Fernando Pontaza, Co-Founder of Invariantes sits down with David Weisburd to discuss setting up the first Guatemalan Venture Capital Fund and why he targets a 25% IRR. We’re proudly sponsored by Bidav Insurance Group, visit lux-str.com if you’re ready to level up your insurance plans.
The Limited Partner podcast is part of the Turpentine podcast network. Learn more: turpentine.co
--
X / Twitter:
@fpontaza (Fernando)
@dweisburd (David)
--
LINKS:
Invariantes: https://www.invariantes.com/
--
SPONSOR: Bidav Insurance Group
The Limited Partner Podcast is proudly sponsored by Bidav Insurace Group.
Today's episode is sponsored by Bidav Insurance Group. Bidav Insurance Group is run by my close friend, Ahmet Bidav, who insures me both personally and at the corporate level.
Most people are not aware of the inherent conflicts in insurance, where insurance agents are incentivized to send their clients to the most expensive option. Ahmet has always been an incredible partner to me and 10X Capital, driving down our fees considerably while providing a premium solution. I am proud to personally endorse Ahmet and I ask that you consider using Bidav Insurance Group for your next insurance need, whether it be D&O, cyber, or even personal, car, and home insurance.
You could email Ahmet at ahmet@luxstr.com.
--
Questions or topics you want us to discuss on The Limited Partner podcast? Email us at david@10xcapital.com
--
TIMESTAMPS
(00:00) Episode Preview
(01:25) The genesis of Invariantes, the first Guatemalan venture fund
(03:11) The fund strategy
(05:19) How Fernando won over Latin American investors
(06:57) Powerlaw distributions and how they impact returns
(08:36) Episode Sponsor: Bidav Insurance Group
(09:48) The importance of smoothing out returns
(10:55) What to look for in a fund manager
(12:30) How to build LP/GP relationships
(14:47) Common mistakes when investing in emerging managers
(18:46) Diligencing co-investments
(21:58) Is signal important?
(23:30) The importance of open communication
(24:57) The purpose of the LPAC
(25:41) Best practices when fundraising in Latin America
(28:02) The dangers of direct deals
(33:58) How to reach Fernando
