For this podcast, I’ve interviewed lots of Venture Capitalists, who talk about their portfolio of investments in companies, but where does this capital come from? When a VC firm announces it’s latest fund of $100M or $1B, who is providing this capital?
Well, It’s typically pension funds, university endowment funds, family offices, or high net worth individuals. The investors in these funds are called Limited Partners or LP’s for short and they are the end client for a VC that is ultimately expecting a return on the capital that has been allocated to a fund.
Thus, I was excited to speak with Sara, who has a lot of experience in the venture industry as an LP and her current firm Recast Capital is a fund of funds, meaning she has raised her own fund that in return provides capital to VC firms. The firm’s strategy is to invest in and empower emerging managers in venture with a focus on diverse partnerships. The goal of the firm is to provide exceptional returns by investing in diverse emerging venture managers.
In this episode of our podcast, we cover:
- Is the VC industry making progress in terms of having more diversity?
- Sara’s educational background and her experience joining an early stage startup and how her career progressed over this period of time.
- How Sara transitioned into the investment side of the equation and her experience at CNF Investments & Greenspring Associates.
- What led Sara and her Co-Founder & Managing Partner, Courtney McCrea, down the path of starting Recast Capital and how they go about making investments into VC funds.
- Details on how the VC industry works and how to get a venture capital fund started.
- And so much more.