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@pavelprata "5/ Once you clear the committee hurdle welcome to the ILPA Due Diligence marathon. XXX questions across operational investment ESG and financial categories. Budget 47+ hours just completing paperwork. Institutional DDQ is 6x longer than family office questionnaires"
@pavelprata on X 2025-07-22 16:37:18 UTC XXX followers, XX engagements

"8/ This creates what I call the "Emerging Manager Paradox": Institutions want emerging managers (outperform by 200-400 bps) but require institutional track records. Solution Emerging manager programs: - @HarbourVest - Adams Street Partners - Pantheon - Greenspring Associates Your stepping stones to direct capital"
@pavelprata on X 2025-07-22 16:37:19 UTC XXX followers, XX engagements

"11/ Assuming references go well you enter the timing dance again. - Q1: Budget planning - best for initial relationship building - Q2: Decision season - committee presentations peak - Q3: Summer slowdown - use for deep due diligence - Q4: Year-end crunch - final commitment decisions Marc Stad said: "Timing isn't everything but everything depends on timing.""
@pavelprata on X 2025-07-22 16:37:20 UTC XXX followers, XX engagements

"11/ For LPs evaluating the wreckage: The peak ZIRP era taught us that cheap money creates expensive mistakes. Next time rates hit zero remember this thread. Easy capital makes for lazy investing"
@pavelprata on X 2025-07-17 16:33:12 UTC XXX followers, XX engagements

"12/ Find this valuable Like and share this post to help others ❤ My Linkedin: My Substack: My Notion VC guide: Follow me for a front-row seat to the world of VC fund managers and LPs"
@pavelprata on X 2025-07-17 16:33:12 UTC XXX followers, XX engagements

"12/ After analyzing dozens of institutional fundraises here's the sobering math: - Timeline: XX months from first meeting to wire - Conversion rate: XXX% of prospects commit - Minimum fund size: $100M+ to be taken seriously - Annual costs: $2.1M+ in infrastructureIt's not for everyone. But crack this code and you've built something generational"
@pavelprata on X 2025-07-22 16:37:21 UTC XXX followers, XX engagements

"7/ Beyond operations institutions evaluate track records through quantitative lenses that would make quant funds jealous: - IRR vs benchmarks: Top quartile required - Multiples: 3x+ fund returns expected - Attribution: Skill vs market beta - Consistency: Performance across cycles Lisa Edgar (Top Tier): "Performance alone isn't enough anymore.""
@pavelprata on X 2025-07-22 16:37:19 UTC XXX followers, XX engagements

"Edition #2: XX New Funds Launched Q1 Fund Performance Benchmark Endowment VC Sales. Just dropped June 2025 @murphcapital newsletter my monthly brain-dump of the most useful stuff Ive come across as an operator in the GP/LP world. What's inside 👇 Top X Twitter insights: - Q1 2025 VC benchmarks: Net IRR TVPI and DPI data (h/t @PeterJ_Walker) - XX standout solo GPs and their investment focus (h/t @alexklein0x) - A complete breakdown of VC fund fees and expenses (my post) - Why endowments are dumping VC stakes on secondary markets (h/t @MeghanKReynolds) - What does risk management in VC mean"
@pavelprata on X 2025-07-01 14:16:20 UTC XXX followers, XXX engagements

"4/ Your first complexity on raising $ lies in committee dynamics. You're selling to 6-12 investment committee members who meet quarterly. Your champion must: - Get you on agenda (60-day notice) - Write internal memos - Navigate office politics David Swensen: "The best opportunities often look risky to committees.""
@pavelprata on X 2025-07-22 16:37:18 UTC XXX followers, XX engagements

"6/ That DDQ complexity reveals something deeper - institutions require institutional-grade operations: - Fund Admin: SS&C Citco ($150K+ annually) - Legal: Top-tier fund lawyers ($200K+ setup) - Audit: Big X firms ($100K+ annually) - Compliance: RegTech systems ($50K+ annually) $500K+ operational costs before investing dollar one"
@pavelprata on X 2025-07-22 16:37:18 UTC XXX followers, XX engagements

"10/ What happens next is the reference check industrial complex in full swing. Institutions typically call 30+ references on average (vs. X for family offices): - Portfolio CEOs: Evidence of value creation - Co-investors: Deal sourcing and execution capabilities - Service providers: Operational competence verification - Former LPs: Partnership experience - Industry contacts: Reputation and character Every single conversation matters. I manage these relationships like a full-time job"
@pavelprata on X 2025-07-22 16:37:20 UTC XXX followers, XX engagements

"13/ Find this valuable Like and share this post to help others ❤ My Linkedin: My Substack: My Notion VC guide: Follow me for a front-row seat to the world of VC fund managers and LPs"
@pavelprata on X 2025-07-22 16:37:21 UTC XXX followers, XX engagements