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1. The Idea That Large Funds Cant Have Great Returns Is BS Our best performing fund ever was a $1BN Fund. In that fund: - Databricks returned 7x the fund. - Coinbase returned 5x the fund. - Github, Digital Ocean and Lyft are also in that fund. So the... show more

Harry Stebbings

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101,603 views • 7 months ago •via X (Twitter)

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From Michael Kim on the best performing VC funds ever: "Chris Chris Sacca 🇺🇸's $8 million Fund 1 was 204x DPI. Chris had a great nose. He was in Instagram, Twitter, Uber, and Stripe. That's pretty good. The best performing fund in our portfolio is Mucker Capital Capital. Their $12 million Fund 1 was 20x DPI. They owned 7% of Honey, and got $280 million when it sold to PayPal for $4 billion in cash. Another is Dr. Dr. Manu Kumar 👋🏽. We're not in his Fund 1, but that was an 80x. He invested in Lyft, Twilio, and was a co-founder of Carta. He's the guy who actually coined the phrase "pre-seed" 12 years ago."

From Michael Kim on the best performing VC funds ever: "Chris Chris Sacca 🇺🇸's $8 million Fund 1 was 204x DPI. Chris had a great nose. He was in Instagram, Twitter, Uber, and Stripe. That's pretty good. The best performing fund in our portfolio is Mucker Capital Capital. Their $12 million Fund 1 was 20x DPI. They owned 7% of Honey, and got $280 million when it sold to PayPal for $4 billion in cash. Another is Dr. Dr. Manu Kumar 👋🏽. We're not in his Fund 1, but that was an 80x. He invested in Lyft, Twilio, and was a co-founder of Carta. He's the guy who actually coined the phrase "pre-seed" 12 years ago."

The Peel

63,163 views • 1 year ago

Sunshine: It's not a slush fund. It's an anti weaponization fund. Why do we have the fund? Because a contractor pled guilty to leaking Trump’s tax returns. Phillip: What does that have to with a fund that Trump said is meant to compensate January 6th rioters? He said, I'm proud I pardoned these people and they deserve money from the government. Sunshine: We had grandmas that were in jail for two years. Boykin: I'm really embarrassed for you

Sunshine: It's not a slush fund. It's an anti weaponization fund. Why do we have the fund? Because a contractor pled guilty to leaking Trump’s tax returns. Phillip: What does that have to with a fund that Trump said is meant to compensate January 6th rioters? He said, I'm proud I pardoned these people and they deserve money from the government. Sunshine: We had grandmas that were in jail for two years. Boykin: I'm really embarrassed for you

Acyn

282,777 views • 2 months ago

HAGERTY: Think about it -- sex change operations in Guatemala? LGBTQ programs in Serbia? BRENNAN: The US government does not fund sex change operations or fund Hamas. You know that though. Do you have any evidence that the govt is funding a terrorist group? HAGERTY: Certainly. The funds that went to UNRWA BRENNAN: UNRWA is not a terrorist group

HAGERTY: Think about it -- sex change operations in Guatemala? LGBTQ programs in Serbia? BRENNAN: The US government does not fund sex change operations or fund Hamas. You know that though. Do you have any evidence that the govt is funding a terrorist group? HAGERTY: Certainly. The funds that went to UNRWA BRENNAN: UNRWA is not a terrorist group

Aaron Rupar

916,597 views • 1 year ago

BREAKING: Carney is asking Canadians to invest in the new Sovereign Wealth Fund. If he believes so much in it, why are 95% of his investments in the US? Here’s what’s worse: when the Minister of Finance was asked, what the projected returns are for investors, he couldn’t answer the question! He was stumbling his way through the answer. He doesn’t know! Northern Perspective did a phenomenal investigation: did you know, that when Mark Carney visited UAE, Japan, Australia, Qatar, all of these countries have wealth funds? THAT HAVE BILLIONS INVESTED IN BROOKFIELD. This isn’t the Sovereign Debt Fund, it’s the Sovereign Brookfield Fund. Carney needs to either sell his shares of Brookfield, or ensure $0 go to Brookfield so the fund, THAT HIS OFFICE CONTROLS, doesn’t enrich himself in the process. Spidey senses are off the charts with this.

