Podcasts about venture investment associates

Welcome back to the Alt Goes Mainstream podcast.On today's show, we welcome a veteran of venture, a champion of portfolio concentration, a master of micro VC. Chris Douvos has taken a mosaic of experiences as an allocator at both endowments and funds that worked on behalf of institutional investors to found Ahoy Capital in 2018, an intentionally right-sized firm focused on working with smaller, emerging VC managers. A pioneering investor in the micro VC movement, Chris has been a mainstay in venture capital for decades. At Ahoy, he discovers and partners with smaller VC funds to help drive returns for his LPs, being seen as a “bird dog in the Valley” for many institutional investors who lack the access, network, and knowledge of the early-stage venture landscape to Chris's degree.Chris has been embedded in the venture world for years, dating back to the early 2000s. Prior to Ahoy Capital, Chris spearheaded investment efforts at Venture Investment Associates and The Investment Fund for Foundations. He initially learned the craft of private markets investing at Princeton's University endowment, although he earned his BA and MBA from Yale.Chris and I had such a fun discussion about venture and the emerging VC landscape. We discussed:How the business of venture has changed.Why there's always room for a Bugatti when the market has a lot of Fords and Toyotas.What he learned from Doug Leone at Sequoia in his early days as an allocator at Princeton and how it's informed how he invests today.Why it's tough to be a midsized fund in today's venture market.Why he believes that concentration is key as a LP – and that diversification can lead to “diworseification.”Why he believes smaller fund sizes can lead to outperformance.Thanks Chris for coming on the podcast to share your wisdom and lessons learned from decades in venture.

Chris Douvos, founder of Ahoy Capital, discusses venture capital investing as a limited partner (LP). He explores how venture capital fits in an investor's portfolio, shares his investment philosophy, and reveals how he identifies nonconformist VC investors, especially emerging managers. Chris also reflects on recent VC landscape changes and offers insights to better the industry's future and its potential impact.In this episode, you'll learn:[2:28] Pre-2005 venture capital: An enigma mastered by just a few hundred experts. What's evolved?[9:03] Contrarian view: Concentrated VC portfolios triumph over diversification.[13:15] Ahoy's portfolio: Home to unique ventures.[18:26] Nurturing LP/VC connections.[23:47] Standing out in the world of 'chaos capital' as a VC investorThe non-profit organization that Chris is passionate about: Habitat for HumanityAbout Chris DouvosChris Douvos founded Ahoy Capital in 2018 with a focus on building a boutique firm committed to investment excellence and fostering strong partnerships. With nearly two decades of experience in venture capital, Chris is a pioneering figure in the micro-VC movement. He excels in identifying and nurturing emerging funds, facilitating transparent dialogue between capital providers and consumers, and shares his insights through his blog, SuperLP. His expertise is not limited to capital; he is also sought after for his advisory role on numerous manager's boards. Chris is a frequent speaker at industry conferences and business schools, and he serves as a valuable resource for tech and business media.Before establishing Ahoy Capital, Chris led investment efforts at Venture Investment Associates and The Investment Fund for Foundations. He honed his skills in illiquid investing while working with Princeton University's endowment and started his career as a strategy consultant at Monitor Company.Fun Fact: Chris is known for his exclusive brick oven pizza parties, attended by LPs, GPs, and entrepreneurs in Silicon Valley. About Ahoy CapitalAhoy Capital is a Silicon Valley-based boutique fund manager that scours the innovation ecosystem in search of attractive risk-adjusted returns while maintaining a high level of engagement with its Partners. Focusing on investments in both early-stage venture capital funds and start-up companies, Ahoy Capital seeks outstanding opportunities in the application of emerging disruptive technologies, as well as the development of nascent frontier ideas that will continue to have profound effects on the ways in which people live and work. Subscribe to our podcast and stay tuned for our next episode.

Chris Douvos is Managing Director at Venture Investment Associates, a fund that invests $1B in commitments to venture capital funds. Chris is responsible for the management of relationships with the funds' managers and the identification and development of new manager relationships. He is the author of an entertaining blog about venture capital entitled SuperLP – Adventures in Investing, available at SuperLP.com. Prior to joining VIA, Chris spent seven years co-heading the private equity program at The Investment Fund For Foundations, or TIFF. In this role, he was responsible for another $1 billion in new capital commitments. Before joining TIFF, Chris worked on Princeton University's endowment team. He started his career as a strategy consultant at Monitor Company. He is a graduate of Yale University and the Yale School of Management. Our conversation starts with Chris' path to venture capital, through strategy consulting, investment banking and an endowment investment office. We talk about perception and reality in venture investing, exciting areas of future innovation, and the nuts and bolts of research, portfolio construction and decision making when running a portfolio of venture funds. When Chris pulls off his suit, the red undershirt of the Super LP remains. He's a charismatic guy with great insight into how the venture capital game is played and draws many parallels from venture to investing in general. Learn More  Follow Ted on Twitter at @tseides or LinkedIn  Subscribe to the mailing list  Access Transcript with Premium Membership   

Chris Douvos is Managing Director at Venture Investment Associates, a fund that invests $1B in commitments to venture capital funds. Chris is responsible for the management of relationships with the funds' managers and the identification and development of new manager relationships. He is the author of an entertaining blog about venture capital entitled SuperLP – Adventures in Investing, available at SuperLP.com. Prior to joining VIA, Chris spent seven years co-heading the private equity program at The Investment Fund For Foundations, or TIFF. In this role, he was responsible for another $1 billion in new capital commitments. Before joining TIFF, Chris worked on Princeton University's endowment team. He started his career as a strategy consultant at Monitor Company. He is a graduate of Yale University and the Yale School of Management. Our conversation starts with Chris' path to venture capital, through strategy consulting, investment banking and an endowment investment office. We talk about perception and reality in venture investing, exciting areas of future innovation, and the nuts and bolts of research, portfolio construction and decision making when running a portfolio of venture funds. When Chris pulls off his suit, the red undershirt of the Super LP remains. He's a charismatic guy with great insight into how the venture capital game is played and draws many parallels from venture to investing in general.   Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership

