OpenLP

Some firms earn a reputation as “franchise funds”—but does that label actually signal future success? ?? ???? In the newest episode of Origins, Thomas Kristensen, Partner at LGT Capital Partners, joins Elizabeth "Beezer" Clarkson to challenge conventional wisdom on what it really means to be a top-tier VC firm. ?? Why being a franchise fund shouldn’t be every GP’s ultimate goal ?? The risks of relying on past success instead of building for the future ?? How LPs can distinguish enduring firms from those that have already peaked ?? 2025 market predictions: Will IPOs still be the gold standard for founders? Thomas also explains why LPs must scrutinize firms expanding into new strategies and how succession planning—when mishandled—can quietly erode a firm’s longevity and trust with investors. This episode goes beyond the surface to unpack what really defines lasting success in venture capital. ?? Don’t miss it—links in comments! ?? #VentureCapital #LPInsights #Fundraising #EmergingManagers #OpenLP

Great follow-up from Hunter Walk on how an LPAC can be a real strategic asset for emerging managers—not just a governance requirement. Homebrew has leaned on its LPAC for key decisions like: ? Fund extensions & portfolio recycling ? Taking secondary liquidity without LP pressure ? Handling tough ethical calls with LP buy-in If you're building a fund, this is a must-read on how to make your LPAC work for you: https://lnkd.in/gtdWKmbk #OpenLP #VentureCapital #FundManagement #EmergingManagers

After 20 years and 10,000+ GP meetings, Thomas Kristensen has learned one thing—there’s no secret formula to identifying winners, but experience pays in spades. LPs are all assessing for the same things—so what separates the great pickers from the rest? Thomas Kristensen says it’s pattern recognition, honed over years of conversations, and a strong BS detector. In this Origins episode, Thomas and Elizabeth "Beezer" Clarkson break down: ?? How LPs filter signal from noise in a crowded market ?? Why trust and familiarity play a crucial role in LP-GP relationships ?? Why trial periods matter when bringing new investors into a firm For emerging and established managers, understanding how LPs think is key. Catch the full episode linked below. ?? #OpenLP #VentureCapital #LPInsights #Fundraising #EmergingManagers

Congrats to Jack Altman on the launch of his new podcast, Uncapped! ?? ?If you’ve ever heard Jack break down startup lessons, scaling, and investing, you know this one is going to be a must-listen. Jack was an awesome guest on Origins, where he shared his journey From VC-Backed Founder to Angel to Institutional Investor. Now, he’s on the other side of the mic—tune in to Uncapped, and if you missed his Origins episode, find it here: https://lnkd.in/gSrtRtUi Listen to Uncapped now: https://t.co/3ClYooXAR9 #OpenLP #VC #Angelinvesting

Project Europe is making a bold bet: The next tech titan will be built by founders 25 or younger—and they’re putting €10M behind it. Congrats to our friends at 20VC, Point Nine and Adjacent for launching this initiative to support the next generation of European entrepreneurs! ?? ?? €200K investment for early-stage founders ?? Backing from 140+ top tech leaders ?? Start in Europe—scale anywhere Read more in TechCrunch ???: https://lnkd.in/giNBqxge Apply today! ??: https://lnkd.in/gxdk6bBr #VentureCapital #Startups #EUtech #GenZFounders

Work with your LPAC, not for your LPAC. From our friends at Screendoor: Your Limited Partner Advisory Committee (LPAC) shouldn’t just be a governance requirement—it should be a strategic asset. The right LPAC can help GPs build stronger investor relationships, anticipate challenges, + make better long-term decisions. How to get the most out of your LPAC: ?? Go beyond check size - Different LPs bring different perspectives based on experience, incentives, and portfolio strategy. ?? Use them strategically - LPACs should provide input on key fund decisions, not just approve motions. ?? Pick the right mix - Diverse viewpoints, strong networks, and aligned incentives make for a more effective LPAC. ?? Prioritize responsiveness - You need LPs who engage when it matters, not just when required. LPACs, when used wisely, can be a powerful tool for fund managers - not just a formality. More insights from Screendoor: https://lnkd.in/gHyJ4_vw #OpenLP #VentureCapital #Fundraising

