At this year’s SuperVenture, we thought to ourselves:
How about we stick one of the best LPs with one of the best most trailblazing emerging GPs in a room together and record it?
🤔 became 🤯 which then became 🎧 and 📺 .
We’d love to hear what you think about the format! 🗯️
On the GP side of the table, we have Marc Penkala, co-founding partner of Altitude former Investment Director at Mountain Partners & Nazca in Latin America, Marc deployed a mid 8-digit Euro amount into early-stage startups and brings a decade of VC experience. He is a VC Advisor to multiple VC funds such as at Nucleus Capital, Giano Capital, AQVC and Korify Capital & former CVC Advisor to Hypoport SE, Henkel AG and various Family Offices. Marc is an active Angel with close to 30 startup investments and he as well co-founded 3x companies in the past. Marc is currently building āltitude, jointly with Ingo Drexler and Videesha Böckle.
On the LP side of the table, we have Michael Sidgmore, Co-Founder and Partner at Broadhaven Ventures, a global early-stage financial technology investor that invests principal capital into fintech companies, VC funds, and incubates asset management businesses, the current of which is a GP staking fund. Broadhaven Ventures is built on top of fintech investment bank, Broadhaven Capital Partners, which has advised over $90B in transactions, including Franklin Templeton's $1.75B acquisition of Lexington Partners and TPG's $3.1B acquisition of Angelo Gordon, amongst others. Broadhaven has invested in the likes of Carta, BioCatch, Nowports, Republic, amongst others. As LPs, we have also invested in the likes of Goodwater, Lowercarbon, Polychain, Boost VC, and Tiny VC, amongst the 20 funds in our portfolio.
Michael is also the founder of alternative investments focused podcast Alt Goes Mainstream - go subscribe! and one of the owners of Angel City FC, the women's soccer team in LA. But with no further ado, let’s get to the it.
Jump to the parts that matter to you 👀 Watch it in full in the bottom 📺
00:00:00 - Introduction to the LP Pitch Meeting Concept
00:02:20 - Introduction to Broadhaven Ventures by Broadhaven Capital
00:05:36 - The Importance of Unique Edge in Emerging Managers
00:08:00 - The Value-add of Broadhaven Ventures
00:10:10 - The end-to-end investment process with Broadhaven Ventures
00:11:15 - Marc seeks out the preferred focus of Michael during the meeting
00:11:54 - Marc’s journey into venture and finally to co-founding Altitude
00:14:37 - Early entrepreneurial journey and learnings fro being a founder
00:16:34 - Learnings from acquiring venture funds: The Tipping Point
00:19:04 - Building Trust and Assessing Managers
00:21:13 - The Evolution of E-Commerce and Direct-to-Consumer
00:23:24 - Starting a New Chapter
00:25:18 - The Vision of Altitude: Building the Perfect Fund for Europe
00:27:29 - Differentiating through Sourcing - “Better Access, Earlier”
00:29:25 - The Birth of Open Angel - an angel co-investment program
00:33:27 - Evaluating Investment Decisions and Portfolio Alignment
00:35:53 - Building Strong Relationships with VCs and Angels
00:37:36 - The SME Tech Gap: Automation and Sustainability
00:41:32 - The Value of Domain Expertise and Networks
00:43:13 - Portfolio Construction and Ticket Sizes
00:45:04 - Optimizing for a balance between Upside Potential and Risk
00:47:15 - On ownership Target Flexibility
00:51:03 - Fundraising Plans
Impact investor? Don’t miss this session by Affinity with Pieter Oostlander from Shaping Impact Group to discuss Deal flow dynamics that Empower Impact Investors and dive deep on:
What relationships matter most for impact investing
Ways to manage risk and risk-averse networking
How to utilise Affinity to manage day-to-day deal flow in one place
VC/LP Pitch Session between Marc Penkala of Altitude & Michael Sidgmore of Broadhaven Ventures