Funds that Won

In this episode of "Funds That Won," I sit down with Peter Birk from Catalyst Partners, a subsidiary of Moelis Asset Management, focused on seeding new and emerging private equity managers. Peter discusses the strategy behind Catalyst Partners, which includes backing debut private equity funds with sizable checks ranging from $50 to $100 million. He shares insights into how they support managers through first-close capital and revenue share arrangements, and the importance of talent and grit in building a successful asset management firm. The conversation offers a deep dive into the world of private equity seeding and the challenges and opportunities it presents.

In this episode of "Funds That Won," Lincoln interviews Jack Selby from AZ-VC, a venture fund focused on supporting Arizona-based entrepreneurs. Jack shares the challenges Arizona startups face in securing Series A funding locally and how AZ-VC aims to fill that gap by leveraging his extensive network from his PayPal days. They discuss the current state of the venture capital market, the importance of timing, and how Jack's deep commitment to Arizona's tech ecosystem drives the fund's strategy. Jack also reflects on the personal motivations and experiences that led him to launch AZ-VC.

In this episode of "Funds That Won," I sit down with Andrew Smith from the Savory Fund to discuss their unique investment strategy in the food and beverage industry. Andrew shares how the Savory Fund targets emerging food brands with 5 to 15 units and supports their growth with a robust operating team and dedicated capital. He delves into the fund's success, raising and deploying substantial funds to scale promising brands, and the importance of disciplined investment and active management. Tune in to hear insightful stories and practical advice on navigating and thriving in the dynamic world of food and beverage investments.

In this episode of "Funds That Won," I sit down with Brock Mogensen from Smart Asset Capital to discuss the inception and growth of their company. Brock shares how Smart Asset Capital evolved from a property management and brokerage firm into a syndication and private equity business, leveraging existing infrastructure to scale quickly. He delves into their strategic focus on industrial real estate, highlighting the opportunities and returns in this sector. Brock also explains their decision to shift from syndication deals to launching their first fund, aiming to diversify investor risk and capitalize on multiple deals simultaneously.

In this episode of "Funds That Won," I sit down with Brent Mott of Bow Tie Capital, a firm specializing in commercial real estate syndications and funds. Brent shares insights into Bow Tie Capital’s unique approach, including their focus on raising funds from non-accredited investors and their diverse portfolio spanning self-storage, medical office buildings, and affordable housing developments. He also discusses the firm's ambitious goal of managing a billion dollars in assets by the end of the decade. Tune in to hear Brent's inspiring journey from leaving his corporate job to controlling nearly $200 million in assets and his vision for the future of Bow Tie Capital.

In this episode of "Funds That Won," Colin Greenspon from Narya discusses his venture capital firm's unique focus on funding companies addressing critical societal issues like GDP growth, improving American lives, and protecting sovereignty. He explains how Narya prioritizes investments in industrial sectors such as agriculture, energy, and defense, often in overlooked regions like Ohio and Illinois. Colin shares insights into their strategic partnerships, including co-founders JD Vance and Peter Thiel, and their concentrated investment strategy. Highlighting successful investments like a gene therapy company and a faith-based app, he demonstrates Narya's commitment to impactful, long-term investments. Colin also offers advice for emerging fund managers, emphasizing the importance of a clear thesis, a strong network, and genuine conviction in their choices.

For today's episode, I sat down and did a winners circle on Ares Capital Management. Ares Capital Management is a major asset manager specializing in private credit, managing over $428 billion, with more than $300 billion in this asset class. Founded in 1997 as a spin-out from Apollo, they quickly grew through acquisitions and went public in 2004. Known for consistent, strong returns and low downside risk, Ares caters to large endowments and pension funds. Despite controversies, such as their handling of PPP loans during COVID-19, Ares remains a leader in the private credit market.

Enjoy!

In this episode of Funds That Won, I sit down with Nitin Pachisia from Unshackled Ventures, a fund focused on supporting immigrant founders by managing their immigration processes. The Unshackled team consists of immigrant founders that understand the stress of navigating visas, government agencies, and the intense start-up atmosphere. Nitin explains their unique approach of investing in founder potential rather than business plans, emphasizing early-stage investments. The discussion highlights the importance of maintaining a disciplined investment thesis and following intuition in venture capital.

For today's episode of "Funds That Won," I sit down with Michael Swensson, co-founder of M 31 Capital, a global investment firm specializing in AI and blockchain technologies. Michael discusses the unique investment strategies of M 31 Capital, emphasizing their focus on decentralized finance and Web3 as pivotal elements shaping the future of finance and technology. He provides insights into the firm's growth, highlighting its global team and decentralized operations, which contribute to its dynamic market presence.

In this episode of Funds That Won, I sit down with Kate Beardsley from Hannah Grey. Kate discusses Hannah Grey's focus on pre-seed and seed investments, emphasizing their commitment to backing customer-obsessed founders who redefine everyday experiences. She provides insights into their investment strategy, highlighting their approach to portfolio construction, cultural trends analysis, and their emphasis on team dynamics and market timing. Kate also shares the story behind the founding of Hannah Grey and offers advice for aspiring fund managers, underscoring the importance of strong partnerships and thorough preparation.

In this episode of "Funds That Won," Arthur Roulac from Three Court discusses their investment strategy, focusing on middle market and lower middle market credit investing, primarily through purchasing discounted loans and bonds. Arthur emphasizes the value in these often overlooked markets, noting the firm's methodical approach to finding opportunities for returns through interest and price appreciation. He also highlights the firm's lean structure, founded in 2012, which manages over $100 million in assets with a small, dedicated team. Lastly, Arthur shares insights on the importance of having a clear point of view, strong partnerships, and the right client expectations for fund management success.

In this episode of "Funds That Won," we sit down with Alexis Morgan from Peach State Capital, a real estate investment firm based in Atlanta, Georgia. Alexis shares the unique aspects of Peach State Capital, including their focus on providing short-term bridge loans to real estate investors and their competitive advantage of quick transaction execution. Additionally, we dive into Alexis's journey from wholesaling real estate to managing a fund with over six million dollars in investor capital by 20 years old. Alexis discusses the importance of forming strong partnerships, the challenges of fund management, and his vision for scaling Peach State Capital. Finally, she also emphasizes the value of surrounding oneself with experienced mentors and constantly learning to achieve success in the finance industry.

