Short podcast-style YouTube clip from Precursor Ventures advising new general partners (GPs) and early-stage investors to ensure their first fund or first one-to-two deals are excellent. The speaker argues a strong start creates a reputational flywheel that attracts more high-quality companies and buys time to learn and scale the firm.
One of the biggest pieces of advice I got when I got started was from other experienced GPs who were just like, make sure your first fund is awesome. If your first fund is awesome, it will buy you a lot of time to figure things out. And I think the same goes I know other venture firms who feel the same way about new gps, make sure that the first one or two deals that they work on are awesome so that they get the reputational flywheel of being associated with a good company. And so more good companies seek them out. And if you can manufacture or create circumstances where that happens, it sets everybody up for success.
