Venture capital fund selection and family office governance require a rigorous focus on alignment, discipline, and long-term strategy. Jorge (Speaker 1), CEO and CIO of Almola, a single family office, prioritizes a minimum 2% GP commitment and widely distributed carry to ensure managers are motivated by performance rather than management fees. While many LPs avoid emerging managers, first-time funds often generate superior alpha because managers leverage high-conviction networks and face "make-or-break" reputational stakes. Transitioning a family office from real estate into private markets involves shifting to final-close investing to reduce cash drag and utilizing evergreen structures for better capital velocity. Effective family office management hinges on establishing a clear mission and a formal governance framework—including foundations and family councils—to navigate multi-generational succession and build consensus. Ultimately, success in private equity and venture investing relies on maintaining strategy consistency and performing deep reference checks with portfolio CEOs to verify attribution.
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