BREAKING: Carney is asking Canadians to invest in the new Sovereign Wealth Fund. If he believes so much in it, why are 95% of his investments in the US? Here’s what’s worse: when the Minister of Finance was asked, what the projected returns are for investors, he couldn’t answer the question! He was stumbling his way through the answer. He doesn’t know! Northern Perspective did a phenomenal investigation: did you know, that when Mark Carney visited UAE, Japan, Australia, Qatar, all of these countries have wealth funds? THAT HAVE BILLIONS INVESTED IN BROOKFIELD. This isn’t the Sovereign Debt Fund, it’s the Sovereign Brookfield Fund. Carney needs to either sell his shares of Brookfield, or ensure $0 go to Brookfield so the fund, THAT HIS OFFICE CONTROLS, doesn’t enrich himself in the process. Spidey senses are off the charts with this.

Mario Zelaya

30,832 views • 3 months ago

Active v/s Passive: Where should you invest? If you are an investor, you have to flip the question from How many funds beat the index? to Which fund beats the index consistently over a 3/5 yrs time frame? You can use rolling returns analysis to determine which fund consistently outperforms the index. Any fund that has outperformed the index for more than 70% of the time over 3/5 yrs t/f is a good fund imho. I had spoken about it in my podcast with Groww. Check it out.

Active v/s Passive: Where should you invest? If you are an investor, you have to flip the question from How many funds beat the index? to Which fund beats the index consistently over a 3/5 yrs time frame? You can use rolling returns analysis to determine which fund consistently outperforms the index. Any fund that has outperformed the index for more than 70% of the time over 3/5 yrs t/f is a good fund imho. I had spoken about it in my podcast with Groww. Check it out.

Sandeep Kulkarni

30,071 views • 9 months ago

🚨 OMG. Sen. Chris Van Hollen (D-MD) just got DEMOLISHED after insinuating President Trump's $1.7B anti-weaponization fund would pay a CHILD M*LESTER AG Todd Blanche was NOT having his BS 🔥 HOLLEN: An individual was pardoned by POTUS and m*lested 2 children, and tried to buy their silence saying he'd pay funds he hoped to get from YOUR slush fund. Can you make sure that person is not eligible?! BLANCHE: You're OBVIOUSLY LYING in your question! The 'slush fund' didn't EXIST! HOLLEN: Mr. Attorney General, don't ever do that again!! BLANCHE: Do WHAT again? HOLLEN: He said he expected to get the funds. BLANCHE: You said SLUSH FUND, that didn't EXIST when he said that. HOLLEN: You've been telegraphing the slush fund all along that you'd help the president's friends. BLANCHE: Point to a SINGLE telegraph I've made. What telegraph have I made? HOLLEN: Do you know it's a criminal offense to LIE to Congress?! BLANCHE: I am VERY well aware of that. Hollen should resign. Freaking disgrace.

🚨 OMG. Sen. Chris Van Hollen (D-MD) just got DEMOLISHED after insinuating President Trump's $1.7B anti-weaponization fund would pay a CHILD MLESTER AG Todd Blanche was NOT having his BS 🔥 HOLLEN: An individual was pardoned by POTUS and mlested 2 children, and tried to buy their silence saying he'd pay funds he hoped to get from YOUR slush fund. Can you make sure that person is not eligible?! BLANCHE: You're OBVIOUSLY LYING in your question! The 'slush fund' didn't EXIST! HOLLEN: Mr. Attorney General, don't ever do that again!! BLANCHE: Do WHAT again? HOLLEN: He said he expected to get the funds. BLANCHE: You said SLUSH FUND, that didn't EXIST when he said that. HOLLEN: You've been telegraphing the slush fund all along that you'd help the president's friends. BLANCHE: Point to a SINGLE telegraph I've made. What telegraph have I made? HOLLEN: Do you know it's a criminal offense to LIE to Congress?! BLANCHE: I am VERY well aware of that. Hollen should resign. Freaking disgrace.

