20VC: How Fundraising For Funds Has Changed in The World of COVID, The Benefits of Managers Selling Part of Their GP & How To Think Through Your “Minimum Viable Fund Size” with Lo Toney, Founding Managing Partner @ Plexo Capital

Lo Toney is the Founding Managing Partner @ Plexo Capital, an extremely special firm making both direct investments and fund investments. They have bought Precursor, Boldstart, Female Founders Fund and WorkBench on the fund side and after that PlayVS, Replicated and StyleSeat on the direct side. Prior to Plexo, Lo was a Partner @ GV (Google Ventures) and before that was a Partner with Comcast Ventures where he led the Catalyst Fund. Prior to endeavor Lo was an operator taking pleasure in officer roles at Zynga, Nike and eBay.
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In Todays Episode You Will Learn:
1.) How Lo made his way into the world of endeavor with GV and how that caused his innovating on the endeavor model investing in both funds and straight with Plexo today? What were Los most significant takeaways from his 5 years as a Partner @ GV?
How does this vary reliant on the phase they invest and the size of fund they are raising? How does Lo recommend managers interacting with existing and new prospective LPs today?
3.) What does Lo suggest when he discusses your “minimum feasible fund size”? How does Lo advise GPs when it pertains to closing techniques? How much do they need for first close? How numerous closes should there be afterwards? Should they take the cash when it is on the table?
4.) How does Lo feel about anchor LPs taking/investing in the GP? What are the advantages for the supervisor of doing so? Why does Lo think there is such a binary view towards it? Why does Lo disagree with the benchmarks set of what a GP commit “should be”?
Why does Lo believe we will see the hybridization of GP/LP over the coming years? How does Lo envisage the world of venture progressing over the next years?
Items Mentioned In Todays Show:
Los Fave Book: Why Should White Guys Have All the Fun?: How Reginald Lewis Created a Billion-Dollar Business
Los Most Recent Investment: PlayVS
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