P72 L/S vs P72 Ventures
They sound quite interesting and would have overlap with what I already cover in MM PE. Aside from the obvious pros/cons of public equities vs venture capital, what are the general opinions of how these are viewed in their respective fields? From my cursory review of posts it seems P72 L/S is generally viewed as one of the top MMs a notch below the MLP/Citadel. Don't know much about ventures but have seen they have some great portcos and that they're active across all the "hot" sectors like AI/Crypto/Consumer Internet. Would very much appreciate any other insights on things like culture, quality of the businesses, how they're viewed by professionals within the industry, etc.
P72 is a top name, quality infrastructure and talent, but you don't work for P72, you work for a PM at P72. Their track record and ability to generate PnL trumps anything else.
OP here - Yes, from what I've gathered that's how most MMs work so it tracks. How are their TMT pods generally rated? Any good names to look out for that come to mind?
Not too clued in to the space, but there's an SF team in the space that's highly regarded.
Special treatment from Steve...
Is working at a VC similar to a L/S where your coverage is 30+ names? Are VC analysts/associates covering private companies like that? Guess I'm interested in seeing the differences from responsibility.
No, VC will be spending time on the sourcing side and is more akin to PE Biz Dev than L/S in terms of day-to-day. The general responsibilities between the two sides will have very little overlap. You will have a "coverage universe" since the teams are split up by sector but it'll likely contain a good bit more than 30 names (and you'll always be on the lookout to add more) which you obviously approach very differently given they're more early/growth stage privates.
so mostly doing broad market research, looking at these private co's, establishing a relationship, and then seeing how much/when to fund? Apologies for the junior level questions, i've always been on the equities side of things.
What’s MLP?
Multi Ligma Partners
Now ask me what Ligma means
what does ligma mean?
Google is your friend
It's Millennium.
P72 ventures is also very team dependent. Need to focus on the individual track record of the people you'll be working under
OP here - how are the AI and defense tech teams viewed? Looks like they're the primary focus these days. Any idea if they split them up between partners within a vertical or are the teams vertical themselves the different team? Any ability to work cross functionally?
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