Eric Daugherty

279,414 views • 2 months ago

Absolute bombshell. A US Congressman refuses to fund the unauthorized war in Iran, exposing that the Pentagon was given a $150 billion slush fund and still cannot pass a basic audit. They have no idea where the money is going!

Absolute bombshell. A US Congressman refuses to fund the unauthorized war in Iran, exposing that the Pentagon was given a $150 billion slush fund and still cannot pass a basic audit. They have no idea where the money is going!

Furkan Gözükara

233,728 views • 4 months ago

The PM Cares Fund is a massive Scam that people have forgotten. A tax free fund that has govt seal, Named after Prime Minister's office, collected at the critical period of pandemic crisis, govt institutions, PSUs and govt employees forced to donate, Funds collected from pvt companies and foreign companies as well. How can such a fund be a private fund with no transparency, no data released on amounts collected and what was done with the money!

The PM Cares Fund is a massive Scam that people have forgotten. A tax free fund that has govt seal, Named after Prime Minister's office, collected at the critical period of pandemic crisis, govt institutions, PSUs and govt employees forced to donate, Funds collected from pvt companies and foreign companies as well. How can such a fund be a private fund with no transparency, no data released on amounts collected and what was done with the money!

Vinay Kumar Dokania

36,540 views • 2 months ago

Norway’s Sovereign Wealth Fund was built on the back of Norway’s Oil & Gas REVENUES. It’s now so big that it funds 25% of Norway’s national budget. It also holds so much wealth that every Norwegian can get US$385 000 at any moment. Zimbabwe is following suit. The Mutapa Investment Fund is Zimbabwe’s Sovereign Wealth Fund. It owns and manages natural resources & companies (parastatals/SOEs) on behalf of the people of Zimbabwe. President President of Zimbabwe IMPLEMENTED the concept of the Sovereign Wealth Fund after years of lying idle. The purpose of this fund is to create and preserve wealth for current and future generations. The fund will be able to invest in business ventures in Zimbabwe & even in foreign countries. Dr Mangudya, the CEO of the Mutapa Investment Fund, explains the significance of this fund.

Norway’s Sovereign Wealth Fund was built on the back of Norway’s Oil & Gas REVENUES. It’s now so big that it funds 25% of Norway’s national budget. It also holds so much wealth that every Norwegian can get US$385 000 at any moment. Zimbabwe is following suit. The Mutapa Investment Fund is Zimbabwe’s Sovereign Wealth Fund. It owns and manages natural resources & companies (parastatals/SOEs) on behalf of the people of Zimbabwe. President President of Zimbabwe IMPLEMENTED the concept of the Sovereign Wealth Fund after years of lying idle. The purpose of this fund is to create and preserve wealth for current and future generations. The fund will be able to invest in business ventures in Zimbabwe & even in foreign countries. Dr Mangudya, the CEO of the Mutapa Investment Fund, explains the significance of this fund.

𝑲𝒖𝒅𝒛𝒂𝒊 𝑴𝒖𝒕𝒊𝒔𝒊

18,333 views • 6 months ago

The PMO has reportedly sent a note to the Lok Sabha Secretariat stating that questions in Parliament regarding three funds PM CARES Fund, Prime Minister’s National Relief Fund (PMNRF), and the National Defence Fund (NDF) will not be answered under Rule 41. Background: •PMNRF was created in January 1948. •National Defence Fund was created in 1962. •PM CARES Fund was established on 26 March 2020. Earlier, questions about the first two funds were answered in Parliament sometimes partially but not outright denied like this. Among the three, PM CARES reportedly has the highest balance. Sources of funding: •Public donations •CSR contributions •Foreign donations The fund has stated: •₹300 crore was spent under PM CARES for Children •₹90 crore and ₹100 crore were spent on oxygen cylinders However, detailed information on procurement, vendors, and spending breakdown has not been publicly disclosed. The government’s position is that since these funds do not receive money from the Consolidated Fund of India, they are not obligated to disclose details in Parliament or under CAG audit. Wouldn’t greater transparency build stronger public trust? What do you think? Jai Hind. Jai Bharat. 🇮🇳

