Podcasts · VC10X - Investing, Venture Capital, Asset Management, Family Office, Wealth Management
PE10X - World's 1st Secondary Fund - Andrew Reilly, Managing Director, VCFA
· 58 min
Episode PE10X - World's 1st Secondary Fund - Andrew Reilly, Managing Director, VCFA
Andrew Reilly is a Managing Director at VCFA, the world's first secondary focused fund. Andrew joined VCFA in 2017 primarily to focus on origination and development of venture and growth equity secondary opportunities.
Links:
⭐ Sponsored by Podcast10x - Podcasting agency for VCs - https://podcast10x.com
VCFA website - https://vcfa.com/
Andrew Reilly on LinkedIn - https://www.linkedin.com/in/andrew-k-reilly-5782a019/
🎙️ Hosted by Prashant Choubey
Follow Prashant on X - https://x.com/ChoubeySahab
Follow Prashant on LinkedIn - https://www.linkedin.com/in/choubeysahab
In this episode we talk about -
- The history of VCFA and being the first secondary fund
- The different types of secondaries they deal in at VCFA
- How they buy winners at a discount
- The difference between direct secondaries VS GP leds VS LP interests
- How do they evaluate a VC portfolio for a secondary transaction
- Sourcing high quality secondary deals
- What is the risk/return profile of secondaries
& lots more
Timestamps:
(00:00) Introduction
(02:49) History of VCFA and Dayton Carr, founder of the secondary industry
(07:31) Types of secondaries: GP-led transactions, LP-led deals, and direct secondaries
(11:11) Evaluating a VC firm's portfolio for acquisition
(13:34) Why sellers would sell assets at a discount
(35:27) Sourcing high-quality secondary deals
(41:08) Risk-return profile of secondaries
(47:08) Goals for the new fund, including potential expansion into real estate secondaries
(52:28) Rapid fire round of questions about VCFA's investment strategy
For sponsorship or guest appearance requests, write to prashantchoubey3@gmail.com
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Links in the notes 3
Transcript
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