Aram Verdian
speaker
731 appearances
1 recordings
1 series
first heard Jul 2026
last heard 24 Jul
Aram Verdian’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
By fund three, four, when it's obvious, like it's harder to be 30 to 50% of the fund.
But if we could, that's the way we'll scale our fund.
We typically invest in no more than 18 to 20 managers in every one of our fund of funds.
So if you said every manager is 30 million, bottoms up, that's the fund size.
If we can get 50 million, then we can raise a billion dollars.
But getting 50 million in a $75 million fund, really hard to do.
I totally agree.
We talk about the limited number of funds to invest in, and to your point, the limited number of companies to invest in as well.
There are more points today in a company's life cycle to put money to work than there was maybe 10, 15 years ago.
Late stage is a new asset class altogether in terms of you can actually generate venture-like returns at the mid-stage, potentially even late stage, depending on the company.
That really wasn't the case 10, 15 years ago because structurally,
a lot of depreciation would happen in either public markets.
Today, it's happening in the private markets.
As I said, the average unicorn is private for 12 plus years.
So if you are targeting a select few companies, you can invest across multiple cycles.
Much harder with funds.
It's usually one and done close over two months, and that's it.
So it's much harder for you to scale your check in a way you could in a company over multiple rounds.
By the way, the other thing I'll say is,
If you are able to scale your check to 50 to 100 million in a small fund, it's usually not small anymore.
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