The PMO has reportedly sent a note to the Lok Sabha Secretariat stating that questions in Parliament regarding three funds PM CARES Fund, Prime Minister’s National Relief Fund (PMNRF), and the National Defence Fund (NDF) will not be answered under Rule 41. Background: •PMNRF was created in January 1948. •National Defence Fund was created in 1962. •PM CARES Fund was established on 26 March 2020. Earlier, questions about the first two funds were answered in Parliament sometimes partially but not outright denied like this. Among the three, PM CARES reportedly has the highest balance. Sources of funding: •Public donations •CSR contributions •Foreign donations The fund has stated: •₹300 crore was spent under PM CARES for Children •₹90 crore and ₹100 crore were spent on oxygen cylinders However, detailed information on procurement, vendors, and spending breakdown has not been publicly disclosed. The government’s position is that since these funds do not receive money from the Consolidated Fund of India, they are not obligated to disclose details in Parliament or under CAG audit. Wouldn’t greater transparency build stronger public trust? What do you think? Jai Hind. Jai Bharat. 🇮🇳

Praffulgarg

12,669 views • 5 months ago

Senator Senator Chris Van Hollen to Todd Blanche: "There's also an individual who, after being pardoned by the president, went on to molest two children. And that person actually tried to buy the silence of these children by saying that he would pay them some of the funds that he was hoping to get from your slush fund. Can you commit to making the rule so that that person is not eligible for a payout under this fund?"

Senator Senator Chris Van Hollen to Todd Blanche: "There's also an individual who, after being pardoned by the president, went on to molest two children. And that person actually tried to buy the silence of these children by saying that he would pay them some of the funds that he was hoping to get from your slush fund. Can you commit to making the rule so that that person is not eligible for a payout under this fund?"

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Declining MMF Rates: Money market fund managers have advised that the recent yield decline in most unit trusts is no cause for alarm. Branji reports on why the money market fund you use may have shed returns and by how much. #NTVTonight Number8, the poet

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NTV Kenya

69,288 views • 1 year ago

Did Ann Miura-Ko really make a 10,000x return on Lyft? Ann Miura-Ko says every venture capitalist is looking for a company that can return the entire fund. For Floodgate, Lyft was one of those companies. They invested when Lyft was valued at just $5 million, sold some shares along the way, and sold more at the IPO. Ann explains why Lyft became a multiple fund returner: “You’re always looking for a multiple fund returner and that was definitely a multiple fund returner.” “We got in at a $5 million dollar valuation.” “We sold a little bit along the way actually at a price that was even higher than it is today.” “We were able to get a good chunk out and then at the IPO as well.” “I can’t give you the exact returns but it was a multiple fund returner just on its own.” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

Did Ann Miura-Ko really make a 10,000x return on Lyft? Ann Miura-Ko says every venture capitalist is looking for a company that can return the entire fund. For Floodgate, Lyft was one of those companies. They invested when Lyft was valued at just $5 million, sold some shares along the way, and sold more at the IPO. Ann explains why Lyft became a multiple fund returner: “You’re always looking for a multiple fund returner and that was definitely a multiple fund returner.” “We got in at a $5 million dollar valuation.” “We sold a little bit along the way actually at a price that was even higher than it is today.” “We were able to get a good chunk out and then at the IPO as well.” “I can’t give you the exact returns but it was a multiple fund returner just on its own.” Ann Miura-Ko: Why Great Businesses Still Fail via Trailblazers Podcast

