Alex Edelson’s Slipstream is a fund of funds that focuses on firms that are “difficult to find, evaluate and access.” Together with Beezer Clarkson, Partner at Sapphire Partners, and Nick Chirls, Partner at Asylum Ventures, Alex unpacks his strategy of investing in funds he believes can outperform, how to raise capital as an LP, and how to remain competitive against LPs investing in more established firms. The three of them also dig into a recent blog post by Beezer titled “Is Venture Broken?” - which explores the role of mega-funds in the early-stage market. You can read that here.

This episode of Origins is supported by Sydecar. Visit sydecar.io/origins-podcast to learn more.

Learn more about Sapphire Partners: sapphireventures.com/sapphire-partners

Learn more about OpenLP: openlp.vc

Learn more about Asylum Ventures: asylum.vc

Learn more about Slipstream: slipstreaminvestors.com

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Sydecar, Inc. (“Sydecar”) has acted as a financial sponsor within this Origins podcast. Sapphire Ventures, LLC (“Sapphire”) is not affiliated with or invested in Sydecar.

CHAPTERS:

0:00-Welcome to Origins

2:59-Why Start a Fund of Funds?

7:39-How Do LPs Raise Capital?

16:56-I’m the LP I Wanted to Work With As a GP

21:17-What Is Similar & Different Between Now and 2021?

30:41-What Is an Advantage One Day Is Table Stakes the Next

34:18-You Don’t Need a Big Winner to Have An Amazing Small Fund

39:08-Is Venture Broken?

Fundraising as a Fund of Funds with Alex Edelson

Origins: Inside Venture Capital