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

What is Foundry Partner Jaclyn Hester's one key takeaway from the venture in the past six years?

24 Nov 2022 · 1 min

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In this interview excerpt, Jaclyn Hester shares her key takeaway from six years in venture: the dynamics between General Partners (GPs) and Limited Partners (LPs) closely mirror the founder‑GP relationship, just one level up. She advises GPs to apply the instincts they use with founders when dealing with LPs—identifying talent, allocating capital, and scaling growth—while recognizing that there are nuanced differences unique to the LP‑GP partnership. This perspective is presented as a best‑practice framework for LP communication and capital calls.

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What would you say are like some best practices around like, let's start with LP communication so we can move to cap call.
Yeah, so I think that one of my takeaways, I think, in venture in general over the past 6 years is that a lot of what we do in the GP-LP world is very similar to the founder-GP relationship. And so that like, it's not always the right context and it's not always the right analogy, but I encourage GPs to think about Their experience with a founder and just think about it as one layer up. And so it becomes a lot— I think it becomes a lot easier to have good instincts and like understand what to do with LPs when you think about it that way. So it's just one level up, right? We're basically as LPs, our job is find talent, just like a GP's job is to find talent, put capital behind it, and then help it scale, right? And so that's— it's very similar. But I think there are some things that are nuanced to the LP-GP relationship that are different to the, to the founder-LP relationship.