Erica Wenger

12,315 views • 23 days ago

One of the best hedge fund managers of the last 30 years, Joel Greenblatt, earned over 40% a year for two decades. He found a serious flaw in ordinary indexes like the S&P 500 and the Russell 1000. Because of it, the indexes automatically buy too much of the overpriced stocks and too little of the cheap ones. In this video he reveals exactly what that flaw is. "The best mutual fund of the 2000s returned 18% a year. The average investor in that same fund lost 11% a year" "Why?" "Because every time the fund started to lag, people left. Every time the market fell, people left. And every time the fund did great, people piled in right after the run." Watch how the individual investor can beat the big players ↓

One of the best hedge fund managers of the last 30 years, Joel Greenblatt, earned over 40% a year for two decades. He found a serious flaw in ordinary indexes like the S&P 500 and the Russell 1000. Because of it, the indexes automatically buy too much of the overpriced stocks and too little of the cheap ones. In this video he reveals exactly what that flaw is. "The best mutual fund of the 2000s returned 18% a year. The average investor in that same fund lost 11% a year" "Why?" "Because every time the fund started to lag, people left. Every time the market fell, people left. And every time the fund did great, people piled in right after the run." Watch how the individual investor can beat the big players ↓

Damir Akaza

1,175,222 views • 29 days ago

WATCH | FSCA Retirement Funds Frontline Conduct Supervision Manager Takalani Lukhaimane says that around 16,000 employers are not contributing to the pension fund, resulting in R8.3 billion in arrears and affecting 600,000 members.

WATCH | FSCA Retirement Funds Frontline Conduct Supervision Manager Takalani Lukhaimane says that around 16,000 employers are not contributing to the pension fund, resulting in R8.3 billion in arrears and affecting 600,000 members.

SABC News

23,622 views • 25 days ago

SharpLink CEO and former BlackRock Exec Joseph Chalom on what the inflection point in tokenization will look like “We went through a period in tokenization where you had individual projects tokenized and everyone got excited. Franklin Templeton tokenized a money market fund called BENJI, then BlackRock did BUIDL, then our friends at Apollo did ACRED. So you’re going organically one fund or project at a time.” “What I’m looking for is some asset manager to wake up one day and not tokenize a fund but tokenize a fund complex measured in the hundreds of billions… When you see [massive one-time step functions], you know you’re at the right point of tokenization and it’s irreversible. So not individual projects, but entire complexes and asset classes. When that happens, there’s no going backwards.” Yesterday, BlackRock filed to launch two more tokenized money market funds. One is a newly created fund built specifically as a stablecoin reserve vehicle. As more stablecoins come to market, issuers are seeking reserve funds that are both Genius-compliant and tokenized to allow for 24/7 trading and near-instant settlement. The other is more interesting. And it's only on Ethereum. Unlike BUIDL, which was its own standalone fund, BlackRock added a tokenized share class to BlackRock Select Treasury Based Liquidity Fund (a $6.1B fund inside their institutional money market complex, BlackRock Liquidity Funds). The complex holds hundreds of billions across funds like FedFund, MuniCash, and T-Fund. The infrastructure is now built inside the complex. Extending it to FedFund or MuniCash next is a much smaller lift than what BlackRock just did. Chalom's step function isn't here yet, but the rails are - on Ethereum. Source: CoinDesk (Feb 2026)

