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Jamie Biddle (Founding Partner and CEO) & Steve Kim (Partner, Investment Strategy and Risk Management) of Verdis Investment Management, sit down with David Weisburd to discuss how Verdis has managed to invest into 41 unicorns by indexing early-stage venture capital funds
Jamie Biddle (Founding Partner and CEO) & Steve Kim (Partner, Investment Strategy and Risk Management) of Verdis Investment Management, sit down with David Weisburd to discuss how Verdis has managed to invest into 41 unicorns by indexing early-stage venture capital funds, how they came up with the venture index thesis, and the practical considerations of executing on their venture index strategy. They also discuss the purpose of venture in a diversified portfolio, the benefits of QSBS for taxable investors, and avoiding adverse selection in venture capital.
The 10X Capital Podcast is part of the Turpentine podcast network. Learn more: turpentine.co
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X / Twitter:
@dweisburd (David Weisburd)
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LinkedIn:
Jamie Biddle: https://www.linkedin.com/in/jamescbiddle/
Steve Kim: https://www.linkedin.com/in/stevenrkim/
Verdis Investment Management: https://www.linkedin.com/company/verdis-investment-management/
David Weisburd: https://www.linkedin.com/in/dweisburd/
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LINKS:
Verdis Investment Management: https://www.verdisinvestment.com/
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Questions or topics you want us to discuss on The 10X Capital Podcast? Email us at david@10xcapital.com
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TIMESTAMPS:
(0:00) Episode preview
(1:18) Overview of Verdis
(3:18) Shifting investment focus and tax considerations in asset selection
(4:39) Verdis’s approach to venture capital
(5:24) Indexing early-stage venture capital
(7:22) Key factors influencing venture capital returns
(8:35) The role and tax benefits of venture investments in a portfolio
(11:02) Performance of the venture capital index strategy
(13:23) Family office dynamics
(14:26) Follow & subscribe to the 10X Capital Podcast
(14:47) Unicorn capture rate and venture capital power laws
(16:32) Comparing generalist and sector-specific funds
(18:48) Loss ratios and execution of the venture index strategy
(21:10) Developing and reflecting on the venture index thesis
(25:45) Key learnings from Verdis & investing as a family office
(26:52) Practical constraints on over-allocating to venture
(29:39) Closing remarks
