Friday Letter

I find comfort in knowing that there are people launching new funds to find solutions to problems that affect all of humanity – people like Rosie Wardle, co-founder of Synthesis Capital, a newly launched food technology investor.

In an increasingly competitive market, venture firms can improve their odds of survival by teaming up with larger PE firms with whom they have synergy. This week Sofinnova Partners, a Paris-based early-stage life sciences investor, sold a minority stake to Apollo in return for Apollo committing to invest up to €1 billion to its funds.

VC funds performed admirably during the Global Financial Crisis and produced stellar returns in the following years, so you shouldn't be overly concerned about current economic uncertainty.

Venture Capital Journal identified six strategies GPs or LPs are using to increase diversity. Each is a real-world solution that other GPs or LPs can replicate without much difficulty.

Sequoia Capital India is right to make corporate governance a top priority. All VCs need to make "fiduciary" responsibility a regular part of their conversations.

Fintech start-up Sweater has come up with a way for unaccredited investors to put as little as $500 to work in a type of virtual venture fund. Sixty thousand people are already on the waiting list, but you can be sure more will follow.

'What has become clear through the proposed rules is that the venture capital exception is not an exception from SEC scrutiny,' says David Larsen, a managing director in Kroll’s Alternative Asset Advisory Practice.

Igor Rozenblit, who served as co-head of the SEC’s Private Funds Unit for more than 11 years, answers burning questions about the SEC's proposed new rules for private funds.

VCs who successfully raised debut funds share key insights.

A new report shows debut funds rebounding after taking a big hit in 2020, but first-time funds face a very challenging market.