In this episode of Robinson Ventures Radio, Cain Robinson interviews Jenny Kuan, Ph.D. and Hillary Talbot about their unconventional launch of être Venture Capital and what year one was like. être is a women-led firm that supports great ideas and exceptional entrepreneurs who are being overlooked by traditional VC, whether because of location, gender, or race.
Curious about how to launch a venture capital fund?
Launching and operating a venture capital fund is not rocket science. First, you develop your investment thesis — who and what you’re going to invest in and why. Then you pitch to limited partners who you think are a good match to invest in your fund. Once you’ve raised your fund, you invest in startups that fit your thesis. Periodically, you update your limited partners on your portfolio’s progress. If you are the lead investor in a startup, your job is to help it succeed through advising, problem solving, and any business management needed.
A standard fund is a "2 and 20 fund" which means fund managers receive a 2% management fee and 20% carried interest. It “sunsets,” or closes, after ten years.
As you will hear in the podcast, être’s launch was unconventional. We launched the firm in order to lead Obatala Sciences' Series A funding. Year one was a bit crazy, as we spent it building our airplane and flying it simultaneously. We had the time of our lives and with that experience and more, we would love to advise you on how to launch a fund.