SharpLink CEO and former BlackRock Exec Joseph Chalom on what the inflection point in tokenization will look like “We went through a period in tokenization where you had individual projects tokenized and everyone got excited. Franklin Templeton tokenized a money market fund called BENJI, then BlackRock did BUIDL, then our friends at Apollo did ACRED. So you’re going organically one fund or project at a time.” “What I’m looking for is some asset manager to wake up one day and not tokenize a fund but tokenize a fund complex measured in the hundreds of billions… When you see [massive one-time step functions], you know you’re at the right point of tokenization and it’s irreversible. So not individual projects, but entire complexes and asset classes. When that happens, there’s no going backwards.” Yesterday, BlackRock filed to launch two more tokenized money market funds. One is a newly created fund built specifically as a stablecoin reserve vehicle. As more stablecoins come to market, issuers are seeking reserve funds that are both Genius-compliant and tokenized to allow for 24/7 trading and near-instant settlement. The other is more interesting. And it's only on Ethereum. Unlike BUIDL, which was its own standalone fund, BlackRock added a tokenized share class to BlackRock Select Treasury Based Liquidity Fund (a $6.1B fund inside their institutional money market complex, BlackRock Liquidity Funds). The complex holds hundreds of billions across funds like FedFund, MuniCash, and T-Fund. The infrastructure is now built inside the complex. Extending it to FedFund or MuniCash next is a much smaller lift than what BlackRock just did. Chalom's step function isn't here yet, but the rails are - on Ethereum. Source: CoinDesk (Feb 2026)

Etherealize

18,395 views • 3 months ago

Right now we have two battles on our hands: the operation in Iran and the rising threat here at home. The problem: Democrats are refusing to fund the very department that protects our homeland. This is absolute madness. We must fund Homeland Security now.

Right now we have two battles on our hands: the operation in Iran and the rising threat here at home. The problem: Democrats are refusing to fund the very department that protects our homeland. This is absolute madness. We must fund Homeland Security now.

Senator Dave McCormick

12,862 views • 4 months ago

Reporter: The price tag for this doj fund, $1.8 billion, you have people that can't afford groceries. Gas is high. People are making sacrifices in their personal lives to accommodate for this rise in prices. People are telling us that they feel financially worse off. They're very concerned about the uncertainty. How can you justify that amount of taxpayer money for that fund when people are struggling? What do you say to Americans who wonder why this fund is getting all this money and I can't afford basic life amenities? Vance: Thanks to Donald Trump's leadership and the working families tax cut, we put $40 billion into a rural health care fund

Reporter: The price tag for this doj fund, $1.8 billion, you have people that can't afford groceries. Gas is high. People are making sacrifices in their personal lives to accommodate for this rise in prices. People are telling us that they feel financially worse off. They're very concerned about the uncertainty. How can you justify that amount of taxpayer money for that fund when people are struggling? What do you say to Americans who wonder why this fund is getting all this money and I can't afford basic life amenities? Vance: Thanks to Donald Trump's leadership and the working families tax cut, we put $40 billion into a rural health care fund

Acyn

114,405 views • 2 months ago

Episode #93: Michael Kim @ Cendana Michael Kim is the Founder of Cendana Capital, making anchor investments in very early stage VC funds. We talk 204x DPI funds, characteristics of the top performing venture investors, how Cendana does diligence on fund managers, portfolio construction best practices + Michael’s 60x rule, and why a high ownership to fund size ratio drives outlier returns. We also get into how VCs are using AI, the competition between Seed and multi-stage investors, why US endowments are under siege, and how secondaries are driving most early stage venture returns today. Michael also opens up about the early days of starting Cendana, the 18 month grind raising Cendana Fund 1, the day he almost died, and ranking in the top 2% globally in Call of Duty. Shoutout to Roger Ehrenberg, Kevin Hartz, Semil, Jeff Clavier, Beezer Clarkson, Jack Altman, Jeff Morris Jr., Sheel Mohnot, Nichole Wischoff, Ted Alling, and Rick Zullo for their help putting this together. Thanks bolt.new for supporting this episode (check out their Hackathon with $1m in prizes!) Full episode here on X, or grab a link in the replies. Timestamps: 4:24 The day Michael almost died 5:10 Call of Duty & video games 9:34 Hiring @ Cendana 10:31 How Cendana uses structured and unstructured data 16:51 How VCs are using AI 19:55 Why secondaries are driving most early stage venture returns 22:01 Deciding when to sell secondaries 24:28 Best performing venture funds ever 27:26 The best VCs have amazing access to the best founders 33:42 Why Cendana backs Solo GPs 35:57 How to invest over time and hype cycles 41:35 Why multi-stage firms are investing earlier 44:45 Cendana’s current thesis: High ownership % to fund size 45:51 Why Cendana started backing non-lead VCs 48:41 How Cendana does diligence on fund managers 52:22 VC NPS Scores and Ron Conway’s Silver Bullet 53:49 Good vs bad new VC firm strategies 56:36 Determining defensibility of a strategy 57:57 “Messy middle” software buyout fund 1:03:25 Portfolio construction best practice 1:08:11 Michael’s 60x Rule 1:14:28 How Seed funds compete with multi-stage funds 1:20:05 Should you collect logos writing small checks? 1:21:07 Becoming an LP for the city of SF 1:24:42 Taking 18+ months to raise Cendana Fund 1 in the GFC 1:26:48 Warehousing the first Cendana Fund 1 investments 1:29:56 How to do a first close 1:34:29 Why it’s hard to kill a VC firm 1:37:00 What happens to ZIRP tourist fund managers 1:40:22 How to raise a Fund 2 or 3 today 1:42:07 “US endowments are under siege” 1:44:55 What the best GP LP relationships look like 1:46:41 What Fund of Funds get wrong 1:50:43 The three most interesting trends in venture today

