Artwork

Turner Novak에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Turner Novak 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Player FM -팟 캐스트 앱
Player FM 앱으로 오프라인으로 전환하세요!

How To Generate Alpha in Venture Capital | Albert Azout, Level Ventures

1:20:56
 
공유
 

Manage episode 504345176 series 3489338
Turner Novak에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Turner Novak 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Albert Azout is the Co-founder and Managing Partner of Level Ventures, combining first-principles thinking with state-of-the-art data science to back and build top seed-stage firms and their breakout companies.

Venture investing is hard, and this conversation covers all their research unpacking exactly how to generate alpha.

We also talk about how Level picks and backs emerging venture managers to invest in, and Albert gives a demo of the custom internal software they’ve built.

Thank you to Jake Kupperman, Sasha Kaletsky, Nathan Benaich, Amanda Robson, and Dave Fontenot for helping brainstorm topics for the conversation.

Special thanks to Ramp for supporting this episode. It's the corporate card and expense management platform used by over 40,000 companies, like Shopify, CBRE and Stripe. Time is money. Save both with Ramp. Get $250 for signing-up here: https://ramp.com/ThePeel

Try Hanover Park - the modern, AI-native fund admin https://www.hanoverpark.com/Turner

Timestamps:

(5:01) Top 3 forms of alpha in VC

(10:11) Other ways to generate alpha

(12:47) Avoiding false positives

(17:11) Optimal fund size and portfolio construction

(22:25) The role of Luck

(23:55) Spin-out vs outsider funds

(25:43) Level’s backchannel reference process

(29:29) Finding alpha in Criticality Investing

(34:45) Why capital flows drive all returns

(43:53) Early, consensus investing has the most alpha

(48:46) Networks are more persistent than performance

(52:03) The strongest and weakest networks

(58:41) Demo of Level’s internal software

(1:04:48) Building a Fund of Funds around their data

(1:10:01) Ideal LP GP relationship

(1:12:39) Benchmarks are relative

(1:15:39) VC funds using AI

(1:17:43) How venture will change in the next 10 years

Referenced

Level Ventures: https://levelvc.com/

Level’s Research Papers: https://levelvc.com/research/

Follow Albert

LinkedIn: https://www.linkedin.com/in/albertazout/

Newsletter: https://albertazout.substack.com/

Follow Turner

Twitter: https://twitter.com/TurnerNovak

LinkedIn: https://www.linkedin.com/in/turnernovak

Subscribe to my newsletter to get every episode + the transcript in your inbox every week: https://www.thespl.it/

  continue reading

113 에피소드

Artwork
icon공유
 
Manage episode 504345176 series 3489338
Turner Novak에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Turner Novak 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Albert Azout is the Co-founder and Managing Partner of Level Ventures, combining first-principles thinking with state-of-the-art data science to back and build top seed-stage firms and their breakout companies.

Venture investing is hard, and this conversation covers all their research unpacking exactly how to generate alpha.

We also talk about how Level picks and backs emerging venture managers to invest in, and Albert gives a demo of the custom internal software they’ve built.

Thank you to Jake Kupperman, Sasha Kaletsky, Nathan Benaich, Amanda Robson, and Dave Fontenot for helping brainstorm topics for the conversation.

Special thanks to Ramp for supporting this episode. It's the corporate card and expense management platform used by over 40,000 companies, like Shopify, CBRE and Stripe. Time is money. Save both with Ramp. Get $250 for signing-up here: https://ramp.com/ThePeel

Try Hanover Park - the modern, AI-native fund admin https://www.hanoverpark.com/Turner

Timestamps:

(5:01) Top 3 forms of alpha in VC

(10:11) Other ways to generate alpha

(12:47) Avoiding false positives

(17:11) Optimal fund size and portfolio construction

(22:25) The role of Luck

(23:55) Spin-out vs outsider funds

(25:43) Level’s backchannel reference process

(29:29) Finding alpha in Criticality Investing

(34:45) Why capital flows drive all returns

(43:53) Early, consensus investing has the most alpha

(48:46) Networks are more persistent than performance

(52:03) The strongest and weakest networks

(58:41) Demo of Level’s internal software

(1:04:48) Building a Fund of Funds around their data

(1:10:01) Ideal LP GP relationship

(1:12:39) Benchmarks are relative

(1:15:39) VC funds using AI

(1:17:43) How venture will change in the next 10 years

Referenced

Level Ventures: https://levelvc.com/

Level’s Research Papers: https://levelvc.com/research/

Follow Albert

LinkedIn: https://www.linkedin.com/in/albertazout/

Newsletter: https://albertazout.substack.com/

Follow Turner

Twitter: https://twitter.com/TurnerNovak

LinkedIn: https://www.linkedin.com/in/turnernovak

Subscribe to my newsletter to get every episode + the transcript in your inbox every week: https://www.thespl.it/

  continue reading

113 에피소드

모든 에피소드

×
 
Loading …

플레이어 FM에 오신것을 환영합니다!

플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.

 

빠른 참조 가이드

탐색하는 동안 이 프로그램을 들어보세요.
재생