Jeff Horing

For 20 years, we've all built track records.

We've all been through multiple cycles.

We have enough time in the day to meet every company that a team of people that would work with us, including young partners, sources.

We don't do that many deals a year except for 2021, but it wasn't an insurmountable number.

It wasn't like I needed to spend 20 hours on another partner's deal, but three hours, I can get a lot of instincts.

My instincts may be more on, I'll call it the intangible excitement around the deal.

Other partners are really good at the financial side.

We keep tweaking that a little bit, but that was fundamentally a breakthrough in how we can try and scale judgment without breaking the model and saying, let's just have pods of very experienced partners managing and working with other partners, both operating partners and young, hungry deal partners, and combine that DNA into a more cohesive team approach and then make sure that

An investment committee member owns every single deal.

And if somebody leaves, it's on me.

If somebody screws up, it's on me.

And there's no hiding it.

We can mobilize 15 people from my McKinsey brains to my sales ops team or marketing ops team to dive in and really try and uncover as much as we can in that very short time window that we have.

Once in a while, I probably am the only one who does what I call concept deals at a big price.

Even I'm not doing that right now.

I'll do a little bit of those on the smaller side where I feel like a unique team with unique technology and there's not a lot of numbers to support it, but that's going to be a

allocated part of the portfolio that's going to be very small.

That's more risk managed, again, by check size.

And we have that benefit.

So when we start seeing something that maybe our spidey senses are tingling and we're like, this could be something special, maybe we could use check size to manage it more intelligently.