Couverture de VC10X - From Zero to Fund One: Lessons from 1st time fund manager

VC10X - From Zero to Fund One: Lessons from 1st time fund manager

VC10X - From Zero to Fund One: Lessons from 1st time fund manager

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 In this episode, Kevin Moore shares the unfiltered story behind starting his first VC fund after nearly 15 years of preparation—from leaving a stable engineering career, to learning sales the hard way, to discovering why LPs don’t care about your past track record the way you think they do.⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.comWe go deep into:- Why there is never a “right time” to start a fund- The biggest misconceptions first-time GPs have about LP fundraising- Why selling is at least 50% of a VC’s job- The hidden costs (financial and emotional) of becoming a fund manager- How to think about fund size, LP targeting, and early credibility- What separates aspirational GPs from those who actually close Fund I- Kevin also opens up about doubt, discipline, faith, and the internal routines that helped him stay grounded through long stretches of uncertainty.If you’re:Considering launching your first fundExploring a transition into venture capitalCurious how LPs actually evaluate emerging managersOr simply want an honest look at what VC really looks like behind the scenesThis episode is for you.Timestamps:(00:00) - Preview(00:45) - Introduction to the episode and guest, Kevin Moore(01:35) - Sponsor Read: Podcast10X(02:16) - Kevin's 16-year journey to starting a VC firm(02:53) - The origin story: From civil engineer to financial advisor(04:45) - The "never a right time" philosophy for making big leaps(05:03) - Key lessons learned from being a financial advisor(05:25) - Why sales skills are crucial for a General Partner (GP)(06:29) - Why choose venture capital over other finance paths?(08:15) - The first order of business when starting a VC firm(08:28) - The challenge of securing working capital and startup costs(10:06) - Balancing GP commitment and operational expenses(10:47) - How to de-risk a fund launch by pre-vetting LPs(12:40) - How to right-size your first fund(13:57) - Identifying and targeting the ideal LP profile(15:48) - The biggest misconception about LP fundraising(17:57) - What to do differently in the first 10 LP conversations(19:19) - How to pace conversations with LPs(20:00) - The "Know, Like, Trust" framework for LP relationships(22:14) - The most valuable "No" from an LP(25:42) - Designing the fund's identity and investment focus(27:44) - The most underestimated part of building a firm(29:12) - The first non-obvious hires and processes needed(30:52) - Overcoming serious doubts during fundraising(32:24) - Using daily routines to manage external uncertainty(33:54) - The most overrated advice for starting a VC firm(36:24) - The one thing to pressure test before quitting your job to start a fund(37:55) - Rapid Fire Round: Serac Ventures' Investment StrategyConnect with Kevin:https://www.linkedin.com/in/kevinjosephmoore/https://substack.com/@kevinatseracvcPodcast Links:Prashant Choubey - https://www.linkedin.com/in/choubeysahabSubscribe to VC10X newsletter - https://vc10x.beehiiv.comSubscribe on YouTube - https://youtube.com/@VC10X Subscribe on Apple Podcasts - https://podcasts.apple.com/us/podcast/vc10x-investing-venture-capital-asset-management-private/id1632806986Subscribe on Spotify - https://open.spotify.com/show/7F7KEhXNhTx1bKTBFgzv3k?si=WgQ4ozMiQJ-6nowj6wBgqQVC10X website - https://vc10x.comFor sponsorship queries, reach out to prashantchoubey3@gmail.com
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