Quick notes on LPs #3 LACERs

Source: LACERS

Background

Selection Criteria

For all funds

EMERGING INVESTMENT MANAGER CRITERIA

  • GP’s first or second fund.
  • Firm has less than $1B in AUM.
  • minimum fund size of $100M.
  • Firm should be at least one year old.
  • Minimum ownership of employees and GPs is 49%.
  • No LP can represent more than 30% of the fund.
  • Individual/firm must have a track record of at least five years.
  • LACERS will not invest more than 10% or $30M of fund size (whichever lower).

Non-emerging funds

Other info:

Performance Breakdown of VC allocation

Early Stage VC

Source: LACERS, Cambridge Associates

Late Stage VC

Source: LACERS, Cambridge Associates

Multi-Stage VC

Source: LACERS, Cambridge Associates

Conclusion

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Muieen Cader

I write about Venture Capital. Previous VC experience with Betatron. Advisor to startups (across the globe) and sailor.