In this episode of "Funds That Won," Kristian Hanelt from Ultra Capital discusses the firm's unique approach to energy transition investments. He explains that Ultra Capital focuses on businesses that are asset-heavy and execution-oriented, filling a gap between traditional venture capital and large-scale private equity. Kristian shares insights into Ultra Capital's strategy, highlighting their focus on proven technologies like solar, batteries, and electric vehicle infrastructure. Additionally, he emphasizes the importance of mentorship, strong judgment of character, and a disciplined investment approach in achieving success.

For today's episode of Funds That Won, I sit down with Ludwig Schulze from Alumni Ventures. Ludwig discusses how their fund uses alumni connections to find and invest in new businesses. He explains that they don’t lead investment rounds but instead invest alongside other big venture funds. Ludwig emphasizes the importance of having a lot of investment opportunities and their method of carefully evaluating these opportunities. He also shares how they've successfully raised money from individual investors and the value of building good relationships with the founders they support.

For today's episode of Funds that Won, I am posting the recording of a panel we did this year at Fund Launch Live. This panel discussion was on the future of technology in alternative assets. These were the panelists:

Andrew Smith: GP at the Savory Fund - $750 million AUMBryce Sutton: Co-Founder and Managing Partner at Summit Global Investments - $2+ Billion AUMDan Young: Co-Founder of Ugly Unicorn crypto fund - 8 Figures AUMKoloa Wolfgramm: Founder of Wolfgramm Capital - $600 million AUM

There were a lot of great conversations during this panel! Enjoy

In today's episode of Funds That Won, I sit down with Zach Brown, who is a founding partner at New Reign Capital. New Reign Capital is an investment fund that focuses on commercial insurance. He explains that "New Reign" symbolizes new leadership, reflecting his and his partner's goal to be the mentors they never had. New Reign Capital is different from their previous company, Modern Rain, and aims to improve efficiency in acquired companies by centralizing their back-office functions. They own nine companies and look for new acquisitions that can benefit from sharing their existing customer base. Zach discusses their plans to expand by starting a larger fund, aiming to raise $30 to $50 million to grow their business model and acquire bigger companies.

Zach details New Reign Capital's approach to business, which keeps acquired companies operationally independent rather than merging them. This method maintains each company's specialized skills and avoids the problems large merged entities often face, such as losing focus and efficiency. He talks about the commercial insurance industry and how his firm adds value through deep industry knowledge and a strong network. This strategy helps streamline and speed up the claims process across various service stages. Zach also shares personal stories about his move to California and early career challenges, highlighting his commitment to hard work, integrity, and community engagement in the industry.

For today's episode, I am uploading the audio from my presentation at Fund Launch Live 2024! In this presentation, I break down the 4 core pillars for structuring your investment offering:

Your asset classYour strategyYour teamThe structure of your offer

On top of that, I also dive into how you can properly communicate these pillars to potential investors.

Enjoy!

For today's episode, I sit and give an update on our GP stakes fund - Fund Launch Partners. With the successful raise of our initial $1.2 million from friends and family, we've set a strong foundation and have really validated our GP stakes thesis. Despite the complexity and the time it has taken to get to our first close, the experience has been instrumental in shaping our strategy and operations, confirming the massive job it is to run a fund.

Over the last few moths, we've struck deals with very impressive emerging funds like Ollin Ventures, Venatic Capital, and a PE/Real Estate firm out of Arizona. They have been great to work with, and we really believe in their potential to scale.

For today's episode, I sit down with Todd Recknagel from Three20 Capital Group. Todd dives into franchise investment and his family office's strategic operations. He outlines their focus on franchise companies and their collaborative strategy with private equity firms, leveraging extensive franchising experience. This approach has cultivated a successful track record, emphasizing the importance of active involvement in deal creation, management guidance, and industry knowledge utilization. The conversation highlights the investment philosophy and operational model of Recknagel's family office, established after successful exits from multiple companies, targeting middle-market entities and facilitating growth without excessive capital commitment to any single deal.

Todd also discusses investment management practices, such as liquidity handling and the value of proprietary deal sourcing, are discussed, along with the critical role of operational excellence in enhancing portfolio company value. He emphasizes the profitability of franchisees as a key performance metric, demonstrating a deep understanding of the franchising model and a strategic, risk-balanced investment approach.

For today's episode, I sit down with David Mullings from Blue Mahoe Capital. David shared insights on bridging investors with the Caribbean's vibrant markets, particularly leveraging Jamaica's stellar stock market performance. By emulating the business models of Berkshire Hathaway and Blackstone, Blue Mahoe Capital offers diversified investments across real estate, private equity, and public equities, aiming to make Caribbean growth accessible to global investors. Bowlings highlighted the company's dedication to educating investors and promoting a global perspective among its portfolio companies.

David also shared personal success habits, including maintaining life balance, mindfulness, continuous education, and philanthropy. He criticized the industry's common pitfalls, such as under-appreciating marketing, hoarding equity, and unfair negotiation practices. His commentary not only illuminates the untapped opportunities in the Caribbean but also emphasizes the importance of ethical investment practices and personal development in achieving business success.

For today's episode, I sit down with Thomas Wilkinson, the founder of Ollin Ventures. Tom describes Ollin Ventures as a culmination of his life's experiences, with a focus on seizing the current favorable market conditions that present significant discounts on valuations in the venture capital space. Wilkinson's strategy is centered around early-stage, pre-seed, and seed investments, with a particular interest in technology transfers from universities, aiming to commercialize innovations developed in academic settings. His personal investment experience, marked by successful outcomes, has inspired friends and family to join him in this venture, laying the groundwork for Ollin Ventures.

Wilkinson details the operational model of Ollin Ventures, emphasizing the fund's aim to invest in 50 companies, primarily sourced from tech transfer offices, to optimize the fund's impact and returns. Ollin Ventures also supports startups through an incubator program, offering comprehensive assistance including free legal and accounting services, mentorship, and a focus on entrepreneurs under 35. Wilkinson's passion for venture capital, his belief in Utah's potential as an innovation hub, and his commitment to impactful investments underscore the promising outlook for Ollin Ventures.

