A Novel Solution for LPs to Access Emerging GPs Biggest Winners with Sunil Pai

This week on Swimming with Allocators, Earnest and Alexa welcome Sunil Pai, GP of Angel Collective Opportunity Fund. During the conversation, Sunil shares his venture capital journey from his experiences at Deloitte, DFG (now Threshold), and AngelList, emphasizing the importance of aligning expertise with investment focus. Sunil introduces the Angel Collective Opportunity Fund, which supports emerging managers by providing capital for follow-on investments rather than SPVs, and supports Limited Partners by providing access to emerging managers’ best Series A and Series B deals. This episode Brian Huber, partner at Gunderson Dettmer, also shares a handful of the top operating challenges he’s helping his VC clients with today including the requirements of the new Corporate Transparency Act.
Highlights from this week’s conversation include:
Sunil’s background in venture capital (0:11)
First Contact with DFG (2:07)
Transition to AngelList (5:02)
Insights Leading to the Collective (6:57)
Shifts in Investment Strategy (10:05)
Insider Segment: Regulatory Changes Impacting VC (12:08)
Emerging Managers and Established Firms (15:31)
Angel Collective Opportunity Fund Overview (18:19)
Manager Selection Criteria (21:11)
Pitching to Founders (23:06)
Opportunity Funds in Context (27:15)
Rate of Deployment Expectations (28:25)
Emerging Manager Market Fit (30:12)
Starting as an Angel Investor (31:43)
Challenges for LPs in Small Funds (33:51)
Advice for Aspiring VCs (35:53)
Trends Among Emerging Managers (37:42)
Final Thoughts and Takeaways (39:46)
Angel Collective Opportunity Fund is a generalist opportunity fund composed of thematic specialists. Managers are selected annually, so the fund is not anchored to any one player and the team consistently aims to achieve the best access across the venture ecosystem. For investors, this approach works with proven emerging managers and maintains steady exposure to the top technology sectors each year. For more information, please visit: www.angelcollective.com.
Gunderson Dettmer is the preeminent international law firm with an exclusive focus on the innovation economy. The firm serves market-leading venture capital and growth equity investors and pioneering companies through inception, growth and maturity, as well as groundbreaking public companies that result from the global venture capital ecosystem. The firm’s clear-cut focus and well-honed technical skill enables an accelerated pace and unmatched efficiency, delivering best-in-class value at each phase of a client’s business. Learn more: www.gunder.com.
Swimming with Allocators is a podcast that dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. Each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts shedding light on emerging trends and technologies.
The information provided on this podcast does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this podcast are for general informational purposes only.