Key Takeaways
- Get insights and ideas from a panel of prominent LPs and EMs at a webinar hosted by SVB partner, StartOut to bring more diverse backgrounds and perspectives to your managing partners list.
While a first fundraise for emerging managers is notoriously difficult, for diverse fund managers, fundraising can be even more of a challenge. Despite a widespread industry understanding of the importance of prioritizing diversity, there is still a staggering disparity in the funding allocated toward underrepresented fund managers.
To lessen the gap between these promising new managers and the LPs they seek to build relationships with, our SVB partner, StartOut, hosted a virtual event featuring prominent LPs and EMs. The webinar featured:
- Charles Hudson, Managing Partner at Precursor Ventures
- McKeever (Mac) Conwell II, Managing Partner at Rarebreed Ventures
- Kelli (Trent) Fontaine, Partner at Cendana Capital
- Ian Foley, Partner at Level Ventures
- as well as our own Daniel Dehrey, Managing Director of the SVB Emerging Manager Practice
The event included the following key topics and advice from the diverse panel:
- While a fund’s thesis may be compelling, it is especially important to present the vision for the fund in a way that resonates with LPs
- It may take much longer to raise a fund than anticipated, so being patient while avoiding burnout is vital
- While many emerging managers have a generalist investment thesis, proving differentiation is essential for LPs
- Networking and building a supportive community should be a top priority
Please read StartOut’s report for a closer look into valuable advice and perspectives for emerging fund managers. The report also includes insights and data points from polled attendees.
About StartOut
Founded in 2009, StartOut, a national 501(c)(3) non-profit organization, is the largest national organization to support LGBTQ+ entrepreneurs with over 18K members nationwide. Its mission is to increase the number, diversity, and impact of LGBTQ+ entrepreneurs and amplify their stories to drive the economic empowerment of the community. StartOut helps aspiring LGBTQ+ entrepreneurs start new companies; supports current entrepreneurs as they grow and expand their existing businesses; and engages successful entrepreneurs as role models and mentors, on its online portal and through targeted events nationwide. For more information, please visit www.startout.org.
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