What’s Your North Star?

Eric Sippel of Sippel Farb Family Office delves into the intricacies of investing in emerging managers. Eric outlines his meticulous emerging manager selection criteria, emphasizing his preference for specialists over generalists. He highlights key challenges of identifying good VCs as a Limited Partner (LP), and offers insights into the shifting venture capital landscape. In addition, he discusses the importance of supporting underrepresented venture capitalists for enhanced portfolio returns.

In this episode, you’ll learn:

[1:33] Venture’s main appeal is the ability to disrupt and create positive change.

[4:25] Is it hard to find a good VC to invest in as an LP? Why is that so?

[12:54] Eric Sippel’s emerging manager selection rubric; 3S (sourcing, selection, and stewardship/value add) - which is the most important S?

[26:18] What happens in the first, second meeting with an emerging manager? What questions should VCs expect from Eric?

[33:03] Investing in underrepresented VCs isn’t just ‘good’. It’s critical to having a broader aperture for outsized portfolio returns.

The non-profit organization that Eric is passionate about: Goodwill San Francisco Bay

About Eric Sippel

Eric Sippel invests in emerging managers through his family office, Sippel Farb Family Office. He’s also a philanthropist and current chair of Bay Area Goodwill.

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Aakar Vachhani, Managing Partner at Fairview Capital Partners, explores the crucial role of limited partners (LPs) in the venture capital ecosystem. He delves into the distinctive characteristics of venture capital as an asset class and sheds light on Fairview's role as a fund of funds, culture, investment strategy, areas of focus, and bullish stance on emerging managers. Additionally, he shares insights on trending topics that could influence the future of the venture capital industry.

In this episode, you’ll learn:

[6:15] Fairview employs a dual investment strategy to cover both established and niche areas in private markets.

[13:02] New, appropriately sized VC firms focusing on specific stages have the opportunity to generate significant returns.

[16:53] The venture capital landscape has undergone substantial changes in the past 30 years.

[27:00] Technology's pervasive influence creates vast opportunities for disruption across various industries.

[32:34] Advice for investors, especially emerging managers: Be a great investor and entrepreneur; value collaboration and sharing best practices with peers.

The non-profit organizations that Aakar is passionate about: San Francisco Achievers, New Breath Foundation

About Aakar Vachhani

Aakar Vachhani is a Managing Partner at Fairview Capital Partners and a key member of Fairview’s investment committee. In this role, he actively engages in research, due diligence, investment monitoring, and business development for Fairview's venture capital and private equity portfolios, as well as direct co-investment initiatives. He established and leads Fairview's San Francisco office.

Before joining Fairview, Aakar worked with Cambridge Associates, a prominent investment advisor catering to foundations, endowments, and corporate/government entities. Earlier in his career, he gained experience at MK Capital, a multi-stage venture capital firm with a specific sector focus on software and cloud services.

About Fairview Capital Partners

Fairview Capital Partners is a Connecticut-based investment management firm specializing in cutting-edge segments of the private markets. Founded nearly three decades ago, Fairview has evolved into one of the largest minority-owned investment firms in the United States, managing over $10 billion in fund capitalization. With a clientele including leading foundations, endowments, pension plans, and family offices, Fairview Capital's innovative and inclusive approach, coupled with its entrepreneurial spirit, continues to make an indelible mark on the venture capital industry.

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Lorenzo Thione, Managing Director at Gaingels, shares his journey from Italy to the U.S. and the pivotal life event inspiring his advocacy for inclusive venture capital representation. He delves into Gaingels' investment philosophy, emphasizing its focus on supporting diverse founders and investors. Lorenzo also offers insights for today's founders, spotlighting game-changing technologies like artificial intelligence.

In this episode, you’ll learn:

[3:50] Underrepresented communities of founders and investors significantly influence the growth of the venture capital ecosystem

[9:26] How Gaingels provides universal access to the wealth creation potential of venture capital

[16:59] Cloud technology revolutionized starting companies in the last decade, while artificial intelligence is the current game changer

[24:09] Principles behind Gaingels investment approach

[28:53] Why founders should establish relationships with investors before pitching

The non-profit organization that Lorenzo is passionate about: StartOut

About Lorenzo Thione

Lorenzo Thione is a Managing Director at Gaingels. He is a serial entrepreneur and investor, known for his diverse contributions at the intersection of technology, art, commerce, and social impact. A Tony Award-winning Broadway producer for "Hadestown" and co-creator/producer of the George Takei musical "Allegiance," he also directed/produced its record-breaking 2016 film. Lorenzo co-founded Social Edge and previously co-founded Powerset (acquired by Microsoft in 2008) and Artify. A prominent LGBT advocate, he co-founded and is board chair emeritus of StartOut, a leading non-profit fostering LGBT entrepreneurship. Lorenzo is an active investor, board member, and advisor to numerous startups.

