Who is involved in running and managing the fund?
We have a full-time Managing Partner and Vice President who are in charge of assembling the portfolio. We manage the fund with the assistance of our parent company, Launch Angels. Launch Angels is the back-office support for our fund and multiple sibling funds. This structure allows us to share expenses, systems, processes, best practices, and even deals. The Launch Angels Board advises on strategy, growth, and governance.
What is your investment strategy?
Our strategy is to spread our bets over a number of high-quality venture deals: 15-25 per annual fund. Diversifying across industry, stage, and geography minimizes risk and lets us focus on best opportunities for value creation. Another key part of our strategy are to co-invest behind smart, professional investors (the folks with sector expertise) who lead the round and provide material value-add to a company. The third element of our strategy is relying on our alumni community to not only provide capital, but to also help us source and evaluate deals. That alumni connection helps us gain access to a steady flow of interesting deals. Simply put, we can do better together than we can alone.
Isn't being focused on alumni-only deals overly restrictive?
The number of opportunities is actually very large. Two things to keep in mind: first, the generations of alums that have graduated and continue to graduate from the school is very large and evergreen, and second, we broadly define this alumni connection so we can consider a broad set of opportunities. Not only can we invest in a company where there is an alum (or school connection) on the executive team, but also where an alum is either a Board member, investor, or the source of the deal.