Short Description:
- A mental model of the company side of a GP position. First is sourcing or seeing the companies as it is not a given in a private market that the set of investments will be available to all. Second is choosing which investment you want to make. Third is being able to make the investment and winning the agreement of the founder. Fourth is supporting portfolio companies until fifth it is time to exit by selling the position or entire company.
Benefits:
- Gives a clear mental model for how to think about the job and where to spend time.
Trade-offs:
- Leaves out running the firm and LP relationships/fundraising which are important parts of the jobs.