In this episode, you will learn:

• The distinction between responsibilities handled by fund managers, LPs, and founders
• Why is fundraising harder for VCs than it is for founders?
• How can you set your VC fund apart?
• A comparison between the portfolios of LPs and VCs
• Parallels between the roles and responsibilities of emerging managers and founders
• What are the implications of fund size on fund strategy?
• Why is it better to keep your portfolio concentrated?
• What is the relationship between TVPI, graduation rate, and returns?
• What is the process of recycling money? Why is it important?

About

Brian Ma is a partner at Iterative Capital and 3x founder turned investor. Brian was previously founder and CEO of Divvy Homes ($2B valuation), Weave (YC S14, acquired), and Decide (Series C company, acquired by eBay). In non-existent spare time, Brian enjoys dog parks with his german shepherd mix, rides on his motorcycle, and aping into interesting crypto projects.

Iterative is a YC style accelerator focused exclusively on Southeast Asia by the founders of Divvy (a16z, GIC), Weave (YCS14), and Decide (acquired by eBay) who have collectively raised $100M+ in VC. Iterative invests US $150K into early stage startups twice a year then works with them intensely for 3 months culminating in a Demo Day. Founded in 2021, Iterative's mission is to increase the GDP per capita of Southeast Asia through entrepreneurship.