezer discuss the hidden benefits of being an expert on QSBS.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

    Learn more about FPV Ventures: https://fpvventures.com

    Read Laura Thompson’s article on QSBS: sapphireventures.com/blog/how-lps-gps-and-founders-can-leverage-qsbs-to-make-more-money/

    Listen to Mike Maples & Jai Das discuss pivots: open.spotify.com/show/23H0tOX63xMChV2SErQKnZ?si=a9aab8b3e4c34dde


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



    Finding Founders Who Will Change the World with Wesley Chan Nov 13, 2024
    Show notes

    Wesley Chan is a true legend in Silicon Valley. He spent time at Microsoft and HP, and in 2002 he jumped to Google. There, he worked as Sergey Brin’s Chief of Staff and founded Google Analytics and Google Voice - all before then founding and leading the seed investing program at Google Ventures as GP. Under his tenure, GV was the first institutional check into companies like Plaid, Gusto, Lucid, and Robinhood. Wesley sits down with Nick Chirls, GP at Asylum Ventures, and Beezer Clarkson, LP at Sapphire Partners, to discuss his investment philosophy and what motivates him. Wesley discusses his early days at Google being pushed to make products that change the world, finding founders who have a 100-year plan, and being driven not by the desire to prove other people wrong, but to prove himself right.


    Learn more about Sapphire Partners: ⁠⁠⁠⁠⁠https://sapphireventures.com/sapphire-partners⁠⁠⁠⁠⁠

    Learn more about OpenLP: ⁠⁠⁠⁠⁠https://openlp.vc⁠⁠⁠⁠⁠

    Learn more about Asylum Ventures: ⁠⁠⁠⁠⁠https://asylum.vc⁠⁠⁠⁠

    Learn more about FPV Ventures: https://fpvventures.com


    Subscribe to the OpenLP newsletter for a monthly roundup of the latest venture insights, including the newest Origins episodes, delivered straight to your inbox.

    CHAPTERS:

    0:00 Introduction & the Burning Question

    3:11 Working for Sergey Brin: “If you’re not changing the world, you’re wasting your time.”

    9:22 They're not there to screw the world, they're there to improve the world.

    15:07 I'm not a university or your tuition money. We're giving you a check to go win.

    17:05 Knowing just enough to be dangerous

    27:58 The Exit Market: No one wants to test the market. LPs, hang on.

    33:07 FPV’s take on AI

    34:09 Founder success is the gift that keeps on giving


    Origins is produced by Sapphire Ventures in partnership with⁠⁠ Pod People.⁠


    Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Any offer or solicitation of securities by Sapphire may only be made in accordance with the current offering documents for a managed Fund in which Sapphire is an advisor. Additionally, Sapphire does not solicit or make its services available to the public; such offerings may only be provided to accredited investors and qualified purchasers defined within the Securities Act of 1933 and the Investment Company Act of 1940. Information provided reflects Sapphire Ventures’ views as of a particular time. Such views are subject to change at any point and Sapphire Ventures shall not be obligated to provide notice of any change. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. While Sapphire Ventures has used reasonable efforts to obtain information from reliable sources, Sapphire makes no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Nothing presented herein may be relied upon as a guarantee or assurance as to the future success of any particular investment opportunity or strategy. Past performance is not indicative of future results.



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