For today's episode, I have the pleasure of sitting down with Clay Gordon from Stout Street Capital. Stout Street Capital, based in Denver, focuses on early-stage investments with sensible risks and outsized returns, mainly targeting "flyover" states and Canada. Having made 80 investments since 2017, they've shifted to a single check strategy for higher initial ownership, diverging from the typical VC practice of doubling down on winners. This method is based on their data analysis, suggesting a larger ownership in winning investments without following on in later rounds.

They plan to scale, potentially increasing their AUM to enhance their capacity to support companies and adjust investment sizes. Initially sparked by the structured investment gap among high-net-worth individuals, the founders aimed for a systematic, scalable approach akin to a franchise model. This ensures anyone could replicate their investment success. Alongside initiatives like the Unmet Conference, this strategy underpins their broader aim to offer more than financial returns, aiming for a significant ecosystem impact.

In today's episode of Funds That Won, I have the privilege of sitting down with Jim Falbe from Saguaro Capital. Jim talks about starting his own investment firm, Saguaro Capital, after working in humanitarian aid. He explains how the firm uses advanced technology and AI to make better investment choices. Jim shares the challenges of creating a high-quality investment firm, and the importance of having a supportive board of directors to guide the firm.

Additionally, Jim discusses an innovative strategy he uses to raise money for his company, which is offering a share of the business in return for financial support. This approach helps them get the funds they need without giving away too much control. He highlights the importance of learning and growing, both for himself and his team. Jim's journey shows his commitment to blending traditional investing with new technologies to improve his firm's success.

Trent Mano from Convoy Ventures joins us for todays episode to talk about his funds unique investment approach. Convoy Ventures focuses on early-stage startups in Utah, aiming to be the first investors in technology companies. Their investments mainly include SaaS and FinTech, but they also explore consumer tech, marketplaces, and Web3/crypto ventures. This strategy highlights Convoy's commitment to nurturing innovative ideas and founders within Utah's tech ecosystem.

Convoy Ventures employs a diversified investment approach, supporting both sought-after founders in oversubscribed rounds and those less recognized. They prioritize the potential of founders and their ideas, maintaining an open-door policy to build a supportive startup community. By leveraging a network of founders and operators, Convoy ensures startups receive substantial support and strategic introductions. This approach demonstrates Convoy's active and supportive venture capital model, focused on early engagement and ongoing assistance to foster successful startups in Utah.

Join us in this episode of Funds That Won as we dive into structuring an investment thesis with special guest Nick Singleton from Aim Ventura. Discover how successful funds identify and articulate their unique investment theses, and learn how this crucial strategy has propelled Aim Ventura to success.

Nick is responsible for sourcing deals, tracking status of each deal, company analysis, due diligence, investment relations, oversight of associates and interns, transaction management, networking and maintaining key referral relationships, creating marketing material, work with external vendors and advisors, and other day-to-day fund tasks.

Prior to joining AIM in January 2020 Nick spent 6 years working for sell-side boutique investment banks in Salt Lake City, UT and Tacoma, WA. He has advised and executed many M&A transactions with both private equity and strategic buyers in multiple sectors and industries.

Nick is a Series 82 and 63 Registered Representative, a licensed real estate agent in the State of Utah and received a B.S. in Finance from Utah State University.

He is an avid fan of the 49ers, Utah State Aggies, and Manchester United. In his free time he enjoys hiking, playing golf, road biking, and watching or attending any sporting event.

Today on Funds that Won, I sat down with Krista Morgan of Stage. Stage is an exciting private equity fund that focuses on acquiring early-stage companies that need an alternative path to success. They help companies realize their full potential by providing a comprehensive set of business services including financing, restructuring, and operational oversight.

Excellent conversation with Krista, don't forget to rate and review!

In this episode of Funds That Won, I explore the fascinating story of Apollo Global Management, one of the largest private equity VC firms in the market. I delve into how the firm brought different asset classes into the mix, their growth strategies, and core structures. I also provide insights from one of the founders, Marc Rowan, and how he built a winning fund. Tune in to learn more about this influential investment fund.

Learn more about Fund Launch Partners: https://www.fundlaunchpartners.com/?sl=podcast

Today I sat down with Ryan Gibson, president and CIO of Spartan Investment Group. Ryan and his business partner have built an excellent self-storage company with retail investors across America. Wonderful conversation with Ryan. We discuss the benefits of internal property management, patience in business, the benefits of syndications versus funds, investor preferences, and a whole lot more.

Ryan Gibson is the President, Chief Investment Officer, and Co-Founder of SIG. He has organized over $200M of private equity for Spartan’s projects. Ryan has experience managing the development of SIGs projects in challenging markets.

For SIG, Ryan is responsible for investor relations and capital raises for projects. Ryan is also a highly experienced commercial airline pilot. Ryan graduated from Mercyhurst University with a bachelor’s degree in Business, with concentrations in Marketing, Management, and Advertising.

[00:02:13] Targeting retail investors.

[00:06:43] Different investment products offered.

[00:08:11] Growth fund and construction capabilities.

[00:11:18] Debt facility and capital positions.

[00:15:23] Private credit product structure.

[00:21:03] Background and starting the business.

[00:23:45] Scaling self-storage business.

[00:29:26] Syndication and scaling the business.

[00:30:10] Fund vs. Single Asset Indication.

[00:35:05] Scaling with the right people.

[00:38:40] Funds That Won.

[00:41:41] ECRIs and self-storage profitability.

[00:44:57] Knowing the score.

[00:48:10] Misleading information on social media.

Today, I sit down with Saish Setty of Parallaxes Capital, an incredible innovative firm that is changing the way we think about tax receivable agreements-- TRAs. Parallaxes provides liquidity to tax receivable agreement ("TRA") stakeholders by monetizing otherwise long-dated assets and anticipate that TRAs will continue to become more common in the coming years while they lead the pack. Saish and I get into the weeds on how his firm provides alpha, what a TRA even is, and what he sees in the future of this asset class.

Great conversation with Saish, enjoy.

