Ankur Nagpal is the GP of USVC, a publicly accessible venture capital fund. In this conversation, we break down how retail investors can now access private markets like OpenAI, Anthropic, and SpaceX for as little as $500, and the controversy around USVC's Anduril investment, portfolio strategy, QSBS, tax alpha, and what it means to build wealth in America.

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0:00 - Intro
1:07 - The case for & against private market investing
9:27 - Inside USVC's fund structure (open to anyone with $500)
12:59 - What's in the USVC portfolio right now
14:44 - The Anduril SPV controversy explained
19:38 - Buying out LP stakes in venture funds
23:42 - Private markets vs S&P
25:34 - Lessons from AngelList's data on portfolio construction
30:44 - Why AI is no longer just a category & due diligence
34:16 - Biggest risks & tax alpha with USVC
39:22 - Sticking to the plan amid market change
40:43 - Working with Naval and what America means to Ankur

How To Invest In OpenAI and Anthropic Before They Go Public | Ankur Nagpal

The Pomp Podcast

How To Invest In OpenAI and Anthropic Before They Go Public | Ankur Nagpal