Bill Maris

speaker
608 appearances 2 recordings 2 series first heard Jun 2026 last heard 9 Jun

Bill Maris’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
2 · Jun OctJan 26AprJulnow

Recordings per month over the last 12 months — 2 in all, peaking in Jun 2026 with 2.

Appearances

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It's distracting.
You cannot give the attention to founders that I would like to give.
There are many reasons for this.
And if we look at...
top decile performance of DPI, funds smaller than 750 million average return of 4.76x and funds larger than a billion 2.42x.
Funds below 750 million across that time period represented 95% of top decile performers with discontinuous return compression above 750 million.
Why is this?
There's a lot of reasons for this.
You can use your own numbers, but I'll just do a little thought experiment.
If you have a $500 million fund,
And let's say on average these days you can own 10% of a company.
You need $5 billion of exits to get your money back.
Let's just remind ourselves that the 75th percentile of venture loses money, and there is persistence of performance of the top quartile.
So if you need $5 billion to get your money back, and if you want to be in this business for the long term, let's say you set your...
your goal at 3x, you need to return $15 billion of exit value in your companies.
Now, if you have a $7 billion fund, and we do the same math through, you know, you've got to return 210 billion, 7 billion to 70 times 3x is 210 billion, which...
exceeds the total venture-backed M&A and IPO exit value in most years.
This year may be an exception, but that is something I'm looking forward to talking about when we sit down.
For those of you, we've crunched the numbers.
We've done all the math.
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