E384: CEO of Commonfund on Venture Capital, Power Laws & the Future of IPOs

Highlights:

• The surprising story of how donuts helped unlock access to a top-tier VC fund
• Why venture capital has the greatest performance dispersion in investing
• The difference between average and top-quartile venture returns
• How Commonfund evaluates emerging managers before the market finds them
• Why access in venture is earned, not bought
• The case for a rules-based approach to venture investing
• Why innovation is completely uncorrelated with the business cycle
• Mark’s framework for managing “human capital” throughout a career

Guest Bio:

Mark Anson is the Chief Executive Officer, President, and Chief Investment Officer of Commonfund, where he oversees more than $35 billion in assets serving endowments, foundations, and institutional investors. Throughout his career, Mark has led investment organizations at some of the world’s most prominent institutions, including CalPERS, the Bass Family Office, British Telecom Pension Scheme, Hermes Pension Management, and Nuveen Investments. A prolific author, researcher, and educator, he has published more than 100 journal articles and several leading finance textbooks, including The Handbook of Alternative Assets.

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Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

Stay Connected with David Weisburd:

X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Capital: https://www.weisburdcapital.com/

Stay Connected with Mark Anson:

LinkedIn:https://www.linkedin.com/in/mark-anson-7a9b4a75/

Questions or topics you want us to discuss on How I Invest? Email us at [email protected].

Disclaimer:

Each of CF Private Equity, Inc. and Commonfund OCIO, Inc. (collectively, “Commonfund”) is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes and should not be viewed as a recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy. The opinions expressed herein represent the current, good faith views of the participants at the time of publication, are not investment advice, and should not be relied upon as such. The information discussed herein has been developed internally and/or obtained from sources believed to be reliable; however, Commonfund does not guarantee the accuracy, adequacy, or completeness of such information. There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions stated herein. This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons.