David Weisburd interviews Lo Toney about his transition from angel investor to fund manager, his role at Plexo Capital, and his approach to working with founders. They discuss the importance of patience in early-stage investments, the diligence process for managers, and the strategy behind selecting LPs. 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
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X / Twitter:
@lo_toney (Lo)
@dweisburd (David)
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LINKS:
Plexo Capital: https://www.plexocap.com/
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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.
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Questions or topics you want us to discuss on The Limited Partner podcast? Email us at david@10xcapital.com
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TIMESTAMPS
(0:00) Evaluating young firms and the role of GP
(1:00) Introduction to the guest, Lo Toney and his journey to Plexo Capital
(9:34) Transition from angel investor to fund manager
(11:44) Sponsor: Vidal Insurance Group
(14:58) Importance of delivering DPI and patience in early stages of investment
(20:21) Diligence process for a manager that's on strategy and importance of feedback for GPs
(26:44) Role of a VC and the approach to working with founders
(32:37) Building an LP base: the journey from GV to Alphabet and the strategy behind selecting LPs
(40:27) Managing GP-LP relationships and deciding on future fund inclusion
(45:37) Assessing diversity within venture capital and the impact of fund/check sizes on returns
(48:40) Introduction of GPX: A platform for transitioning investors to fund managers
(54:29) Global perspective and investment scope of Plexo Capital and closing remarks
