Kate Simpson

It's crowded.

It's hard to separate the signal from the noise.

As I said, our team alone has reviewed hundreds of venture funds this year alone.

Our framework at GEM is rather simple.

We evaluate a venture investor's ability to source, to pick, and to win.

I think it's much harder in practice to unpack those questions.

Jam is uniquely positioned to execute well and try to answer those questions given a few things.

We've got a lot of good resources.

We're a high-functioning team that includes a dedicated sourcing team.

So today we have a three-person sourcing team, which we think is absolutely differentiated and a competitive advantage.

I've referenced that the market is crowded and it does feel that way.

So good information helps us to cut through the noise quickly.

So the sourcing team,

I mean, their mandate is to know about which funds are raising when, which VC is spinning out or leaving to set up their own firm, which firms other LPs think highly of.

And look, at JAN, we like to back managers early.

That's kind of been part of our DNA and part of our track record across asset classes since the beginning.

We like...

those emerging type of managers because earlier in their life cycle, because they're hungry, they're motivated, they're aligned with LPs, they're managing smaller pools of capital.

We are eager and comfortable discovering those managers before other LPs maybe realize their potential and before it's maybe obvious to the broader market.

But that takes a lot of hunting.