Follow me @samirkaji for my thoughts on the venture market, with a focus on the continued evolution of the VC landscape.
This week we are re-joined by friend of the pod Ryan Hoover who is the Managing Partner of Weekend Fund and Jordan Gonen, Co-Founder and CEO of Compound, a fintech platform that provides wealth management and advisory services to founders and employees of startups.
This was a special episode covering the growing intersection of the private wealth sector and venture capital investing, and what trends we are all seeing.
We hope you enjoy my conversation with Ryan and Jordan.
Frank, Rimerman + Co.’s history is closely intertwined with that of Silicon Valley. With humble beginnings similar to so many start-ups, Frank, Rimerman was formed with a desire to serve the entrepreneurial and venture communities of the Valley and the determination to think outside-the-box.
When it comes to venture funds, we work with almost 500 VC groups from over 20 states across the USA. We have worked with over 400 fund groups during their first year of operations, making us one of the leading providers in the country to emerging managers.
No one wants to be bored at work. That’s why we chose to work with some of the most innovative and creative people – people who are changing the world around us every day. Their excitement fuels our passion and determination to grow and serve this special community.
Frank, Rimerman + Co, Passion Works Here.
About Ryan Hoover:
Ryan is the founder of Weekend Fund. He started his professional career as a product manager in the gaming industry. His fascination with technology and behavioral psychology led him to help write Hooked: How to Build Habit-Forming Products.
In 2013 he founded Product Hunt, inspired by his curiosity and a desire to support early-stage makers and founders. The company raised capital from Y Combinator, Andreessen Horowitz, and others before joining AngelList.
About Jordan Gonen:
Jordan Gonen is the Co-Founder and CEO of Compound. Prior to that, he was at Scaphold (YC W17) and Pluot (YC W16). He also had stints at Inside, RealtyShares, Cultivation Capital, and more.
Jordan’s writing has been featured in Forbes, Fortune Magazine, Startup Grind, Entrepreneur, Business Insider, Inc., Time, Mashable, Elite Daily, the Huffington Post, and others. Jordan studied at Washington University in St. Louis.
In this episode we discuss:
(02:20) Why Jordan started Compound
(05:06) Why High Net-Worth Individuals seek out Alternative Investments
(08:31) Motivations for becoming an LP
(12:08) Advice for those new to Venture Investing as an LP
(16:46) How you should evaluate a fund manager
(23:04) Building deal flow as an emerging manager
(27:22) Red flags when evaluating an investment
(32:31) What the markets will hold in 2023
I’d love to know what you took away from this conversation with Ryan and Jordan. Follow me @SamirKaji and give me your insights and questions with the hashtag #ventureunlocked. If you’d like to be considered as a guest or have someone you’d like to hear from (GP or LP), drop me a direct message on Twitter.