Episode #93: Michael Kim @ Cendana Michael Kim is the Founder of Cendana Capital, making anchor investments in very early stage VC funds. We talk 204x DPI funds, characteristics of the top performing venture investors, how Cendana does diligence on fund managers, portfolio construction best practices + Michael’s 60x rule, and why a high ownership to fund size ratio drives outlier returns. We also get into how VCs are using AI, the competition between Seed and multi-stage investors, why US endowments are under siege, and how secondaries are driving most early stage venture returns today. Michael also opens up about the early days of starting Cendana, the 18 month grind raising Cendana Fund 1, the day he almost died, and ranking in the top 2% globally in Call of Duty. Shoutout to Roger Ehrenberg, Kevin Hartz, Semil, Jeff Clavier, Beezer Clarkson, Jack Altman, Jeff Morris Jr., Sheel Mohnot, Nichole Wischoff, Ted Alling, and Rick Zullo for their help putting this together. Thanks bolt.new for supporting this episode (check out their Hackathon with $1m in prizes!) Full episode here on X, or grab a link in the replies. Timestamps: 4:24 The day Michael almost died 5:10 Call of Duty & video games 9:34 Hiring @ Cendana 10:31 How Cendana uses structured and unstructured data 16:51 How VCs are using AI 19:55 Why secondaries are driving most early stage venture returns 22:01 Deciding when to sell secondaries 24:28 Best performing venture funds ever 27:26 The best VCs have amazing access to the best founders 33:42 Why Cendana backs Solo GPs 35:57 How to invest over time and hype cycles 41:35 Why multi-stage firms are investing earlier 44:45 Cendana’s current thesis: High ownership % to fund size 45:51 Why Cendana started backing non-lead VCs 48:41 How Cendana does diligence on fund managers 52:22 VC NPS Scores and Ron Conway’s Silver Bullet 53:49 Good vs bad new VC firm strategies 56:36 Determining defensibility of a strategy 57:57 “Messy middle” software buyout fund 1:03:25 Portfolio construction best practice 1:08:11 Michael’s 60x Rule 1:14:28 How Seed funds compete with multi-stage funds 1:20:05 Should you collect logos writing small checks? 1:21:07 Becoming an LP for the city of SF 1:24:42 Taking 18+ months to raise Cendana Fund 1 in the GFC 1:26:48 Warehousing the first Cendana Fund 1 investments 1:29:56 How to do a first close 1:34:29 Why it’s hard to kill a VC firm 1:37:00 What happens to ZIRP tourist fund managers 1:40:22 How to raise a Fund 2 or 3 today 1:42:07 “US endowments are under siege” 1:44:55 What the best GP LP relationships look like 1:46:41 What Fund of Funds get wrong 1:50:43 The three most interesting trends in venture today

The Peel

61,707 views • 1 year ago