What factors drive strong returns in private-market investing?

David Weisburd

Co-Founder · Weisburd Pierce

Network and Process

David Weisburd says the key is the likelihood that a manager's network and process will lead them to find outstanding companies, emphasizing how meaningful and current that network is.

The answer starts at 44:05.

Kevin Jiang

Founder, CEO · Mangusta Capital

Diversification and Guidance

Kevin Jiang says the two factors that come to mind are diversification, building a proper portfolio allocation strategy, and having a shepherd to guide you through the ecosystem, since it is not simple.

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Rajeev Mantri

Founder / Managing Director · Navam Capital

Mispriced Assets

Rajeev Mantri says venture funds can deliver high IRRs because they play in an illiquid market where assets are mispriced, letting them find mispriced deals and great value buys.

The answer starts at 22:13.

Adam Gelhausen

Managing Partner · Palindrome Llp

Operational Execution

Adam Gelhausen says operational execution is what sets his firm apart from being just a private equity firm, arguing that rigor in making a company operate well is what makes the difference in growth.

Ryan Nece

Board Member · National Venture Capital Association

Elite Managers

Ryan Nece says a small number of elite managers have generated the alpha everyone is looking for, comparing it to the power law and the rarity of professional athletes.

The answer starts at 29:59.

Brian Singerman

Partner · Founders Fund

Elite Managers

Brian Singerman says it's really important to invest in the most elite emerging managers, because you can scale with them and returns at the top end can exceed others since fund sizes are small.

Max Kilberg

Investment Partner · Village Global

Team, Vision, Belief

Max Kilberg says that in venture investing it ultimately comes down to the team, the vision and the belief that a company can graduate into a fast-moving, hyperscaling company.

Sunil Dhaliwal

Founder and General Partner · Amplify Partners

Durable Revenue & Margins

Sunil Dhaliwal says durable revenue contribution margin consistency and value delivered to a customer are "everything," though he frames this as what holds if current growth rates prove less shiny than they appear.