I have to say... I'm slowly understanding the desire to deliver the big deal. More and more over the past two years, beginning with my work on some pretty large secondary portfolios, I've been working more directly on the investment side than the portfolio analysis and reporting side. Last month, I basically ran with a buyout co-investment and managed the whole process with the team, since the two PMs on the deal were in San Fran and London when the work was being done. Now, a late stage venture deal that I think is pretty interesting has come across my plate and I'm itching to see it through--but not just see it though, but to introduce to company to GM and every single direct investment we have in our portfolio. I'm excited about the possibility of really driving the value creation in something and I see the allure of being a GP and doing this whole networking thing. I won't deny that it doesn't pique my interest, even though I've been saying that working on partnerships--and assessing other people's investment strategy is much more interesting to me. Its interesting, but probably not as exciting.
Along those same lines, Marcy and I are going to be out on the west coast knocking on the doors of some of these hard to get into venture firms. Some of them we actually have good connections to, but other ones... its basically like cold calling. And yet, we don't even know if these are the groups we want to get into. Half the time, its word of mouth, or evidence from one big deal. It will be my second business trip out to the west coast... the first being the LA ILPA conference couple with some visits to some consumer focused buyout firms. However, it will be the first big step in this whole Stanford plan I've got--the idea being that I'd go out to grad school in Fall '05 and perhaps source, or at least track, venture deals for GM (or whatever entity we'll be by the time that happens) while I'm out there. I haven't been out to the Bay Area on business before--hopefully it will be a foreshadowing of things to come.