Friday Letter

Now is the time for operating partners to reconsider the skills they need to succeed.

Bonus structures vary wildly among private equity's biggest LPs.

The latest Q2 PitchBook report makes note of how hedge funds and other non-traditional investors are expressing a greater appetite for VC deals in various stages. How long this continues remains to be seen.

The number of examples of early-stage firms raising or talking about creating separate opportunity funds is increasing, which we explore in our latest analysis story.

Once again, early-stage venture firms are raising or talking about raising separate opportunity funds, or late-stage growth vehicles. How the LP community responds to this latest push will determine how the venture industry looks in the next few years.