Venture Passport
The show is co-hosted by two VCs, Jack Richardson, and Richard Armstrong, exploring the inner workings behind the creation of thriving tech unicorns, showcasing conversations with leading pioneers and visionaries in the global startup arena.
S2E6: Ertan Can, Founder @ Multiple Capital
In this episode, Jack Richardson and Ertan Can delve into the world of Fund of Funds and Micro VCs in Europe. They discuss the benefits, qualities of investable managers, and structuring pre-seed funds. The conversation covers follow-on strategies, re-upping criteria, and compares emerging and established GPs and LPs. They explore the future of micro funds, regulatory impacts, and LP asset class diversification. The role of late-stage funds in early-stage investment and larger funds as LPs in seed funds are also examined. Ertan shares advice for first-time managers and his vision for the venture capital industry's future.
Key Points
- Investing in micro VCs can lead to higher potential returns due to their focus on early-stage companies, which often yield higher multiples.
- The landscape for fund of funds has significantly evolved, with a marked increase in hybrid models that invest both in funds and directly in startups.
- Setting up and managing a venture fund in Europe is highly complex and costly due to stringent regulatory requirements, which could be simplified to foster innovation and democratize access to capital.
Chapters
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| 38:44 |
Transcript
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