Saish Setty joined Parallaxes Capital in 2021 and previously worked at Paul, Weiss, Rifkind, Wharton & Garrison LLP and began his legal career in the Restructuring and Finance department at Wachtell, Lipton, Rosen & Katz.

Saish graduated from Princeton University with a Bachelor of Arts in Economics and from Harvard Law School cum laude with a Juris Doctor (J.D.).

Saish has been featured in Fitch’s LevFin Insights, Reorg Radio, and Forbes. He has spoken at events and conferences including those sponsored by Practicing Law Institute and the CFA Society’s High Yield Bond Master Class.

YouTube Channel: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

[00:02:36] Growing a nascent asset class.

[00:05:14] TRAs in IPOs

[00:10:33] Valuating tax assets and TRAs.

[00:16:34] Creating an asset class.

[00:19:51] Risks of TRAs.

[00:26:43] TRA growth and expansion.

[00:30:05] Master's in tax agreement.

[00:36:14] Modeling after royalties space.

[00:39:00] A liquid asset.

Today we hear from a data scientist turned real estate investor who shares his journey of building a successful investment fund, Neal Bawa of GroCapitus. With over $300 million in investor funds, he explains how his data-driven approach and tax-saving strategies attracted a community of like-minded individuals, including technologists, doctors, and business professionals. From starting out without any investors to now managing close to a billion in assets, this guest's story is truly inspiring. Tune in to learn more about his unique investment strategies and the analytics behind real estate.

About Neal:

Neal Bawa is a technologist who is universally known in real estate circles as the Mad Scientist of Multifamily. Besides being one of the most in-demand speakers in commercial real estate, Neal is a data guru, a process freak, and an outsourcing expert.

Neal treats his $1+ billion-dollar multifamily portfolio as an ongoing experiment in efficiency and optimization. The Mad Scientist lives by two mantras. His first mantra is that: We can only manage what we can measure. His second mantra is that: Data beats gut feel by a million miles. These mantras and a dozen other disruptive beliefs drive profit for his 900+ investors.

YouTube: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

Incredible conversation with Carey Ransom, Managing Director of BankTech Ventures. We get into the weeds of his business, the value proposition of his fund, and some of the pitfalls and triumphs of fund management.

Carey Ransom is an SaaS entrepreneur, executive, investor and advisor, and has started, grown and/or led 8 B2B and consumer SaaS companies during startup and growth phases. He is currently President of Operate and the Managing Director of BankTech Ventures, a newly-launched strategic investment fund focused on compelling technologies for community banks, and founded and funded by leaders in the community bank ecosystem.

[00:02:00] Fully digitally transformed future bank.

[00:06:08] Future of community banking.

[00:11:37] The future state architecture.

[00:14:14] Increasing strategic value for clients.

[00:18:37] Bank tech fund motivation.

[00:24:04] Community banking accelerator program.

[00:28:02] Virtual relationship building.

[00:34:05-00:34:16] Proper capitalization and company viability.

[00:39:14] Value proposition to portfolio companies.

[00:41:32] Introducing banks to each other.

[00:46:08] Things I love and hate.

[00:51:36] Resistance to learning and adapting.

Today we have Bob Elliott on the show, a prolific investment manager, and founder of Unlimited. Bob dives into how he thinks about the markets, strategic investing, the importance of value propositions, and more. Tune in to learn more about how Unlimited has become a thriving asset management empire in the alternative investment landscape.

Bob Elliott is the Co-Founder, CEO, and CIO of Unlimited, which uses machine learning to create low-cost index replications of 2&20 style alternative investments like hedge funds, venture capital and private equity. The first product, $HFND ETF, was the fastest growing independent active ETF launch of 2022. In 2023 Unlimited used its technology to launch its Agile Strategy, which has many of the same desirable features of a multi-manager fund with much lower costs and better liquidity terms.

Prior to founding Unlimited, Bob served on the Investment Committee at Bridgewater Associates where he created investment strategies across equities, fixed income, credit, exchange rates, and commodities, including many used in the flagship Pure Alpha fund. He also built and led Ray Dalio’s investment research team for nearly a decade. He’s the author of hundreds of Bridgewater’s widely read Daily Observations and directly counseled some of the world’s foremost policymakers and institutional investors on economic and investing issues.

YouTube: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

We're talking Tiger Management and Tiger Global Management, two renowned investment firms with different strategies. I explore the challenges faced by Tiger Global Management, including a recent decrease in valuations and the need to notify limited partners of losses. I highlight the importance of effectively allocating funds and discuss the trend of smaller funds outperforming larger ones.

YouTube: https://www.youtube.com/channel/UCPH22AufHvdg8hQvDvT6pPw

[00:12:30] Tiger Management's downfall.

[00:10:56] Too big, too fast.

JC Morales is a seasoned investor and operator in the short-term rental market with a unique interest in the Puerto Rican hospitality game. JC started his career as a kitesurfer but saw the opportunities in beachfront properties.

JC's story is incredible and he gives some amazing insight into how an entrepreneur scales with limited resources.

[00:01:06] Beach apartments and luxury assets.

[00:03:58] The sweet spot of property.

[00:07:09] Making money teaching kitesurfing.

[00:08:39] Creative real estate strategies.

[00:13:12] Short-term rental regulations.

[00:18:16] Incredible returns on short-term rentals.

[00:19:26] Puerto Rico's competitive advantage.

[00:28:03] Tax incentives in Puerto Rico.

[00:29:05] JC's Personal Background.

[00:31:12] Entrepreneurship at a young age.

[00:32:29] Living the new rich.

[00:42:26] Education without implementation is insanity.

[00:43:15] Primary residence and nomadic lifestyle.

In this episode, Lincoln interviews Jeff Mendez, an experienced investor, operator, and board member. They discuss Jeff's background in the direct-to-home space and his passion for real estate investing. Jeff shares his first investment experiences and why he believes real estate is a great investment option. Major takeaway? Build excellent systems. Overall, Jeff shares some incredibly valuable insights on building things that last.

[00:02:29] Investing in real estate.

[00:03:28] Mobile home parks

[00:08:06] Reasons for not liking funds.

[00:10:10] Syndication versus fund structure.

[00:15:21] The current environment affecting business.

