Max Pog

Join for free: a virtual conf with 1000+ LPs, Family Offices, Funds of Funds, & GPs of VC, PE, RE, & Hedge Funds – Nov 26 on Zoom. $100M+ & $1B+ Single FOs, LPs, FoFs & other investment firms have confirmed their participation. Like & reply "+" to get the invite in DM (we're at 1200+ regs now). Our previous event attracted attendees with a combined AUM of $1.6 trillion, including: 270 Single Family Offices, 90 Multi Family Offices, 180 Funds of Funds, 300 LPs, 570 angels, & hundreds of GPs. For the first time, we're adding a virtual Private Networking Lounge with LPs, FoFs & FOs in addition to speakers' Zoom panels & presentations (US, EU, & UAE): 1) $1B+ Family Office panel: In what and how are we investing? RE, PE, VC & other alternatives – Shubhra Jain @ Tarsadia SFO ($2B); Neetu Puranikmath @ Cooper Family Office. 2) 2x+ DPI Club: How to return your LPs more than expected? – Justin Stebbins @ Northgate Capital ($5B); Douglas Mellinger @ Clarion Capital Partners ($1.8B) 3) Family Office Trends 2025 – Uli Maybach @ Maybach Foundation; Christian D Evans @ Pax Fortis Multi-Family Office. Moderated by Valerie Bertele @ Yellow Rocks. 4) 1st-generation UHNWI strategies: 1. Launch a SFO, or 2. Join a Multi-Family Office, or 3. Other ways to preserve & grow capital? – Shane Neman @ SFO / Neman Ventures; Lisa Morris @ AKS Single Family Office. 5) How to Grow AUM of a Fund in 2025: Best Fundraising Practices for PE, VC, RE, & Hedge Funds – David Butler @ Argosy Real Estate Partners ($3.6B); Jaclyn Baumgarten @ IDC Ventures ($650M AUM, IDC Network $2.5B); Ed H. @ Arena LP ($3.4B). 6) Why FoFs exist, and why LPs accept double-layer fees? – Chuck Tedeschi @ Top Tier Capital Partners ($8B); Scott Sherman @ Mesa Lane Capital Partners. 7) How to harness AI for sourcing, evaluation, and reporting? – Logan Allin @ Fin Capital. 8) How Governments Can Attract Capital, Innovations & Talent by Focusing on Venture Studios? – Preslav Panayotov @ VentureWaves Innovation Network 9) State of Venture Q3 2024 – Benjamin Lawrence @ CB Insights. 10) $2T growing Private Credit Market & what it means for Private Credit Secondaries – Brett Hickey @ StarMountain Capital ($4B+). 11) Collaboration between Family Offices, Venture Studios, VC Funds, & Corporations – Ahmed Nasser Al Nowais @ Annex Investments; Daniela Plattner @ Palm Venture Studios; Marc Wesselink @ venturerock. 12) What do our private banking clients want to invest in? Our portfolio construction – Orley J. Pacheco @ Wells Fargo ($2T) @margauxmaccoll @ @TechCrunch, @SaacksAttack @ @BusinessInsider, Abby Schultz @ @barronsonline, @theMetz will moderate some of the panels More speakers/moderators on the website.

Here you can join for free 100+ LPs/GPs at the Family Office/Fund of Funds VC Virtual Conf on Dec 11: – 25+ Zoom networking rooms with FOs/FoFs/LPs/VCs – main Zoom stage (also streamed on LinkedIn) with content: 1. LP & direct: How family offices & funds of funds co-invest with VCs to access better deals and economics. Siddique Haq @ Top Tier Capital Partners (FoF) ($7.9B AUM) 2. How LPs & FoFs conduct due diligence on VC GPs to select the top 1%. Alan Mattamana @ Fairview Capital (FoF) ($10.8B AUM), John McArthur, @ Krilogy ($4.5B AUM), Aurelia Flores @ Virginia Venture Partners (FoF) ($5M-15M LP checks), Brian Bell @ Team Ignite Ventures 3. Why accessing VC via a GP-Stakes model beats traditional FoF and passive LP models: lessons from seeding 40+ emerging managers. Scott Sherman @ Mesa Lane Capital Partners (FoF) ($20M LP checks) 4. Our FoF analyzed 1,000+ VC fund decks in 2025: top red & green flags LPs & GPs should pay attention to. Apurva Mehta @ Summit Peak Investments (FoF) ($845M AUM) 5. Why we're bullish on first-time VC Fund managers? Jamie Rhode, @ Screendoor (FoF) 6. What does fundraising for a VC FoF look like? Pitching to LPs when you're an LP. Christopher Johnson @ Knightsbridge Advisers (FoF) ($2.9B AUM) 7. Invest in AI or use AI to invest? How LPs get exposure to AI companies & tools. Mike Blogna @ Trusted Human Capital 8. Operations that attract capital: how our FO evaluates startups and VCs. Ivan Egorov, @ ALGARA (MFO) 👉 Like & comment to get a registration link. I’ll DM you. More speakers and VIP guests are in the comments

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Insights about diversified vs concentrated portfolios for LPs/GPs of pre-seed/seed funds from @stefanobernardi – great analysis and table! Most LPs push for concentration (15-20 companies + follow-ons). But the math/logic of diversification may be more attractive for early-stage funds. 1. FoF concentration logic may be backwards. 10-15 concentrated funds of 15-20 companies = 150-300 total exposure. If the vintage winner isn't there, the entire FoF underperforms. Diversified funds (50-70 companies each) = 500-700 exposure. At pre-seed, several funds with 2-4% at $5-10M valuations might beat one fund with 15% at $20M. Don't optimize for look-through ownership – optimize for "don't miss the winner." 2. "Reason to win" is the most ignored variable. Concentrated: "Need to be chosen as lead, show ability to win." Diversified: "Friendly, fast, well-loved by co-investors." One requires winning 20+ competitive battles. Other requires being helpful capital. Which can you actually deliver? 3. Ownership is a result, not an input. Stop designing around the target %. Start with: what check sizes can you win, what valuations can you access, what's your reason to win. Ownership falls out of these. 4. The market won't supply 20 in-thesis companies. Even if you see great deals and could win them, the market might not produce 20 quality companies in your thesis during 2-3 years. Plus bandwidth to service them. 5. Follow-on reserves have hidden costs. $70M with 50% reserves vs $35M no reserves: 2x fundraising effort, predict winners early, win allocation, avoid squeeze-outs. Still only drops exit from $21.5B to $15B. 6. Solo GP bandwidth breaks by Fund III if leads 20 rounds in Fund I. By Fund III: servicing Fund I + Fund II portfolios + new investments. Diversified strategy – "essentially infinite capacity." 7. Entry valuation access matters. $1.5M checks → $20M rounds. $250K checks → $4-10M rounds. Multiple small positions at low valuations often beat one large position at a high valuation. 8. Top investors won by volume, not hit rate. They got there by the number of shots, not prediction accuracy. Even best can't consistently predict which pre-seed becomes $10B+ outcome. 9. Best seed funds were highly diversified. Lowercase I: ~80 investments. First Round: 20-25/year. SV Angel: hundreds. Power laws reward surface area, not magic.

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