About Gaingels

Gaingels is a Vermont-based LGBTQIA+/Allies private investment syndicate, dedicated to fostering diversity and inclusion within the venture capital ecosystem. With over 2000 individual members, including accredited investors, Gaingels actively supports innovation economy companies committed to building diverse and inclusive leadership. Their unique approach involves members contributing beyond financial investment, providing introductions, advice, and connections to portfolio companies. Some of the companies it has backed include: Shimmer, Leap AI, Base Operations, Overplay, Abbey Cross, Zette, Magma, Cambium, kinship among others.

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Anne Dwane, a Partner at Village Global, shares her commitment to supporting amazing entrepreneurs working on big ideas. Leveraging her background as an entrepreneur-turned-investor, Anne underscores the significance of establishing networks early and explores the feasibility of launching a company during economic downturns. Moreover, she sheds light on the dynamic role of venture capitalists, particularly within a VC industry confronted by distinctive challenges.

In this episode, you’ll learn:

[2:00] Invest in your networks early.

[5:54] Starting a company during an economic downturn: is it a good idea?

[9:43] The multifaceted role of VCs as super connectors and coaches.

[16:20] The best founders identify opportunities in the current world and articulate a clear vision of how to navigate toward a better future.

[25:34] Founders deserve investors who are wholeheartedly committed and thoroughly convinced of the startup's potential for success.

The non-profit organization that Anne is passionate about: UCSF Benioff Children's Hospital's Center for Child Protection

About Anne Dwane

Anne Dwane, Co-Founder & Partner at Village Global, has a wealth of experience with a background that includes tech company founding, venture-backed CEO positions, and executive roles in public companies. Over her 20-year career, she has successfully managed P & Ls and excelled in scaling operations from startup to IPO and building effective teams. Notable achievements include leading companies to successful acquisitions by Monster and Chegg, as well as managing P&L responsibilities for Chegg before and after its IPO (valued at $1 billion). Currently, she serves on the board of Harvard Business Publishing.

About Village Global

Village Global is a Silicon Valley-based venture capital firm dedicated to supporting  amazing entrepreneurs working on big ideas. With a typical investment range of $250,000 to $1.5 million, the firm goes beyond funding, offering founders access to a vibrant community, expert guidance, and transformative introductions. Chaired by Reid Hoffman and backed by esteemed visionaries such as Jeff Bezos, Bill Gates, Mark Zuckerberg, Anne Wojcicki, and more, Village Global has an impressive portfolio that includes companies like Excarta, Simply Homes, Juno, Evisort, Siena AI, Canopy, Risk Ledger, OpenCover, Boost Capital, Atmosfy, among others.

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Patrick Mork, founder and CEO of LEAP, shares his career journey and underscores the pivotal role of coaching in nurturing founder success. Drawing from his extensive leadership and coaching experience, Patrick imparts valuable advice to founders and leaders, addressing the intricacies of entrepreneurship and leadership. Topics covered include professional development, navigating career maneuvers, building a purpose-driven business, and prioritizing company culture. He also offers insights on finding the most suitable coach.

In this episode, you’ll learn:

[2:18] Patrick’s real-life story of maneuvering the challenges of an inevitable career change.

[7:19] Unexpected paths can lead to entrepreneurial success.

[10:10] True fulfillment in business comes from building a purpose-driven business that addresses societal challenges.

[15:57] What's the difference between therapy and coaching?

[19:20] How coaching helps with self-awareness, self-confidence, psychological safety and communication.

[26:03] Whatever the size of the company, company culture should never be an afterthought.

