Paige Finn DohertyFounding Partner, Behind Genius · Founding Partner at Behind Genius Ventures

What does Invariantes Fund Co-Founder Fernando Pontaza think about when investing?

14 Mar 2023 · 1 min

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Fernando Pontaza, co-founder of Invariantes Fund, splits each fund 50-50 between investing in other venture funds and direct startup equity. The fund-of-funds half spreads risk across multiple external funds with different geographies and sectors. Fund 3 is currently open for new investors.

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I would love to hear more about the strategy. Like, what are those invariable things that you think about when investing and what do you invest in?
Got it. Well, I guess it's part of it is our model. It's a hybrid model where we invest half of our capital in other funds, half in direct tickets. And that in itself, we try to stick to very meticulously. We've done that in Fund 1, in Fund 2, and the current Fund 3 that we're investing out of, which is still open, by the way, if there's any Investors out there listening. But in our mind, we saw the half that we invested in other funds as a de-risked way to play VC, if you will, because let's say you're going to invest in a number of funds and those funds are going to invest in a number of companies. You're going to have a pretty, from the get-go, a pretty dispersed or distributed risk in a bunch of companies in that 50% of the portfolio. And you are also going to get perspectives on funds with different narratives, different geographical focuses, different sectors.