[00:18:15] Return metrics in real estate.

[00:22:24] What makes a fund win?

[00:25:21] Being responsive to investors.

[00:29:10] Legal audits and protection.

[00:32:38] The importance of cleanliness.

[00:35:58] VC investment strategies.

[00:38:05] Exhilarating real estate deals.

[00:41:33] Approaching prospective board members.

[00:45:01] Creating value and avoiding pitfalls.

[00:49:43] Value creation over money.

[00:53:12] Work-life harmony.

[00:56:03] Pet peeves in life.

[00:58:24] First generation hustle.

We have a legend on the show today. John Pennington Jr. John shares his insights from starting over 14 businesses to running a dec-billion dollar family of funds. He shares some incredible nuggets of wisdom about finding the right partners, making the right plays in shifting markets, and why funds are the best way to scale in business. We get into the weeds and talk big picture, you don't want to miss this episode.

Learn more about investment funds on our Youtube channel: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

[00:01:03] Starting a hedge fund.

[00:06:19] Transition to fund model.

[00:07:19] Losing investors during transition.

[00:10:13] Predicting the Asian debt crisis.

[00:14:48] Becoming an institutional grade firm.

[00:17:18] Capital raising strategies.

[00:21:12] Pursuing institutional money.

[00:25:37] Starting a business selling jeans.

[00:28:29] The U.S. dollar as a product.

[00:32:21] Going for a supersized idea.

[00:34:00] Starting a big idea.

[00:38:30] Building a strong team.

[00:41:21] Choosing good partners.

[00:45:25] The power of a fund.

[00:47:26] Clawback in partnerships.

[00:53:46] The best place for entrepreneurs.

[00:54:08] Fear of being old and poor.

[00:57:33] Overcoming obstacles and hard work.

[01:01:08] Wasting Opportunities in America.

[01:04:27] Educational purposes and legal advice.

From fleeing Vietnam and China with her family to building a $300M energy trading hedge fund, Nancy Morales is a force to be reckoned with.

Lincoln and Nancy discuss energy trading, coming from remarkable beginnings, what makes a successful fund manager, and the unique perspective she brings to the industry.

[00:01:32] Taking a Risk Together.

[00:04:31] Every trade was do or die.

[00:10:51] Trading electricity markets.

[00:12:03] Leaving Vietnam for a better future.

[00:17:00] Three different countries.

[00:20:25] Female perspective and growth.

[00:24:45] Traders' high earnings and structure.

[00:29:22] Puerto Rico investment ventures.

[00:34:09] Giving back.

[00:36:55] Securities discussed on this podcast.

In this episode of Funds That Won, Lincoln interviews Nic DeAngelo, President of Saint Investment Group. Nick shares the story of how Saint Investment Group started as an acquisition-focused business and later expanded to include asset management and capital raising. With over $200 million in assets under management and a successful track record of exiting projects, Nick discusses the syndication side of their business. He also highlights the shift towards a fixed income approach and the package of real estate assets they have put together. Tune in to learn more about the growth and strategies of Saint Investment Group.

[00:01:17] Syndication and project performance.

[00:06:19] Real estate acquisitions and underwriting.

[00:07:33] Residential mortgage market exploration.

[00:10:51] Non-performing debt in banks.

[00:16:35] Defense against risk-free rate.

[00:19:05] Housing market misconceptions.

[00:23:40] Starting a fund.

[00:26:00] St. Investment Group's future.

[00:30:51] Industrial growth and scalability.

[00:33:08] Finding leverage points and buttons.

[00:38:05] Adding value through networking.

[00:40:13] Getting your foot in the door.

[00:43:00] Balancing work and family.

[00:46:29] Efficient calendar management.

[00:49:37] Communication and teamwork in business.

In this episode of Funds That Won, Lincoln interviews Blake, an Managing Partner at Pelion. Blake shares the elevator pitch for Pelion, a renowned investment fund that focuses on early-stage software companies. With over $2 billion in assets under management, Pelion has experienced tremendous growth over the past two decades. Blake also discusses his journey with the firm. Tune in to learn more about the success story of Pelion and their investment strategies.

Blake Modersitzki is a managing partner at Pelion Venture Partners. He has served on several public and privately held company boards. He was managing director of Novell Ventures and vice president of corporate development for Novell. Blake previously held global sales and marketing positions at WordPerfect. He earned his bachelor's degree in economics from BYU. Blake and Sandy have three children.

[00:01:36] Investment success.

[00:05:01] Decision-making and hiring process.

[00:07:23] Decision-making process and unanimous votes.

[00:12:46] Shared assets among the funds.

[00:16:06] Taking companies to IPO.

[00:19:22] Entrepreneurs changing the world.

[00:24:07] Christmas cards and CEOs.

[00:27:06] Group think and Theranos.

[00:30:46] Fund size and investment strategy.

[00:35:11] Get rich slow.

[00:40:26] Watching movies while exercising.

[00:42:58] Educational purposes and financial advice.

In this episode, we dive into the fascinating journey of KKR, one of the largest private equity firms in the world. Founded in the 1970s by Jerome Kohlberg, Henry Kravis, and George Roberts, KKR has grown to manage an impressive $488 billion across various strategies. We explore their initial strategies, including their pioneering role in the leveraged buyout (LBO). Join us as we uncover the secrets behind their success and how they built their empire from humble beginnings with just $120,000.

[00:02:09] LBO pioneers in private equity.

[00:06:54] The buyout of RJR Nabisco.

[00:09:14] Bidding war for RJR Nabisco.

[00:13:29] Infrastructure assets.

[00:17:57] RJR Nabisco acquisition.

In this episode, Bryce, the co-founder of Summit Global Investments, joins Lincoln to discuss the firm's background and investment strategies. Bryce shares that Summit Global is a registered investment advisory firm managing $2 billion of clients' assets. He mentions working with a team of advisors and various fund structures. The conversation dives into the firm's inception during the market crisis in 2007-2008 and how Bryce and his partner developed their investment approach. Bryce is a member of the Fund Launch Whale Group, a group of fund managers with over $10M AUM. Bruce is an incredible member of the Fund Launch community.

[00:01:03] Starting the company idea.

