Kristen Rooney

@elonmusk please invent an AI robot that can put a paci back in a baby’s mouth in the middle of the night and maybe we’ll solve our populations problems #grokfortiredmoms

VC industry is not broken. It’s perfectly fine. It just evolved - more global, more competition, quicker cycles, very big private generational companies, no longer a small tertiary asset class, Sovereign-like big Tech, and foundational to every country’s future. And incredible new emerging talent in the VC space. Anticipate and move.

I’m hearing that stroller companies raised prices quite a bit and moms are pissed. This might be the force that saves us all.

When your return math relies on rewriting IPO history… maybe it’s time to rethink the model.

LPs are writing bigger checks to fewer managers. DPI is king. Small funds are outperforming. Bridges are up, down rounds are common, and exits are slow. Discipline is in — and great funds will shine. Great report @PeterJ_Walker carta.com/data/vc-fund-p…

@MeghanKReynolds Some institutional LPs we speak with seem more focused on access to co-invest earlier, i.e. tired of paying nosebleed valuations for Series B and beyond, and want more exposure to seed/series A co-invest at significantly reduced fees. Inherently increased risk with this dynamic.

Heard from LPs this week: SPV Mania. A long post 👇🏻 The scale of direct deals being offered to banks for HNW investors is 🤯🤯 Spoke to 3 banks over the last month - all have been offered well over 100 deals in the first 10 weeks of the year. 😳 This is every sizable deal across PE, RE, Infra, VC, Growth. It’s every sizable asset with a few notable exceptions. They are offered sketchy stuff like double and triple layered SPVs 😳 but it’s mainly super high quality direct flow from household name GPs - most who aren’t offering funds on these platforms. The banks are highly selective (some have done <5% of what’s offered). They have their pick. Some people think the GPs are doing this to offload risk. I think it’s largely because GPs are short on capital in their main funds relative to their access/size of deals (no DPI will do that) Some think it’s so GPs can score better economics on co-invest. It’s not - the fees are 0/0 for PE and VC/Growth varies. Plus the banks get paid to do it by GPs - clients don’t eat the fees for the most part. So if I’m a HNW investor, do I invest in funds at all, when I can get my pick of direct deals at better than fund economics from my wealth advisor? Maybe I take a barbell approach - Evergreen vehicles for Private Mkts with liquidity whenever I want it + a handful of direct deals from the best known GPs. Just as we thought 2/20 fund structures were going to launch to the retail/HMW channel en masse, will they become unnecessary to a large portion of the channel? What about institutional investors? They seem happy with the regular fund model with select coinvest… What about the companies? Do they care about the underlying capital of the gps? Is being offered on a wealth platform a concern? Or a positive to be a household name if/when you IPO? Is this a permanent industry fixture or an SPV bubble that will inevitably pop? Or perhaps a combination - directs through banks are here to stay but will go down to normal levels when exits come (yay for M&A) and institutional fundraising is moving freely again…

@MeghanKReynolds This is why having a solid base of LPs with deep, long-term relationships matters—exactly what you preach!

@K10dins I actually don’t think that first close discounts really move the needle that much. I think this more has to do with about half of the capital reupping and then it being really hard to get momentum from net new LPs …

@MeghanKReynolds Curious if you see fees playing a role here—an incentive for LPs to commit earlier and in larger size? Feels like momentum begets momentum in this business...

@MeghanKReynolds @FinancialTimes Tough fundraising environment, but no surprise credit & infra are holding up—investors want stability. Are we near a bottom or is there more pain ahead? Likely depends on whether distributions pick up in 2025 🙏

Interesting fundraising snapshot in the ⁦@FinancialTimes⁩ today Only credit and infra flows increased flat/up last year across all of private assets

Top of the wish list for anyone in sales / client management! Counting down the days until something like this becomes reality... 🚀 @iconnections_io @altcap

@thirdprimevc @everstarai Congratulations to @kevinkong91 and the Everstar team – we’re excited to support their mission to accelerate energy abundance. The future of nuclear is here. hashtag#earlystageinvesting hashtag#venturecapital

We are thrilled to announce that Third Prime led the pre-seed in @everstarai, a company at the forefront of AI-powered compliance for nuclear energy. prnewswire.com/news-releases/…

So the thing about having kids that I feel like no one says because it seems obvious, but before you have them it really isn’t: You have to be home by 6pm pretty much every night. Like not most nights. Every night. Imagine a 6pm curfew for the next 10 years. That’s little kids.

@thirdprimevc We look forward to playing a pivotal role as Nashville continues to climb the rankings!

Great insights and good company today in #Nashville at Third Prime’s annual meeting. Now as they say, time for some “sunshine and whiskey!”

@SWERVE_Fitness still sweating two hours later...500 hundred club today! @DYANgetfierce

Need to find out the name of the no diggity remix! swerve-stats.herokuapp.com/stats/538d05fa… @swerve_fitness

Done better but we'll blame it on the Mondays....#swerveon @SWERVE_Fitness swerve-stats.herokuapp.com/stats/5371561e…

@SWERVE_Fitness #lastchanceworkout #bathingsuitreadyISH #dougied swerve-stats.herokuapp.com/stats/534c6bee…

Check out my STATS from SWERVE Fitness!swerve-stats.herokuapp.com/stats/5339f7be… @swerve_fitness

I forget, is Columbus the one who slept with Pocahontas or Sacajawea?