On today’s Tank Talks we have Eric Woo, founder and CEO of Revere VC, which is a company he describes as becoming the Vanguard for VC. With so much funding and new ways for founders and VCs to raise capital, what will be the new normal for fundraising and VC in general.
Eric Background: Eric is an experienced investor and thought leader in the emerging manager and micro VC ecosystem. Eric has deployed over $150M across funds and direct investments throughout his career. He started his career in Venture as Principal at Northgate Capital and then moved over Top Tier Capital. Most recently, Eric was Head of Institutional Capital at Angelist before launching Revere VC last year to build a new model described as the “Vanguard for Venture Capital”.
In this episode we discuss:
01:25 Why Wric is so passionate about the emerging VC space
02:52 History of emerging managers
05:20 Limits of specialization of funds
08:03 How LPs can force emerging managers to grow away from specialization
11:20 Power law and portfolio construction
13:48 SPVs for follow-on vs. reserves
15:51 Creating access through community and how LPs view side hustles
18:19 How LPs use references to vet investments
20:36 Rolling funds and how institutional investors view them
24:12 What is edge in VC in 2021
27:57 Investing in information
32:10 It’s not how you invest, it’s what you invest in
34:11 About Revere VC
35:55 How Eric is working to change the mindset around investing
38:05 Venture philanthropy
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