The non-profit organization that Patrick is passionate about: Cousteau

About Patrick Mork

Patrick Mork is the founder and CEO of LEAP. He is a startup CEO coach, motivational speaker and author of Step Back and LEAP. An ex-Google executive and serial tech maven, Patrick previously worked for a renowned company in Silicon Valley as Chief Marketing Officer. During his tenure at Google, he built and led the marketing team that created and launched the Google play brand. He founded LEAP as a way of helping early-stage companies to reinvent themselves by creating cultures that empower their employees to do work that gives them meaning and purpose.  

About LEAP

LEAP is a Chile-based cultural transformation company that helps leaders build company cultures of meaning and purpose. Prior to starting LEAP he spent over 20 years in various marketing leadership roles in several high profile technology startups and at Google where he built and led the marketing team that launched the Google Play brand.

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Justin Dyer, Chief Investment Officer at AWM Capital, shares insights into AWM's venture strategies and human-centered approach to athlete wealth management. He talks about the critical role of networks in VC and gives useful tips for choosing the right limited partner. 

In this episode, you’ll learn:

[6:13] AWM Capital's human-centered approach to athlete wealth management

[9:14] Venture capital's role in family office asset allocation

[16:15] The pivotal role of networks in venture capital

[19:36] Assessing venture funds, navigating both the easy and challenging aspects

[28:13] Tips on selecting the best Limited Partner for your company

The non-profit organization that Justin is passionate about: RAISE Global

About Justin Dyer

Justin Dyer is the Chief Investment Officer, Director of Wealth Strategy, and Partner at AWM Capital. He leads AWM’s investment committee, research teams and investment operations. He has served on LP Advisory Committees and has been on the selection committee for the RAISE Global Conference, which is the premier community for forward-thinking venture capital investors and emerging fund managers. 

About AWM Capital

AWM Capital is a multi-family office serving professional athletes, entrepreneurs, and business professionals, with a deeply-rooted belief that wealth goes beyond the financial.

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Steve Pretre, partner at World Innovation Lab (WiL), takes us on an extraordinary journey from his upbringing in Silicon Valley to becoming a key player in the insurtech and venture capital worlds. He shares the thrilling journey of starting Metromile and leading it through the IPO stage, highlighting some of the biggest challenges of starting an insurtech startup. Steve also dispels the skepticism about corporate venture capital firms (CVCs).

In this episode, you’ll learn:

[3:47] Discover invaluable lessons from the pioneers of the insurtech industry

[7:40] The story of Metromile: “I was excited and naive enough to think that we could pull that off.” - Steve Pretre

[15:43] Early-stage investing isn't just about funds but also about providing strategic support to startups

[22:40] Insights into corporate venture capital and why alignment of goals is paramount

[27:18] The importance of staying true to your business vision and not blindly following VC advice

The non-profit organization that Steve is passionate about: Woodside Wildebeests

About Steve Pretre

Steve Pretre is a partner at World Innovation Lab. He is a veteran of multiple successful startups and has deep operating experience across product development, marketing, and strategic planning. Prior to joining World Innovation Lab, Steve was the co-founder and CEO of Metromile, an early innovator that paved the path for the current wave of insurance startups. He also held executive roles at Asurion, leading their mobile applications business unit as the company grew.

About World Innovation Lab

World Innovation Lab is a venture capital fund supported by various governments and global corporations. WiL invests in companies looking to expand into new markets. They assist US startups in entering Japan and Asia and support Japanese startups in global expansion. Notable recent direct investments include Algolia, Asana, Automation Anywhere, Auth0, DataRobot, Kong, Mercari, MURAL, TransferWise, and Unqork. WiL also supports established and emerging venture funds. Additionally, they collaborate with corporate investors to enhance innovation through new business creation, startup partnerships, and cultural change. WiL acts as a bridge between startups and corporations in key innovation hubs globally, initially focusing on Japan and the US.
 
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Miles Dieffenbach, Director of Investments at Carnegie Mellon University Endowment, offers valuable insights, personal anecdotes, and perspectives on the fundamentals of venture capital. He covers topics such as GP commit, navigating the denominator effect, and the broader economic trends that impact the venture capital industry.