[00:05:21] The size of fixed income market.

[00:09:07] Clientele base breakdown.

[00:12:05] Fragmentation in investment advisory business.

[00:16:24] Growing independent advisory firms.

[00:20:09] Starting a new firm.

[00:25:48] What makes a fund win?

[00:28:14] Following specific investment rules.

[00:33:20] Starting a public product.

[00:37:22] Growth objectives for Summit Global.

[00:41:10] Focusing on revenue generating items.

[00:45:49] The Fed's next move.

[00:48:05] Follow-up as a pet peeve

In this episode of Funds That Won, Lincoln breaks down the Carlyle Group, a prominent private equity firm with $385 billion under management. We delve into the backgrounds of the three founders - David Rubenstein, William Conway, and Daniel Daniello - who came from diverse industries such as politics, law, venture capital, and finance. Despite the unavoidable headwinds of business, they managed to build a multi-billion dollar investment empire. Tune in to learn more about their strategies and the success of the Carlyle Group.

[00:01:01] Founding of Carlyle Group.

[00:04:28] Private credit opportunities.

[00:09:06] Government contracts and political influence.

[00:11:49] Behavioral alpha in investing.

In this episode of Funds That Won, David Frazier from the Frazier Group shares the story behind their success as a family office turned venture capital fund.. He discusses the challenges faced by angel investors and the importance of keeping track records. David highlights their approach of "shooting fish in a barrel, not throwing darts" as their core mantra for investment strategies.

[00:02:01] Shooting fish in a barrel.

[00:06:23] Fund structure and LP expectations.

[00:09:00] Piling money into a company.

[00:16:38] Valuing companies in secondaries.

[00:20:11] QSBS tax treatment.

[00:23:55] Finding true competitive moats.

[00:27:10] Build relationships with smart people.

[00:32:07] California deals and personal connections.

[00:37:17] The current state of VC market.

[00:40:05] The promise of AI.

[00:44:09] Real estate investment committee.

[00:48:29] Excessive posturing in business.

[00:52:22] Fund Launch Partners appreciation.

In this episode, we are flipping the script. My long-time friend and colleague, Bridger Pennington interviews me about Fund Launch Partners, a GP stakes fund launched just this month. We get into the nitty gritty of this kind of fund, our investment thesis and what I see in the future.

[00:00:58] GP stakes Fund Launch Partners.

[00:03:22] The Greenwich Economic Forum.

[00:08:03] Emerging managers and outlandish returns.

[00:10:46] Betting on the jockey.

[00:13:09] GP stakes industry.

[00:18:59] Returns for limited partners.

[00:21:15] GP stakes fund explanation.

[00:25:10] Long-term partnership with portfolio funds.

[00:28:16] Emerging managers in turbulent times.

[00:30:55] Partnering with FunLaunch and beyond.

[00:34:20] Favorite business book.

[00:39:29] GP stakes fund expansion.

[00:42:06] Growing up and empathy.

[00:46:17] Life's suitcase and its contents.

[00:48:07] Be intentional about your suitcase.

In this episode of Funds That Won, Lincoln dives into the success story of Ken Griffin and his hedge fund Citadel. With $67 billion in assets under management and $16 billion in net income last year, Citadel has become one of the giants in the hedge fund industry. We explore how Ken started trading in college and discovered a successful convertible bond trading strategy that propelled his success. Tune in to learn more about Citadel's products, strategies, and how they ultimately became winners in the hedge fund game.

Don't forget to rate and review!

[00:01:37] The convertible bond trading strategy.

[00:04:12] Citadel's near bankruptcy.

[00:08:09] Ken's robust empire and strategies.

[00:11:15] Phone carrier example.

In this episode of Funds That Won, Lincoln interviews the co-founder of JNR Capital, a successful investment firm specializing in buying distressed and value-add hotels. With a track record of completing $200 million in transactions, JNR Capital leverages deep-rooted relationships with industry executives, local lenders, banks, and general contractors to transform hotels into highly profitable establishments with renowned brands like Marriott, Hilton, and Best Western. Jignesh discusses the dynamics of running a family business. Tune in to gain insights into the strategies, structures, and best practices employed by JNR Capital in the alternative investment landscape.

Learn more on our YouTube and don't forget to rate and review!

https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

[00:02:04] Going into business with family.

[00:04:12] Succession planning and growth.

[00:10:32] Hotels as a cyclical business.

[00:12:15] Hotels as a combination of real estate and operations.

[00:18:41] Franchised mid-scale to upscale hotels.

[00:21:08] The impact of Airbnb.

[00:24:44] Dealing with challenging guests.

[00:29:15] Lower interest rates in hospitality.

[00:33:00] Loyalty Programs in Franchises.

[00:34:17] Capital improvements and franchise requirements.

[00:38:47] Raising money in hospitality.

[00:42:15] In-house vs outsourced services.

[00:47:29] Future objectives and growth.

[00:49:01] Investing in different asset classes.

[00:53:04] Aligning goals for personal success.

[00:57:19] Having the grit to succeed.

In this episode of Funds That Won, we dive into the world of private equity with Krystof Bartos of Guardians of Legacy Private Equity, who shares his insights on buying businesses, managing them, and starting a private equity firm. He discusses his strategy for raising capital and where private equity fits into a portfolio. Krystof's success is attributed to his proof of concept with his own money and his confidence in what he knows while remaining humble about what he doesn't. Tune in to learn more about the world of private equity and the strategies behind building a successful investment fund.

[00:00:56] Proof of Concept and Success.

[00:07:11] Purchasing businesses with creative financing.

[00:09:38] Small business acquisition strategy.

[00:12:00] Taking care of legacy.

[00:16:57] Uncorrelated investments and diversification.

[00:19:09] Retirement and small business ownership.

[00:24:10] Add value and business karma.

[00:27:58] LinkedIn as the best place.

In this episode, we dive into the life and career of Bill Ackman, a prominent figure in finance. From his early days starting his hedge fund with $250,000 to managing billions of dollars, Ackman's journey is filled with ups and downs. We explore his investment strategies, including his focus on value investing and his ability to identify companies trading below their intrinsic value. Join us as we discuss Ackman's notable deals and his presence in both the financial and political spheres.

