The individual versus fund distinction is where LP diligence keeps failing. Nanda, Samila and Sorenson found initial success persists largely because it buys access to better deal flow, not because the skill compounds. So the track record you are underwriting is really an access position, and it walks out the door with the two partners who built it.
The individual versus fund distinction is where LP diligence keeps failing. Nanda, Samila and Sorenson found initial success persists largely because it buys access to better deal flow, not because the skill compounds. So the track record you are underwriting is really an access position, and it walks out the door with the two partners who built it.
Yes. GP continuity is one of the strongest indicators of persistent performance https://euclid.substack.com/p/the-mind-virus-of-big-venture?r=kd2ml&selection=a3c3f51a-c01a-4489-905d-f439f558ffdb&utm_campaign=post-share-selection&utm_medium=web&aspectRatio=instagram&textColor=%23ffffff&bgImage=true