The Funds Gap

The Funds Gap (part 2 of 2) by Michael Schmanske Consider the structure of an Institutional Asset Manager. They charge 2% on Assets Under Management (AUM). So a $250M fund generates $5M /year in fees. Operational and fundraising expenses take away ~ 40% of that leaving $3 million for compensation. An institutional PM doesn’t get… Continue reading The Funds Gap

Managed Syndicates – The “Why” for Investors

Managed Syndicates for investors by Michael Schmanske Okay so we’ve covered “What are Managed Syndicates?” How about “WHY are Managed Syndicates?” For Investors in early stage startups you have a choice. Go alone or with a group. If you are a High Net Worth individual and have the liquidity to invest and manage investments with… Continue reading Managed Syndicates – The “Why” for Investors

Syndicates: A Primer

Syndicates: A Primer by Michael Schmanske Special Purpose Vehicles (SPV’s) are the smaller, older sibling of a product that made a huge splash last year, the Special Purpose Acquisition Company (SPAC). I won’t detail the differences, but suffice to say the motivation, fee structure and investment targets are drastically different between these products. The benefit… Continue reading Syndicates: A Primer

An Early Stage Investment Framework

An Investment Framework by Michael Schmanske Anyone who knows me, knows I have no choice but to be blunt. I spent the early part of my career in the trading pits yelling orders and competing against 200 of my closest enemies. Those were my calm days. Half-joking aside, I spent my Wall Street career working… Continue reading An Early Stage Investment Framework

Late State VCs Moving Downstream

CB Insights shared the fact that some of the larger venture firms, who also happen to do most of their work in large and later stage rounds, are being forced to move earlier in the cycle. Tiger Global, the top investor in Q2’22, made a dramatic swing this year as just shy of 50% of… Continue reading Late State VCs Moving Downstream

Ai Medica: Turbo-charging EHRs for Better Outcomes & More (227)

Ai Medica makes it easy to create clinical and economic value from EHR data using evidence based medicine. They have built a platform on SMART on FHIR interoperability standards that allows them to integrate evidence based calculators into the EHR in a matter of weeks. Their mission is to simplify evidence based clinical work flows… Continue reading Ai Medica: Turbo-charging EHRs for Better Outcomes & More (227)

Raising & Investing – Early Stage Startups

The number of misconceptions around both how to raise capital for your startup and how to effectively invest in startups is mind-boggling. Neither is a perfect science. In fact, they are a blend of best-practices and art. We write on each of these topics regularly, but we wanted to share some best-practices in one place… Continue reading Raising & Investing – Early Stage Startups