Top Lessons from Slice Podcast Season 1

This week on Slice, we’re sharing our top learnings from the 10+ guests we’ve interviewed so far.

The Unbundling of Accelerators

The best founders aren’t coming out of accelerators anymore. We’re seeing institutionalized angel funds cutting $100K to $300K checks, enabling syndicates to pull together $500K rounds. The number one skillset for founders now is fundraising. Structure your raise to minimize dilution. Gather small capital from targeted syndicates who offer strategic support.

Build a Firm, Not a Fund

Mike put it best: “You’re not just building a fund. You’re building a firm. A fund is a vehicle, but the vision is the firm itself. Fund I is just the beginning.” Emerging managers who succeed understand that pitching a firm is pitching themselves. Clarity of purpose is crucial.

The Role of an Emerging Manager Is Different

At big firms, GPs specialize. Emerging GPs context-switch relentlessly. Before noon, you’ve pitched LPs, spoken with founders, negotiated with lawyers, checked in with your fund admin. This is why operators and founders often make the best emerging managers. They’re used to juggling. Traditional GPs spinning off from large firms struggle without the structure.

Passion Over Opportunity

Not every manager should raise a fund. Passion and purpose must drive it, not management fees. Spectacular returns require commitment, vision, and a clear value proposition.

Be Clear About The Value Proposition

The best emerging managers know their strengths, acknowledge their limitations, focus on meaningful support. The most valuable thing they can bring is talent: employees, partners, advisors, angels. Building a team and executing separates good ideas from great companies. These managers don’t try to be everything. They lean into their strengths while being honest about where they don’t add value.

Full episode below, or on Spotify / Apple Podcasts