Raising your first fund?
Most LPs won't touch a Fund I. These 12 do:
1.
@CendanaCapital: Cendana. The reference LP for first funds, $2.5B+ across 70+ managers. Now also runs Cendana Nano for funds under $15M.
2.
@screendoorvc: Screendoor. Exists for exactly one purpose: anchoring new managers raising their first institutional fund.
3.
@IndustryVC: Industry Ventures. Backs first-time funds, often as the only institutional LP on the docs. 90+ emerging managers, and ~40% of their new $900M fund is earmarked for managers running under $250M.
4.
@close_first: First Close Partners. The name is the whole thesis: they anchor first-time managers at first close. 100+ fund commitments so far.
5.
@RecastCapital: Recast. Fund I through III, US emerging managers, plus an enablement program for women-led funds.
6.
@lo_toney: Plexo Capital. 53 LP commitments and a program (GPX) built specifically for brand-new GPs.
7.
@Beezer232: Beezer Clarkson. The most public emerging-manager advocate in the LP world, now at LGT Capital Partners.
8.
@cdouvos: Chris Douvos. The SuperLP. Backs the managers everyone else passes on, and writes about it honestly.
9.
@Samirkaji: Samir Kaji. Allocate talks to 300-400 emerging managers a year. Twenty years of backing first-timers.
10.
@isomercapital: Isomer Capital. Europe's Fund I specialist. Backed Seedcamp, Hoxton and Entrepreneur First on day one, new €250M fund in the works.
11.
@TrueBridgeCP: TrueBridge. Runs a dedicated vehicle just for managers raising under $200M.
12.
@FairviewCapital: Fairview. Three decades of emerging-manager investing, and they just activated $150M of pension money for exactly this.
Save this for the raise.
And if you're an LP who belongs here, say so below.