Michael Gilroy
speaker
885 appearances
1 recordings
1 series
first heard Jul 2026
last heard 20 Jul
Michael Gilroy’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
And I know you know the name well because you cover the sector or you're an angel investor or you used to be on the board of it or it's the competitor of a company you used to be on the board of.
We love doing those things, right?
I think these relationships are compounding over time.
And I know that for
Many of them, hopefully all of them, were just getting started.
Leaving my old firm, what I knew I needed to be able to quote-unquote sell to founders or provide to founders is we have the ability to support you from seed to public.
You talk about competing with the platforms.
That's a big one, right?
Founders want that access to capital and they don't want to spend time fundraising.
And so we said, hey, how can we make it so that our fund size isn't so big that it's going to hurt returns?
We want to make sure that we can provide investors great returns on the core fund while still giving them exposure to our best names at the growth stage where the return profile may be a little bit different.
We can be looking at a pre-IPO round that's close to IPO that's
1.3X and a low 20s, high teens IRR, there's pockets of money that that's a great investment for.
That is not a great investment for our core fund.
And so we lean on co-invest.
And we saw a lot of co-invest across firms throughout Zerp.
And in many cases, it worked out.
But I think in a vast majority, it did not.
And so let's go into a co-invest process and what's breaking.
So I come in, I say, hey, I'm going to co-invest $200 million into XYZ name.
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