In this episode, Lincoln discusses Fundrise, a real estate crowdfunding platform in a throwback to 2022. He talks Fundrise and its history, explaining that it was originally targeted towards accredited investors but now allows anyone to invest for as little as $10. Overall, the episode explores the concept of real estate crowdfunding and the potential benefits it offers.

[00:01:23] Fundrise crowdfunding explained.

[00:03:09] REITs and high dividends.

[00:06:09] Real estate digitization and integration.

In this episode of Funds That Won, Lincoln interviews Dustin Gomez from the Geauxmez Group. Dustin shares his journey from corporate leadership to real estate investing. Dustin is a member of the Fund Launch community! He is a member of the Black Card program, where we help emerging managers launch and scale their funds. He discusses how he started investing in real estate, initially converting his first home into a rental property. Over time, he saw the benefits of this investment and continued to buy more properties. Tune in to learn from Dustin's experiences and insights in the world of real estate investing.

[00:01:24] Real estate investment journey.

[00:06:30] Scaling up in real estate.

[00:08:36] Roles in property management.

[00:11:33] Long-term buy and hold strategy.

[00:16:30] Understanding insurance policies.

[00:22:14] Tokenization of assets.

[00:23:15] Crypto tokenization.

[00:29:28] Wake up early and read.

[00:31:23] Building schools and libraries.

More on Funds that won: www.fundlaunch.com/fundsthatwon

Visit our YouTube for more on investment funds: https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

You can join our discord community this week! It is typically closed but we are opening for ONE HOUR this Thursday. Join the waitlist here: https://www.fundlaunch.com/wsr-launch--47111?sl=cf2homepage?sl=linktree

In this episode of Funds That Won, we learn about Axia Partners, a real estate fund that focuses on mitigating risk for its investors. Lincoln interviews Dave Allred of Axia Partners, who shares his journey from doing syndications to investing in real estate funds. He emphasizes the importance of building a strong reputation and protecting investor capital. Axia Partners, which launched two and a half years ago, has successfully maintained a track record of never losing a dollar in investor capital. Tune in to learn more about their mission and core values.

[00:02:02] Mitigating downside risk.

[00:03:31] True diversification and benefits.

[00:07:08] Syndication vs. Fund Model

[00:12:27] Velocity of money and 1031 exchange.

[00:13:19] Real estate tax strategies.

[00:17:06] Tying purpose to financial goals.

[00:20:14] SPVs and investment diversification.

[00:24:09] Creating value and impact.

[00:27:40] Scaling and building something special.

[00:32:03] Full ownership of the process.

[00:34:08] Experiential investing.

[00:38:30] Creating modern value add.

[00:41:28] Transparency in investment firms.

[00:43:33] Learning from industry experts.

[00:47:18] Heavy value add and distributions.

[00:51:23] An interesting time.

[00:53:13] Thinking bigger in real estate.

[00:56:34] Running with the bulls.

[00:59:01] Educational purposes and legal advice.

Lincoln emphasizes the Ray Dalio's belief of the importance of principles and stress testing them to improve decision-making and increase the likelihood of success. He believes that by clearly defining principles and subjecting them to rigorous testing, individuals can enhance their ability to make informed decisions and achieve positive outcomes.

Dalio's approach involves meticulous documentation of trends and patterns, which are then analyzed using algorithms to understand cause-effect relationships. By studying numerous cases and identifying the underlying principles behind how things work, one can develop a set of principles for effective decision-making. This systematic approach provides a better understanding of probabilities and significantly improves the chances of success.

Furthermore, Dalio's emphasis on principles extends beyond investing and applies to all aspects of life. His book on principles serves as a comprehensive guide for navigating various challenges. By applying a principles-based approach to decision-making in all areas of life, individuals can enhance their decision-making skills and increase the likelihood of achieving desired outcomes.

Overall, the episode highlights the significance of explicitly defining principles and subjecting them to stress testing. This approach leads to improved decision-making and a higher probability of success, both in investing and in life.

Learn more about investment funds and how to become a fund manager at:

https://www.youtube.com/channel/UC1_NBRSd-yIX6tyg31RzCew

[00:02:09]

Ray Dalio's content creation.

[00:06:38]

Making principles.

[00:07:05]

Systematizing investment decisions.

[00:11:50]

Starting funds long term.

[00:14:09]

Adding principles to decision-making.

In this episode of Funds That Won, we explore the inception story and investment approach of Maddix Capital, a unique and novel investment fund. Jake Gubler. Jake is well-versed in M&A, private / public capital raises, and corporate advisory. Before joining Maddix, Jake was the Manager of Corporate Development at Owlet (NYSE: OWLT), where he led M&A, partnership, and strategic analyses and execution efforts. Before Owlet, Jake spent time as an investment banker at Bank of America and Wells Fargo and as an analyst at Peterson Partners, a lower-middle market private equity fund. Jake has executed ~$10 billion of cumulative M&A and equity / debt transactions throughout his career, primarily across the technology and consumer / retail industries.

[00:02:28]

CRM tech platform stack.

[00:03:40]

Negative experience with leverage buyout.

[00:07:52]

Expanding opportunities beyond boxes.

[00:11:49]

Our flexible fund mandate.

[00:16:13]

The hold period and extensions.

[00:18:09] How he got his start.

[00:21:04]

Middle market investment banking.

[00:25:13]

Utilizing debt in acquisitions.

[00:27:30]

Acquiring human capital needs.

[00:31:41] Use of proceeds.

[00:34:00]

Advisors and their role.

[00:37:14]

Sourcing and deal flow.

[00:41:28]

Multi product and strategy.

[00:44:11]

Fund economics and target raise amount.

[00:47:18]

Analytics on market trends.

[00:51:05]

Stage zero and investment process.

[00:56:42]

Business investment pet peeves.

[00:59:23]

Outdoor activities with family.

In this episode of "Funds That Won," host interviews Koloa Wolfgramm of Wolfgramm Capital, a renowned investment fund. Koloa shares his background as a former bobsledder on the USA team and his transition into finance. He discusses his firm's success and the importance of one key person in driving profits. Listeners will gain insights into alternative investment strategies and the inner workings of asset management empires. Stay tuned to learn more about Koloa's approach to investing and his experiences in the investing landscape.