On today’s Tank Talk! We welcome Chris Douvos, founder and managing director of Ahoy Capital to talk about “How to build a lasting startup ecosystem.”Chris’s Background:Chris Douvos founded Ahoy Capital in 2018 to help invest in the micro-VC movement. Prior to Ahoy Capital, Chris spearheaded investment efforts at Venture Investment Associates and The Investment Fund for Foundations. He learned the craft of illiquid investing at Princeton University’s endowment and started his business career as a strategy consultant at Monitor Company.Chris authors the blog SuperLP in which he chronicles his adventures investing in venture capital and private equity, and his legendary brick oven pizza parties—small gatherings of LPs, GPs, and entrepreneurs. He is sought after not only for investment capital, but also for his advice, and serves on numerous managers' advisory boards. Welcome Chris!In this episode we discuss:02:01 What is a Startup ecosystem and how do they get started09:54 Why some ecosystems thrive and other can’t get started17:47 The impact of COVID on accelerating ecosystems outside of Silicon Valley20:21 Will hubs still be hubs or will dispersion continue22:50 The role incubators and accelerators play in growing ecosystems24:55 Did Y combinator help create the San Francisco ecosystem?26:17 Why Silicon Valley has a blitzscaling advantage28:13 The rise of virtual companies30:34 Successful companies build their own momentum and can hinder ecosystem growth35:18 How remote work will put pressures on geographies to compete for talent39:30 How do regions think about the future of work40:58 The role of government in building ecosystemsBook Chris recommends:Shadow War by Jim SciuttoFollow Matt Cohen and Tank Talks here!Podcast production support provided by Agentbee.Agency This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit tanktalks.substack.com

My guest this week is Chris Douvos, a managing partner at Venture Investment Associates, which allocates 1.6B in behalf of investors.  Chris is the first professional allocator I’ve spoken with who focuses specifically on venture capital funds, so I had a ton of questions for him on how to build a portfolio in an asset class known for uncertain, but often enormous, outcomes. We discuss the major recent changes in the asset class and where things might be going. I sought Chris out because while this is an investment style that is full of creativity and hope, I’ve always felt it could use a healthy dose of skepticism and a value investor’s mindset. He delivers in spades as we try to separate the real from the ideal.  We didn’t record it, but Chris’s tour of Palo Alto was one of the most interesting and entertaining hours I’ve spent. He is a student of history and markets, and I look forward to learning more from him in the future.  Please enjoy our conversation   For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Books Referenced Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment   Links Referenced Domino Rally Business Models All About the Benjamins Speak Like the Locals David Salem podcast episode Curveball   Show Notes 2:18 – (First question) – Four factors that Chris thinks are important for future success of venture firms; portfolio concentration; repeatability; being early; size discipline 7:40 – What the venture landscape looks like today from Chris’s viewpoint             8:32 – Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment 14:07 – Is there a glut of startups making it difficult for investors 17:33 – How does Chris think about the investments that are a bit different from what everyone else is investing in in Silicon Valley 19:17 – Why he focuses on college campuses for innovation 20:54 – The role that geography plays in venture 25:06 – The Four M’s; money, momentum, mentorship, entrepreneurial management 27:13 – Chris’s perspective on crypto currency as a threat to venture capital 31:44 – The idea of venture capitalists as service providers to the companies they are investing in 35:15 -  Views on investing in hyper focused VC’s vs those that are generalists and just go after the best opportunities in any sector 39:00 – What hot button areas are of most interest to Chris and why, from an investment standpoint             39:38 – Domino Rally Business Models 42:22 -  What can a public market investor learn from a value venture investor who mostly has to rely on qualitative metrics             43:08 – All About the Benjamins 44:38 – Portfolio construction in the world of venture             46:40 – Speak Like the Locals 48:00 -  What are the characteristics that Chris looks for in managers, as an allocator 53:52 – What type of investors should and should not be in venture 59:15 – What type of allocator would Chris give all of his money to             59:47 – David Salem podcast episode             1:01:06 – Curveball 1:01:40 – Kindest thing anyone has done for Chris   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag

Chris Douvos is Managing Director at Venture Investment Associates, a fund that invests $1B in commitments to venture capital funds. Chris is responsible for the management of relationships with the funds’ managers and the identification and development of new manager relationships. He is the author of an entertaining blog about venture capital entitled SuperLP – Adventures in Investing, available at SuperLP.com. Prior to joining VIA, Chris spent seven years co-heading the private equity program at The Investment Fund For Foundations, or TIFF. In this role, he was responsible for another $1 billion in new capital commitments. Before joining TIFF, Chris worked on Princeton University’s endowment team. He started his career as a strategy consultant at Monitor Company. He is a graduate of Yale University and the Yale School of Management. Our conversation starts with Chris’ path to venture capital, through strategy consulting, investment banking and an endowment investment office. We talk about perception and reality in venture investing, exciting areas of future innovation, and the nuts and bolts of research, portfolio construction and decision making when running a portfolio of venture funds. When Chris pulls off his suit, the red undershirt of the Super LP remains. He’s a charismatic guy with great insight into how the venture capital game is played and draws many parallels from venture to investing in general. For more episodes, go to capitalallocatorspodcast.com/podcast Follow Ted on twitter at @tseides

I had the opportunity to talk with Chris Douvos, Managing Director of Venture Investment Associates.

In episode #166, Chris Douvos of Venture Investment Associates speaks about the evolution of the venture capital industry.