Terman Capital Partners

> $60 million invested as a “Part-Time VC” What a blast sharing my story with Starter Story / Pat Walls (full YouTube vid in comments)! Pat did a great job of explaining my not-so-well-understood journey into venture capital via Special Purpose Vehicles/Syndicates. It’s really been a side hustle dating back to 2018 while I was operating at an early-stage startup that I joined as the 1st employee. Since then, i’ve been able to lean into the SPV model and deploy over $60 million while doing this Part-Time. This is not a common route into VC, but I think it should become more common, or at least better understood for anyone interested in the venture capital asset class… already in VC or those looking to get a foot in the door. As you know, this is why Zachary Ginsburg and I decided to start Last Money In. Syndicates are by far the best way for GPs & LPs to build a portfolio and track record ON THE SIDE or ALONGSIDE WHATEVER IT IS YOU ALREADY DO! While I’m biased (as this was my path), I still think SPV’s are an amazing route into venture capital that can lead to: 1) joining a fund  →   Bryan Rosenblatt started doing SPVs when at Reddit and is now a Partner @ Craft Ventures with David O. Sacks. 2) raising a fund   →   Zach Coelius was an early AngelList syndicate and has since gone on to raise Coelius Capital, which he founded. Ali Jamal has done the same w/ First Check Ventures 3) building a great portfolio   →   Zachary Ginsburg has invested in like 300+ companies. I know many other syndicate leads who have portfolios greater than 50, 100, 200 SPV’s 4) deploying a lot of capital  →   I *think* Gaingels has invested like over $300 million or something into startups, primarily  through SPVs. I also know plenty of other syndicates that have deployed meaningful amounts 5) generating a lot of carry  →   literally every syndicate lead that’s been doing this for a few years has meaningful carry that can become liquid in the coming 3-7-12 years…and it’s deal by deal carry unlike a traditional venture fund model 6) Identifying your next operating role   →   Jeremy Terman was an investor via DashAngels and has joined 2 companies in FT roles that he was an investor in first (7shifts: Team Management for Restaurants & Lunchbox) 7) And many more! Okay, rant over, and back to the Starter Story Video... Check out the video linked in the comment to learn more on: - How syndicates work - Why syndicates play a major role in my VC journey - How others can get into VC via syndicates - Scouting/Sharing deals w/VC’s - Becoming a “Part Time VC” - How you can get started with $1k - How I’d start over And more! Reminder  →  275 startups investments later and it’s still not my full time job.