The LP Perspective: Building an institutional LP base

 

Raising a new fund as a GP can be difficult, especially as GPs begin to navigate the challenges of building an institutional capital base. Building a strong, diverse network of institutional limited partners is key. On the other side of the table, institutional LPs face challenges when seeking to allocate capital to emerging VC funds. Institutional LPs consider the most effective way to identify promising new VC fund managers and how to construct a portfolio focused on emerging VC managers. Once commitments have been made, both LPs and GPs must take steps to cultivate mutually beneficial long-term relationships.

Join us for a panel discussion with Greenspring Associates, Illinois State Treasurer, and Barings for perspectives from LPs investing across a range of alternative assets, including venture capital, private equity, growth equity, and real assets. 

We’ll discuss how they source, evaluate, and work with emerging fund managers and how managers can effectively navigate taking on institutional capital. We’ll share game-changing insights around:

  • Sourcing: What are some of the important channels for LPs to discover new fund managers? 
  • Evaluating: How do limited partners establish their investment policies for each asset class? What matters most to LPs in the diligence process when vetting a new manager? How do LPs think about diversity and inclusion for their fund managers and their portfolio companies?
  • Management: What defines success for LP-GP relationships after the fund is closed? What liquidity management strategies do LPs expect from emerging fund managers?

Date

Apr 15 2021

Time

Pacific Time
10:00 am - 11:00 am

Speakers

  • Ashley Chang
    Ashley Chang
    Lead Product Manager, Carta
  • Hunter Somerville
    Hunter Somerville
    General Partner at Greenspring Associates

    Hunter is a General Partner at Greenspring Associates and is responsible for sourcing and due diligence efforts on fund, direct and secondary opportunities. He is also actively involved in the assessment of micro-vc managers for the Firm. Additionally, Hunter serves on the LP Advisory Boards for 5 AM Ventures, K2 Venture Capital, Arthur Ventures, Anthos Capital, Pear, Bullpen Capital, Redpoint China, Fika Ventures, Felix Capital, Foundry Group, Imaginary Ventures, Pioneer Square Labs, Primary Ventures, Scale Venture Partners, TLV Partners, Boldstart Ventures, Ludlow Ventures, MaC Venture Capital and Work-Bench. Hunter also serves on the board of Xometry and is a board observer for Aqua Security, Omnispace, LogicGate, Matrix Medical Network, G5, Rocket Lab and Electric. Prior to joining Greenspring, Hunter worked as an Associate for Camden Private Capital. While at Camden Private Capital, he conducted due diligence and monitored fund investments across venture capital, growth equity, debt, and buyout structures.

  • Joe Aguilar
    Joe Aguilar
    Director, Investment Analysis and Due Diligence at Illinois State Treasurer

    As Director of Investment Analysis and Due Diligence at the Illinois State Treasury, Mr. Aguilar’s duties include overseeing all externally managed investment programs managed by the Treasurer’s Office, equating to approximately $12 billion in assets. Under his purview include investment programs for the Illinois Growth and Innovation Fund, a $1b impact investment fund, two 529 College Saving Plans, the State’s Achieving a Better Life Experience program and the Secure Choice Retirement Savings Program. Mr. Aguilar is responsible for the oversight and implementation of the manager selection process, assessment and monitoring of all external public and private market investment managers including venture/private equity/private credit managers invested through the office’s platforms.

  • Mina Pacheco Nazemi
    Mina Pacheco Nazemi
    Co-Head of Funds & Co-Investments of Barings

    Mina Pacheco Nazemi is a Co-Head of the Funds & Co-Investments team and serves on both the investment committee and valuation committee. She is also responsible for originating, underwriting and monitoring primary fund, direct/co-investments, and secondary fund opportunities for private equity and real assets. Mina has worked in the industry since 1998 with experience as a General Partner and Limited Partner investor in private markets and focused on underwriting direct/co-investment opportunities. Prior to joining the firm in 2017, Mina held several leadership and investment positions including Co-Founder and Partner at Aldea Capital Partners and Partner and Investment Committee Member at GCM Grosvenor Customized Fund Investment Group (formerly Credit Suisse CFIG). She is an alumna of Sponsors for Education Opportunity (SEO) and Robert Toigo Foundation. She also is a board member of the Pan American Development Fund and serves on the investment committee for the City of Hope. Additionally, Mina is a current Finance Fellow for The Aspen Institute. Mina holds a Bachelor of Arts with honors in Economics and Political Science from Stanford University and her Master of Business Administration from Harvard Business School.

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