Capital Allocators Monthly - February 2022
“Successful investing is having everyone agree with you…later.”
– Jim Grant
Capital Allocators University. Registration for CAU2 closes on Friday, March 25th and orientation begins on April 1st. The cohort is filling up with some impressive institutions including US and Canadian public pensions, US and UK family offices, US E&Fs, and OCIOs, among others. Reach out to Hank with any questions.
Hot Jobs to Share. Send interesting opportunities our way and we’ll share them with the community. For job hunters, our Premium members get an early look at Hot Jobs before the rest of the crowd.
Hackensack Meridian Health Investment Office. Donna Snider has a slew of openings on her staff. HMH is looking for early-career candidates to join an experienced team of institutional investors and business builders. View Posting for Investment Associate, Private, Investment Associate, Public, Investment Associate, Portfolio Construction, and Investment Ops Analyst.
Hall Capital Partners. The $42 billion OCIO is looking for a Senior Associate to join their private equity team in San Francisco. Coverage will be VC, Growth, and Buyout. Ideal candidate has 3 – 5 years experience and/or is post-MBA.
Investment Associate, U.C. Berkeley’s Endowment Management Company. One of the world’s great universities is looking for an early-career associate to join the team as a generalist. Ideal candidate has 1 – 4 years’ experience. Located in the Bay Area, you’ll work with a great team across all facets of the portfolio. View Posting Here.
Canalyst. This year’s Manager Meetings sponsor just closed their Series C and has plans to double their team in the next year. With open roles across equity research, product, sales, and marketing, take a look at how you can be a part of one of North America’s fastest-growing companies serving the most sophisticated investors in the capital markets. View Posting Here.
A Word from Our Sponsors
Janus Henderson Investors. This month from JHI’s institutional blog, Portfolio Manager, Andy Acker, CFA, explains why he believes the selling does not match up with the sector’s long-term growth prospects.
Read From Defense to Offense in Biotech
Third Bridge. Third Bridge is a widely used provider of expert interview transcripts whose clients include past Capital Allocators guests across private equity, public equity, and credit. Their coverage is incredibly extensive with over 30,000 company and sector transcripts available on-demand. Each transcript records a 1-hour interview between an unbiased analyst and an industry executive.
Access Free Trial
Aumni. Wondering if the terms in that term sheet are market? Aumni’s Benchmarking Term Sheet tool can help you instantly view market data on a term-by-term basis while preparing a draft term sheet based on NVCA’s model legal document. Thanks to Aumni for sponsoring our latest mini-series, Venture is Eating the Investment World.
Learn More About Aumni
Canalyst. Back to sponsor Manager Meetings for the first half of 2022! Detailed, company-specific data and models on over 4,000 global equities with appropriate adjustments and relevant KPIs for each company. Join the hundreds of funds that already use Canalyst to spend more time on analysis, thanks to exceptional accuracy and coverage.
Ordered by reading time: tweets first, books last, and blog posts and articles in between.
1. Tom Brady’s Backup Plan. In another nugget from our friends at Admired Leadership, the GOAT quarterback had prepared a resume after falling to the 5th round of the NFL draft in 2000. Those practicing excellence routinely create optionality.
Read LinkedIn Post
2. Caveat Emptor for Crypto Investors. Regan Bozman of crypto fund Lattice discusses the potential risk to LPs chasing returns in crypto funds. The same thought process may apply to venture more broadly as well.
3. Cembalest on Crypto. JPMorgan’s Michael Cembalest examines adoption trends, capital flows, and use cases for cryptocurrencies and blockchains.
Read The Maltese Falcoin
4. Fundamental Approaches to Crypto. Kai Wu at Sparkline Capital (former GMO) describes a value strategy for small cap tokens.
Read Wu, Value Investor’s Guide to Web3
5. Ravi Gupta’s Blog. Sequoia Partner and former Instacart COO dives into building culture, effective leadership, and hiring.
Read Ravi’s Blog
Bonus: The Restless Billionaire. HBO’s documentary on the life and career of Carl Icahn is a great watch, including behind the scenes anecdotes of some of his marquee takeover campaigns.
Watch The Restless Billionaire
Capital Allocators Episodes
EP.234: Aydin Senkut – Tenacious Sourcing and Founder Support at Felicis (Venture is Eating the Investment World EP.6)
EP.235: Joelle Kayden – Canvassing the Landscape at Accolade Partners (Venture is Eating the Investment World EP.7)
EP.236: Josh Wolfe – Caution and Innovation at Lux Capital (Venture is Eating the Investment World EP.8)
EP.237: Marko Papic – Geopolitical Shock in a Multi-Polar World