In our latest episode of the 10X Capital Podcast, we sat down with Josh Porter, a contrarian LP who bucks the conventional wisdom of the industry. He made an interesting point:
In his view, the best fund managers understand that their Limited Partners (LPs) are their customers and the founders are their product. This is a stark contrast to the prevalent belief that founders are the customers of venture capitalists.
This might sound counterintuitive, but it's an important reminder of the dual focus required in this business. Yes, nurturing relationships with founders is key, but so is maintaining a professional and transparent dialogue with LPs.
His perspective is not a one-size-fits-all solution, but it's certainly food for thought. Could this approach be the secret to building great venture franchises?
Listen to the full episode E76: How FirstLook Picks the Top 10% of Venture Funds on the 10X Capital Podcast to delve deeper into this unconventional approach.
