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Brian Singerman’s New Fund Has a Twist, and Peter Thiel as a Big Backer
Marina Temkin reports for TechCrunch.
In a departure from the traditional venture capital strategy, former Founders Fund General Partner Brian Singerman and Quiet Capital co-founder and managing partner Lee Linden are launching a new fund called GPx, which is seeking over $500 million in commitments. What sets this venture apart is its unique two-pronged approach: allocating approximately 20% of the capital to funds managed by emerging VCs targeting pre-seed and seed-stage startups; and partnering with these same emerging managers on leading later-stage investments (likely Series B) within their own portfolios.
This innovative strategy, backed by Peter Thiel, Founders Fund co-founder, marks a significant departure from standard VC practices. The new fund-of-funds approach is poised to revolutionize the industry as it provides an opportunity for early-stage VCs to lead larger later-round investments in their breakout companies.
Source: techcrunch.com
