Thesis & Presentation

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Can we switch the thesis on a fund mid-stream?

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May 03, 2023

Can we switch the thesis on a fund mid-stream?

Top answer:

You can’t really switch the thesis on a fund mid-stream. You could launch a fund 2 with a different thesis but not in the same fund.

 -  Mike Suprovici
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Is Raising a €10MM Cayman FTF with Swiss GPs for African Investments Realistic?

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May 03, 2023

Is it realistic to raise a €10MM FTF incorporated in Cayman Islands, with GPs based in Switzerland and invest in portfolio companies based in an African country?

Top answer:

With respect to your thesis, you could say that you are in Switzerland and investing exclusively in Africa. The cross boarder deal structure refers to folks who say that they are investing in multiple regions.

 -  Mike Suprovici
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Q: What's the Ideal Format to Showcase Multiple Companies in an Investment Deck?

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May 03, 2023

Q: How should the investment deck best showcase our deal warehouse? I have three companies I would like to include but am unsure if each company should have its own slide or can they just be placed on a single page. Moreover what sort of informati...

Top answer:

A common approach is to to show a summary of the deals on one slide and then put summary in the appendix. Put traction and funding stats.

 -  Mike Suprovici
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Has Anyone Built a Non-Traditional Fund Focused on Dividends and Liquidation Events Instead of Unicorn Startups?

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May 03, 2023

Hi everyone did anyone here built a fund that’s *not focused* on the traditional “venture-type returns” startups (100 - 10000x unicorn potential all from a sale / acquisition)? Based on our thesis we project we can achieve “venture returns” but fr...

Top answer:

Venture Funds invest in speculative private company equity for returns from an exit. This is a proven model globally. Factoring, investing in profits or buying tokens is not venture capital. Trying to buy profits is not a proven model, ...

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What is the Optimal Way to Display a Single Management Fee Rate on Slides for a 10-Year Fund?

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May 03, 2023

What is the best way to present management fees as a single number on slides? For example we want to front-load the fees for our 10Y fund at 3.5% for the active investment period (3 years) and then drop them to 1%. Average over 10years comes to 1....

Top answer:

Put 2% average on your terms page. In parentheses next to it you can briefly describe the front loading.

 -  Mike Suprovici
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