Crossing the chasm: The difficult journey from Fund I to II
Just how tough is it to raise a sophomore fund? OpenLP boldly predicts 'we could see up to 347 first-time managers exit the market' if success rates drop 5-15% from historical averages.
Expert analysis by Ryan Hibbison
We have recently reported on a couple of emerging managers falling short of their targets. Late last month, Super, a San Francisco incubator/accelerator,?said?it closed on $90 million for its Fund II, about $10 million less than it was seeking. This week, Floating Point, a deep tech investor based in Boston and New York,?announced?it closed its second fund at $70 million after targeting $100 million target...