In this episode, you’ll learn:

[4:51] How venture capital drives innovation and the crucial role of limited partners (LPs) in this process

[14:25] Factors LPs consider when selecting fund managers

[22:05] Identifying positive signs of fund growth and red flags that LPs watch out for

[27:56] The evolving role of allocators in the future of venture capital and how founders need to rethink what capital and VC relationships mean to them

[32:28] Dive into the ongoing debate surrounding GP commit

The non-profit organization that Miles is passionate about: CMU

About Miles Dieffenbach

Miles Dieffenbach is the Director of Investment at Carnegie Mellon University Endowment He manages the $3.6 billion endowment across a comprehensive global portfolio of all major asset classes, including private equity, venture capital, public equities, hedge funds, real estate, distressed opportunities and fixed income.
Fun fact: Miles initially planned on being a professional footballer. He served as Penn State Varsity Football Captain and had a short stint as offensive guard at Pittsburgh Steelers. He jokingly remarks that he feels like he’s playing a similar role as the director of investments.

About Carnegie Mellon University Endowment

Carnegie Mellon University Endowment is an endowment based in Pittsburgh, Pennsylvania. The fund provides a permanent source of income to support the university's missions. It also provides a stable, predictable, and growing stream of resources for current use in achieving the academic goals of the university, while preserving the purchasing power of the fund for future generations. The investment office evaluates, selects, and monitors current and prospective investments in which to allocate the university's endowment assets. The fund’s assets are managed by the executive management team.  

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Aram Verdiyan, Partner at Accolade Partners, offers a comprehensive exploration of the LP landscape and the strategies that drive success in the world of venture capital. Aram emphasizes the importance of building strong relationships with VCs and sheds light on how general partners (GPs) think. He also discusses his views on returns generation, comparing concentrated and diversified investments.

In this episode, you’ll learn:

[4:07] Accolade’s contrarian portfolio building: leading with concentrated investments

[13:06] Why does it take so long to invest in a VC fund?

[22:19] Most common questions from General Partners to LPs

[24:32] Fund size should be the output, not an input

[29:39] Blockchain investing versus traditional investing

[34:05] Focusing on real valuations will make venture capital better.

The non-profit organization that Aram is passionate about: AGBU

About Aram Verdiyan

Aram Verdiyan is a partner at Accolade Partners. Previously, he worked on the investment team at Andreessen Horowitz and before that in BD, sales and marketing at Aviatrix, a cloud native enterprise software company.

About Accolade Partners

Accolade Partners is a DC-based fund of funds organized primarily to invest in a diversified portfolio of top-tier venture capital and growth equity funds principally investing in technology and healthcare. Accolade’s investment focus is the United States. The fund of funds has invested in many VC firms including Equal Ventures, Zeev Ventures, Wonder Ventures, Notation Capital, Mucker Capital among others.
 
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Theresa Blissing, founder of Accelerating Insurance and the Asia InsurTech Podcast, delves into the transformative potential of emerging technologies in the insurance sector. She offers valuable insights for founders aiming for success in the insurance industry, irrespective of their operational geography. Additionally, she sheds light on noteworthy trends, opportunities, and challenges facing insurtech startups, with a particular focus on the dynamic landscape in Asia.

In this episode, you’ll learn:

[1:54] Getting into insurance - Theresa Blissing’s life-changing mission

[5:43] Insurance is everywhere

[8:27] Future of Insurance in Asia: Diversity and Nuances

[21:33] Stay on top of how technology is helping reshape the insurance industry on the Asia InsurTech Podcast.

The non-profit organization that Theresa is passionate about: Girl Gone International

About Theresa Blissing

Theresa Blissing is the founder and director of Accelerating Insurance, an innovation advisory firm in Southeast Asia. With a decade at multinational insurer Generali and a leadership role at German consultancy Detecon, she brings extensive industry experience. Theresa is also a trailblazer in big data and analytics within insurance, contributing to some of the first academic studies on its adoption in Southeast Asia.

As a thought leader, Theresa founded the Asia InsurTech Podcast and InsurTech Mentors, creating unique platforms for industry experts across Asia. Her commitment to knowledge sharing extends to speaking engagements at conferences like Asia Insurance Review, Techsauce, Uniglobal, and InsurTech Insight, as well as lecturing at institutions such as the Singapore College of Insurance and Thammasat University.

About Accelerating Insurance

Accelerating Insurance is an insurance consultancy that navigates the insurance landscape, helping insurers cut through the noise, understand emerging trends, and demystify technology. By closely monitoring InsurTech developments and sharing success stories, Accelerating Insurance contributes to reshaping the future of insurance, advocating for meaningful change in both technology and the people driving innovation.

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