E22: Phin Barnes on Unbundling VC

In this episode of Turpentine VC, Phin Barnes, co-founder of The General Partnership, joins Erik Torenberg to discuss Phin’s idea of building a YC for emerging fund managers, the sweat equity model, and building the General Partnership. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine

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RELATED SHOWS: The Limited Partner

If you like Turpentine VC, check out our show The Limited Partner with David Weisburd, where David talks to the investors behind the investors: https://link.chtbl.com/thelimitedpartner

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X / TWITTER:

@phineasb (Phin)

@theGP (The General Partnership)

@eriktorenberg (Erik)

@TurpentineVC

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TIMESTAMPS:

(00:16) Episode Preview

(01:16) The Journey of Starting a Venture Firm

(05:49) Exploring Different Business Models in Venture Capital

(08:56) Building a YC for Emerging Managers

(12:53) The Evolution of Sweat Equity Ventures

(20:00) The Sweat Equity Model

(24:24) The General Partnership’s Product Offering

(26:53) Sponsor - Netsuite and Shopify

(29:30) Fund Sizing

(35:49) Unbundling of Venture Capital 

(45:04) Advantages of Service for Equity

(49:06) The GP’s Services Pricing

(50:38) Incubation

(54:02) The Importance of Talent Networks

(01:07) Advice for Starting a Fund Right Now

(01:14) Talent Networks

(01:19) The GP’s LPs