Swimming with Allocators

Earlier this week, we wrapped up the year with an incredible Swimming with Allocators lunch (sponsored by Brex) —a chance to bring together some of the sharpest minds in the venture and allocator world for a thoughtful conversation. We dove into pressing topics like what more consolidation in the RIA sector could mean for emerging managers and allocators alike. One of the standout predictions for 2025? We’re likely to see even more spinouts as mid-career allocators and GPs carve out their own paths. It was also great to reconnect with a few attendees who have been featured on the podcast this year—each of whom brought fresh perspectives to the table. If you’ve missed any of our episodes, it’s the perfect time to catch up. Swimming with Allocators dives deep into the allocator ecosystem, exploring trends, challenges, and what’s next for venture capital. Check them out (see links in the comments), and here’s to an exciting 2025 ahead!

How Mission-Aligned Investing is Reshaping Philanthropy 🎙 One of our favorite episodes this year featured Bob Bancroft, VP of Finance and Mission Investing at the Nathan Cummings Foundation. Bob shared his inspiring journey from the coffee industry to impact investing. ☕➡️💼 Key Takeaways from the Episode: Revolutionizing Endowment Strategy: The Nathan Cummings Foundation has aligned nearly 100% of its endowment with its mission, proving that mission-aligned investing is both impactful and profitable. Breaking Down Silos: Bob shares how the foundation fosters collaboration between investment and programmatic teams to drive meaningful outcomes. Championing Diversity: Through tools like Due Diligence 2.0, the foundation prioritizes diverse fund managers and redefines traditional investment metrics like AUM. Innovating with Flexible Capital: Learn how the foundation’s Flexible Capital Initiative funds transformative opportunities outside conventional investment frameworks. 💡 Quotes to Remember: “We recognize that this endowment is a really powerful tool, and we want to take it off the sidelines and integrate it with the mission of the organization.” “We need to redefine risk. Often, the biggest risk is doing nothing while the world changes around us.” “Seeing how a small investment and a little belief can completely transform someone's life changed the way I see the world.” “The water is fine! There’s no need to fear impact investing—plenty of us can help you find your way.” 🌱 Bob’s work reminds us that mission-aligned investing doesn’t have to sacrifice returns—it makes them stronger. 🎧 Listen to the full episode here:  Apple: https://lnkd.in/gAeGbghc Spotify: https://lnkd.in/gfhxnnRv YouTube: https://lnkd.in/grARvW3r Alexa Binns Earnest Sweat

Thank you to the GPFO team for sharing what Family Offices are looking for today in Co-Investment from venture funds. Expertise. Diligence. More helpful findings from their latest report discussed in Episode 50.

Our co-host Earnest Sweat believes we are seeing a shift in venture, with founders choosing "teams" similar to how younger sports fans pick their favorite team based on the player, not the team.

Last episode of 2024 out today! Don't miss it.

One of the biggest victories for me this year was reaching 10,000 podcast downloads on Swimming with Allocators. It’s proof that if you stay consistent, create value, and engage your audience, growth will come. Thank you to everyone who’s been along for the ride!

The last episode of Season 2 is coming out tomorrow!

Ten years ago, I was entering venture capital, thinking it was all about check sizes and deals. Today, I’ve realized it’s more about people and relationships. The mistakes? Not spending enough time building those relationships. But those lessons helped me become the connector I am today. What’s one thing you’ve learned over the past decade that changed the way you do business?

“The water is fine.” This week on Swimming with Allocators, we dive into the world of mission-aligned investing with Bob Bancroft, VP of Finance and Mission Investing at the Nathan Cummings Foundation. Bob shares how the foundation has transformed nearly 100% of its $500 million endowment to align with its mission—without sacrificing returns. Bob addresses the common fears surrounding impact investing and the myths that hold many allocators back: “There’s a pervasive myth that any deviation from traditional investment strategies means sacrificing returns. Eight years in, we’ve reallocated over $300M into new funds and met every performance benchmark.” He also discusses the practical steps and cultural shifts needed to integrate investments with mission, including embracing the Due Diligence 2.0 Blueprint, which helps remove barriers for emerging managers and creates opportunities for diverse talent. Whether you’re an allocator, a GP, or simply curious about how to align purpose with profit, this episode is packed with insights to inspire bold, long-term thinking. 🎧 Episode out now. Tune in to learn how to start the journey, overcome skepticism, and redefine what’s possible in investing.

A new episode is coming this Wednesday!