Podcast Notes & Highlights: Raja Doddala, Churchill Asset Management, on 'The Neon Show' w Siddhartha Ahluwalia
venturelore.substack.com
8 July 2024. Link to podcast page (with transcript). Below are my thoughts on the podcast and snippets of what I found interesting from it . Sajith Pai’s Notes Good podcast to listen to for understanding how an elite LP or Limited Partner (who provides money for VC fund managers or General Partners, known as GPs to invest) thinks abt the venture asset class. Typically in such podcasts where VCs interview LPs (it is an interesting GTM hack for fundraising) the usual question is to ask what LPs look for in GPs. Here Siddhartha cleverly inverts the question and asks what VCs should look for in LPs and evaluate them by, as well as what those who provide money to Fund of Funds LPs should evaluate these LPs by. I thought these were great questions and you got a sense of what differentiates a great LP from an also ran. Essentially it is the ability to get access to a top decile or top quartile manager, and get meaningful allocation in them, as well as the ability to coinvest. There is, Doddala says, “a lot of dispersion between the performance of top quartile and bottom quartile. Not so much dispersion in private equity, but in venture.” and hence, only an LP who can get access to the top quartile venture funds will make meaningful returns.
Podcast Notes & Highlights: Raja Doddala, Churchill Asset Management, on 'The Neon Show' w Siddhartha Ahluwalia
Podcast Notes & Highlights: Raja Doddala…
Podcast Notes & Highlights: Raja Doddala, Churchill Asset Management, on 'The Neon Show' w Siddhartha Ahluwalia
8 July 2024. Link to podcast page (with transcript). Below are my thoughts on the podcast and snippets of what I found interesting from it . Sajith Pai’s Notes Good podcast to listen to for understanding how an elite LP or Limited Partner (who provides money for VC fund managers or General Partners, known as GPs to invest) thinks abt the venture asset class. Typically in such podcasts where VCs interview LPs (it is an interesting GTM hack for fundraising) the usual question is to ask what LPs look for in GPs. Here Siddhartha cleverly inverts the question and asks what VCs should look for in LPs and evaluate them by, as well as what those who provide money to Fund of Funds LPs should evaluate these LPs by. I thought these were great questions and you got a sense of what differentiates a great LP from an also ran. Essentially it is the ability to get access to a top decile or top quartile manager, and get meaningful allocation in them, as well as the ability to coinvest. There is, Doddala says, “a lot of dispersion between the performance of top quartile and bottom quartile. Not so much dispersion in private equity, but in venture.” and hence, only an LP who can get access to the top quartile venture funds will make meaningful returns.