It wasn't that long ago that I was in these seats drawing up our plan to someday start Collide Capital! Just a few years later I got the chance to go back to a room full of 100 ambitious MBA candidates to share our journey.
If I could boil it down to 5 key lessons I shared, it's this:
1. Everyone wants a fund until they get one - make sure you understand the job of a GP, not just the job of an investor. They aren't one in the same.
2. You’re not building a fund, you’re building a firm – the goal shouldn't be just to deploy capital; it’s to create a lasting institution. Hiring, branding, portfolio support—it all matters.
3. Your first LPs aren’t just capital, they’re your foundation – the people who back you in Fund I will set the tone for your firm’s culture, strategy, and long-term trajectory. Choose wisely and don't be afraid to say no to bad partners.
4. Capital alone won’t differentiate you – great founders have options. What makes your firm the one they want on their cap table? Your insight, access, and value-add matter more than your check size.
5. Your fund is a startup, act like it - running a fund is as much a startup as any portfolio company you will back. You’re cold-calling LPs like a founder chases customers, managing limited cash flow like a CFO, and building a brand from scratch. It’s hard as hell—but when it clicks, you get to shape markets, back world-changing companies, and prove your vision in real time.
Thank you Harvard Business School for letting me come back to share our story. Aaron Samuels and I will always seek out opportunities to shed light for others so they can move faster and smarter than we did, with the hopes that someday the next cohort will run right past us!
#collideonpurpose