ICYMI! The latest OpenLP newsletter is here, bringing you key venture capital insights including: ?? Evaluating GPs with the 4 P’s – Charlotte Zhang (Inatai Foundation) ? Fund size impacts on strategy? – Samir Kaji (Allocate) ? Why 2025 Is the Year to Invest Decisively in Seed VC – Adam Marchick (Akkadian Ventures) ? Is the IPO Drought the New Normal? – Charles Hudson (Precursor Ventures) ? Origins Podcast: Revisiting Power Law VC Performance – Elizabeth "Beezer" Clarkson & Nicholas Chirls with David Clark (VenCap International plc) ? Bridging Perspectives: Investment Process Lessons for Managers & LPs – Daniel Clayton (Sapphire Partners) ?? All this and much more in the newsletter: https://lnkd.in/gxbciYc5 ?? Subscribe for monthly insights: subscribe.OpenLP.vc As always, thank you to this month’s contributors! Cc: Kyle Harrison Adam Metz Sarah Guo Elad Gil Derek Hernandez Nick Zambrano #VentureCapital #LPInsights #Fundraising #EmergingManagers #OpenLP

What are LPs prioritizing in 2025? The latest cover story from Venture Capital Journal digs in… Despite a challenging exit environment, LPs remain committed to venture—but they’re being more selective about where they allocate capital: ?? DPI & liquidity matter more than ever—LPs want to see real distributions before committing further capital. ?? Emerging managers are still getting backed, but LPs are prioritizing those with clear fund math, strong strategies, and sector expertise. ?? LPs are keeping a close eye on AI & software for industrialization—two areas where long-term potential remains strong. At the same time, LPs are looking beyond just returns. Portfolio construction, succession planning, and strategic fund management are becoming bigger factors in decision-making. VCJ spoke to Elizabeth "Beezer" Clarkson for insights and highlighted Sapphire Partners’ consistent allocation to emerging managers (regardless of market cycles) through a key partnership with CalSTRS. Catch the cover story here: https://lnkd.in/gd6wkGJA #OpenLP #VentureCapital #LPInsights #Fundraising #EmergingManagers

?? What if the current IPO tech drought isn't the new normal for venture? https://shorturl.at/n0mjV Can LPs handle it? This post by Charles Hudson has been living in my head rent free for a few days now https://shorturl.at/n0mjV Driving this? ?? New IPO-readiness bar: $250-500M+ ARR, often a decade-long journey Private markets offer ample late-stage capital, reducing IPO urgency ?? Big VC funds dominate, underwriting mega-rounds for later-stage startups ?? Companies at IPO scale can keep raising privately ?? Emergence of secondaries offering alternative liquidity solutions But for LPs feeling the crunch, will secondaries provide the meaningful returns they need? We're seeing it for some of the "smaller funds" but for the larger ones? Tougher. Without IPOs and lower distributions, LPs could be forced to rethink allocation to venture, which could cause an industry-wide ripple effect. According to Jan PitchBook data, 1,300+ VC-backed U.S. companies were last valued at $500M+. Only 40 exited last year. At this rate, it would take 30 years to clear portfolios. Will be an interesting ride this year seeing how things play out. ?? #VentureCapital #IPO #PrivateMarkets #LPperspective #OpenLP

How can LPs separate good GPs from the truly exceptional? Charlotte Zhang, Director of Investments at Inatai Foundation, shares a structured approach on Superclusters. Her 4 P’s framework helps LPs assess whether a GP has a durable edge: ?? People – Are they uniquely positioned to source, win, and build category-defining companies? ?? Process – Is their investment approach repeatable and disciplined, or reliant on luck? ?? Portfolio – Does their fund construction maximize the likelihood of outsized returns? ?? Performance – Have they demonstrated the ability to generate alpha across cycles? ?? An essential listen for any LP refining their manager selection strategy, tune in here: https://lnkd.in/d2cmtn59 cc David Zhou #OpenLP #GP #LP #VenturePodcast