Someone I know has launched a smallVCfund, they're on their second fund now and looking at EDGAR have raised ~8MM in aggregate. I read the article on "This Is Going To Be Big" about smallVC经济学。但老实说，我仍然不知道有人如何过上体面的生活。
即使假设2.5％/20％的结构仅在管理费用上只有200k。大多数费用之后，他们将其带回家100k，尤其是考虑到超过2个资金。我发现整个想法令人着迷，但是除非您筹集了许多资金，否则看不到它可以赚钱的方法。
看来进入障碍大大低于传统VCespecially if you're acting more like an angel. Is the traditional entry point to be an individual angel for a few years then transition to founding a firm and launching an initial fund and then trying to repeat on a regular cadence until you're a few years in and start to have exits?
Comments (9)
Bump
I'm curious how much is people who have had successful exits investing their own capital and raising some money on the side.
但是，如果它是外部资本，那么您纯粹依靠这样的想法，即这些种子检查将其击中公园。我从事的公司进行了一项种子投资，然后是一家独角兽，所以随身携带它非常漂亮。如果您在寂寞的家中经营一家商店，那看起来还不错。虽然反点是，如果您认为您实际上可以获得这类交易，但很奇怪，您只筹集了约800万
这是他们拥有财务背景的有趣的事情，而不是成功退出的企业家。该基金是一个思考地理/人口统计重点。我的怀疑是，他们可能正在写相对较小的支票，尤其是如果他们要为以后的回合留钱。
My assumption is that they are trying to be entrepreneurial themselves, I imagine at ~20MM in AUM you can probably draw a 200k salary plus carry once you're a few years in, which while not amazing byWSOstandards is still a decent living and the carry is a huge bonus. It's honestly pretty appealing to me.
根据您的位置和股东结构，您也可以出售Pro Rata零件通过SPV. I think that's what OurCrowd in Israel does (there are others too).
You are correct, the economics suck in most cases and the majority of the EMs running them are not impressive or qualified. Many buoyed by the current market. From an EM in a micro fund I would want to seeIRR40% +如果只是废话标记并不是真实的ized exits. When I went shopping for EMs a few months ago, many were far under that even just going off markups.
There are some legit EMs. Usually have a previous exit and solid advantage over larger funds by niching down. Economics are still not great but it's just fund 1 for these guys and they can afford to float it + deliver ridiculousIRRb/c they know the space really really well.
This one has pursued a demographic niche. Which honestly has never made much sense to me, I can see the value in choosing a geography (network effect) or a vertical (network effect plus domain knowledge).
I figured that for a founder who had a decent exit these small funds offer decent pay, interesting work and the potential to make decent money on carry.
Lol this is like PicoVC.. micro is more than $25M to less than $100M per fund.
No way is this person funding their salary with the mgmt fees from that small a fund. They're probably dipping into savings big time.
快速数学的费用为$ 200万美元（假设标准2％的费用为2.5％），法律，基金会计和管理，会议和旅行之间的费用可能为每年1万美元。这是$ 10万美元的薪水。因此，它要么节俭地生活（尤其是因为健康保险，工资税等是从该数字中提取的），要付出储蓄，或者让配偶补充这些收入。
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