The first RAISE Global Summit (then called RAISE in the Presidio) was held in April of 2016. Our evaluators reviewed 75 managers and selected 8 to present at the event. In the eight years since, RAISE has welcomed over 1,000 emerging funds to the Global Summit, resulting in hundreds of fund allocations.
Given the growing GP demand, we instituted two changes last year to our GP participation model. First, all GPs who want to attend RAISE must complete an application. An independent committee of LPs reviews and rates these applications to select the 100 GPs we invite to the event. 20 GPs present on the main stage, and the remaining 80 participate in panels or breakout sessions. This highly curated format yields an unheard-of ratio of LPs to GPs and gives every attending GP a chance to be a speaker.
Second, with applicants’ permission, we publish all qualified funds on the RAISE Emerging Manager Database, giving even those GPs who don’t make it to the Summit the opportunity for our 1500+ LP community to discover their fund, review their materials and reach out directly over a 6-month period. This structured selection process helps to optimize GP exposure to the LP Selection Committee initially, and subsequently to the larger RAISE LP community over an extended period.
If you are applying for an invitation, or if you are just working on your firm’s deck, here’s a summary of what the RAISE LP Selection Committee is looking for. A strong deck will effectively address these areas in 10-20 core slides.
Niche: Is there a clear reason for this firm to exist?
Is your firm differentiated from others? With thousands of new VCs in the industry, it’s becoming increasingly challenging to stand out and be differentiated. Over the past few years, investors have clearly indicated a preference for thematic or unique strategies.
Potential: Is the strategy financially compelling?
Okay, so you have a reasonable differentiation. Is the strategy financially compelling? Does your approach to venture have the potential to create great returns for your investors?
Investment Experience: What is the team's level of investment experience?
Across your investment team, how much experience does your firm have making investments, and what is the quality of results you’ve demonstrated? Investing is a skill. Be sure to show that your team has the skills to do the job.
Personal Achievement: Does the team have a demonstrated record of personal achievement?
Clearly let investors know the accomplishments of your team. Not just logos; what are recognized leadership capabilities and outstanding professional achievements ?
Suitability: Is the team’s prior experience suited to the proposed strategy?
So you have a niche with potential. You have a team with both personal achievement and investment experience. Now show that you have the right team for this strategy.
Support: What level of support will the team be able to provide its portfolio?
The best investors provide more than just money to their portfolio companies. What will you do after investing to maximize the potential of your founders?
Each application is reviewed by at least two of the professional allocators on our Selection Committee using the above standard set of criteria. If a large difference in review opinions is detected, the application is reviewed yet again.
Ratings are normalized across the team to balance the influence of each committee member. Finally, a few automatic adjustments are made. For example, if you applied last year and were not invited, you get a bump for trying again. If you presented last year, you cannot present again this year, however you can still be invited to attend. If your investment team has diversity, you get extra consideration.
The results of all this work are synthesized and then reviewed by the production staff. As a final check and balance, firms on the bubble (90-110) are reviewed yet again to ensure the results are as fair as possible.
This is how we deliver the stellar line-up of GPs for the RAISE Global Summit in San Francisco on October 26th. Every invited firm will be worth meeting! You do not want to miss this uniquely curated opportunity.
If you are an emerging manager, be sure to apply now before the deadline of June 30, 2023.
If you are an LP and have not yet received an invitation, click here to request one today.
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Disclaimer
The Tipping Point Series (“Tipping Point”) is a collection of interviews with fund managers who (a) have previously raised a venture capital fund and (b) are providing advice and insights into the formation and management of venture capital funds (the “Presentations”). Tipping Point is not an offer to sell or a solicitation of an offer to buy any security issued by any venture capital fund, including without limitation, any venture capital fund managed by Tipping Point’s speakers, presenters, or producers.
The Presentations do not (a) provide investment advice with respect to any security or (b) make any claim as to the past, current, or future performance of any security or venture capital fund, and Tipping Point expressly disclaims the use of the Presentations for such purposes. The Presentations are not intended to constitute legal, tax, accounting, or other advice or an investment recommendation. Prospective fund managers should consult their own advisors about such matters with regard to their venture capital funds. Raising a venture capital fund involves significant risk of loss of income and capital, including loss of the full amount raised and invested, which may occur as a result of identified or unidentified risks.
Tipping Point is produced by Raise Conferences, LLC (“Raise”). Raise is a private invite-only venture capital conference, which provides a forum for venture capital funds to network with and present to potential venture capital investors. Although Raise produces Tipping Point, the Presentations are independent of Raise’s conference and do not provide any forum for the Tipping Point speakers, presenters, or producers to solicit the sale of any securities.