[00:01:58]

Bobsledding to venture capital.

[00:03:09]

Playing on both sides.

[00:07:11]

Life advice from Koloa.

[00:09:24]

Smaller deals and institutional shops.

[00:13:18]

Shifting mindset for raising capital.

[00:16:00]

Strategic acquisitions and growth.

[00:19:33]

Vetting key level executives.

[00:22:37]

Making final hiring decisions.

[00:24:12]

Importance of team selection.

DISCLAIMER:

All information shared are the sole thoughts and opinions of the author. Do not take any information as legal or financial advice. You should seek a certified accountant and a professional legal team for taking any further action. We are not selling or soliciting a security in any way, shape or form. This content is for educational purposes only and is not to be construed as financial or legal advice. Clients of Fund launch or Black Card Capital Partners may maintain positions and securities discussed on this podcast.

In this episode, we interview Rob Fuller, the founder of ROI Property, who has managed hundreds of millions of dollars in real estate investments. We discuss his initial strategy of fix and flip, how he built his teams, and his fundraising strategies. Rob shares insights on real estate development, working with subcontractors, and managing properties remotely. Tune in to learn from Rob's wealth of knowledge and experience in the industry.

[00:02:23]

Leveraging and managing OPM.

[00:04:10]

Build to rent projects.

[00:08:49]

Raising money and control.

[00:10:49]

Increasing land value through rezoning.

[00:15:32]

Typical loan term length.

[00:18:33]

Built to rent vs build to sell.

[00:24:40]

Compensating and incentivizing key employees.

[00:25:35]

Shortcutting tasks and time.

[00:29:03]

Disclosing investments and risks.

[00:34:03]

Dealing with liquidity issues.

[00:37:57]

Having a plan for an exit.

[00:39:23]

Communication and acronyms.

DISCLAIMER:

All information shared are the sole thoughts and opinions of the author. Do not take any information as legal or financial advice. You should seek a certified accountant and a professional legal team for taking any further action. We are not selling or soliciting a security in any way, shape or form. This content is for educational purposes only and is not to be construed as financial or legal advice. Clients of Fund launch or Black Card Capital Partners may maintain positions and securities discussed on this podcast.

In this episode of Funds That Won, we explore the financial powerhouse BlackRock and its business model. With over $9 trillion in assets, BlackRock's influence is vast, owning 5% or more of 97% of companies in the S&P 500. We learn about the company's origins, its focus on ETFs and mutual funds, and how it operates in the public markets. Tune in to discover more about this influential investment firm.

[00:03:04]

BlackRock's influence in companies.

[00:04:05]

BlackRock's political influence.

[00:06:29]

ESG and BlackRock's Influence.

[00:10:03]

Educational financial and legal advice.

DISCLAIMER:

All information shared are the sole thoughts and opinions of the author. Do not take any information as legal or financial advice. You should seek a certified accountant and a professional legal team for taking any further action. We are not selling or soliciting a security in any way, shape or form. This content is for educational purposes only and is not to be construed as financial or legal advice. Clients of Fund launch or Black Card Capital Partners may maintain positions and securities discussed on this podcast.

There are big opportunities to make money in crypto right now.

In this episode of Funds That Won, Lincoln and guest Bridger Pennington discuss fund structures, strategies, and the journey of fund development. Bridger, Managing Partner of Ugly Unicorn Crypto Fund and co-founder of Fund Launch, shares his experiences and success in the investment fund industry. He talks about his three investment funds, including a hedge fund in the cryptocurrency space, and his partnership on multiple funds with the host. Tune in to learn from Bridger's expertise and insights in building million and billion dollar asset management empires.Follow Bridger on Instagram @bridger_pennington

[00:01:49]

Why crypto, man?

[00:04:09]

Selling a fund.

[00:06:59]

Exploring different investment strategies.

[00:08:27]

A sexy business model.

[00:12:06]

An emerging space in crypto.

[00:14:05]

Starting a billion dollar fund.

[00:18:24]

Mitigating risk in volatile markets.

[00:19:13]

Risk mitigation strategies.

[00:22:43]

Moonshot positions and research.

[00:25:29]

Scaling the firm over five years.

[00:27:28]

Education gap in blockchain.

[00:30:27]

Crypto banking crisis and FTX.

[00:34:00]

Playing infinite games in business.

[00:35:47]

Playing the infinite game.

[00:40:07]

Business pet peeves.

[00:41:45]

Be decisive on this decision.

DISCLAIMER:

All information shared are the sole thoughts and opinions of the author. Do not take any information as legal or financial advice. You should seek a certified accountant and a professional legal team for taking any further action. We are not selling or soliciting a security in any way, shape or form. This content is for educational purposes only and is not to be construed as financial or legal advice. Clients of Fund launch or Black Card Capital Partners may maintain positions and securities discussed on this podcast.

Welcome to Funds that Won. Where we deep dive into some of the world's most renowned investment funds. We’ll interview investment managers across the alternatives landscape and learn how they built their million and billion dollar asset management empires.We deep dive into teams, structures, portfolio management, investment philosophy & best practices in launching and running alternative investment funds.

This is the ultimate fund managers podcast.

ABOUT LINCOLN ARCHIBALD

Lincoln helps entrepreneurs & investors start funds. Lincoln is Chief Financial Officer of Fund Launch and Managing Partner of Black Card Capital Partners

He is an expert in alternative assets and works in real estate, private equity, venture capital, and hedge funds

Lincoln has consulted on more than $2 Billion AUM

Instagram: https://www.instagram.com/lincolnarchibald

For more information on how to launch and scale your own investment fund, visit www.fundlaunch.com

DISCLAIMER: Lincoln's and Fund Launch's experiences with using a fund strategy is unique to them. You should not consume this content with the expectation that you will have similar or the same results. All fund projects are subject to multiple variables and risks that make it impossible to predict success. Because we cannot predict success or provide you with information on what an average customer experience is by creating a fund, you should assume you will not have the same type of success or any success at all. We encourage you to seek out advice from other qualified professionals for advice on setting up your particular fund.