The Venture Capital Investor Podcast with Fexingo: Startup Investing for Limited Partners

Episode 4 of The Venture Capital Investor Podcast. Lucas and Luna dive into the mechanics of how sovereign wealth funds allocate to venture capital, using Singapore's Temasek and GIC as case studies. They break down the 'endowment light' model that blends direct investments with fund commitments, the way these funds evaluate emerging managers (hint: they look at your data room before your pitch de...

In Venture Capital Investor Episode 3, hosts Lucas and Luna unpack how the Yale Endowment model — the portfolio approach that made David Swensen famous — is being rethought for modern venture capital. They zero in on a specific case: the University of Texas Investment Management Company (UTIMCO), which in 2025 shifted 8 percent of its endowment into direct venture co-investments, bypassing traditi...

In episode two of The Venture Capital Investor Podcast, Lucas and Luna demystify how major pension funds like CalPERS and the Ontario Teachers' Pension Plan allocate capital to venture capital. They break down the actual mechanics of a pension's allocation decision, the role of fund-of-funds versus direct investment, and why a pension might commit $200 million to a VC firm like Sequoia or Andreess...

Episode 1 of The Venture Capital Investor Podcast for Limited Partners. We anchor on a specific number: SoftBank's Vision Fund deployed roughly $100 billion in its first incarnation, rewriting the rules of scale in venture. But the more telling shift? The rise of permanent capital vehicles and what they mean for LPs trying to get net-of-fee returns above public markets. Lucas and Luna unpack the V...