A fund manager says his firm has assembled 250-280 funds in two years, mostly run by dentists, doctors, and lawyers raising capital part-time from their professional networks. Technology and vendor services now make this scalable without quitting your day job.
One big misconception, I kind of alluded to it earlier, is that you have to be a full-time capital raiser to be able to do it. We've pushed over 250 to 280 or so over the last 2 years, fund of funds that we've put together. The vast majority of those folks are doing something else as well. They're not just raising capital, like they're full-time dentists, doctors, lawyers, engineers, and they base their network from that. They actually get the network that they raise capital from, from their W-2. And that's why they're successful at also raising capital. Now, in the past, maybe you would have had to would have been full-time. But again, because the technology exists, because the vendors exist, because lead sponsors are adopting this capital raising channel and making it easy for fund managers to raise capital and giving them a program and a step-by-step way to do things, it doesn't have to be a full-time endeavor.
