Hey all, I'm considering launching a VC and growth capital fund, and I need to put together a plan for salary and carry participation. I am taking CEO/CIO role. Do you monkeys have good salary and carry data for a small VC fund? I'm looking for salary surveys
Fund is targeting $100mn raise. Fund is being launched on an existing accelerator platform, so that I'm borrowing someone else's back office and brand. I'm required to do the capital raising myself. Fund is in Asia, which is notorious for lower pay and very limited carry participation.
The platform has 2 financial sponsors - an accelerator that I've been affiliated with, and a large VC fund. This likely means that I will have to share a lot of the economics with the sponsor. And because we're focused on early stage food-tech investments, it invariably is going to take a long time to see exits.
The financial sponsors have historically been stingy, and have paid their employees de minimis pay and effectively no carried interest. However they are willing to listen to proposals from me on what is 'market standard' for VC salaries, carry, and employee participation. I want to present the sponsors with data showing what is industry standard, and negotiating for them to match this.
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I don't get your meaning. Please elaborate.
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It's a standard VC fund with the exception that it's being launched on someone else's platform, using their brand, license and track record to facilitate the fund.
I'd be the CEO of the fund and leading the investment team.
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Yeah uh could've shaved a lot of words there by saying 1) Co-investor and 2) Lead investor. I've literally never heard anyone say "LP fund" when referring to VC fund.
Also, plenty of co-investors, angels, and strategics offer tangible support. And I'm sure you know VC is just an asset class...if strategic and angels have funds dedicated to investing in early-stage private companies, they're venture capital funds.
I'll call / text you with what I found. Would be fun to compare notes.
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