Operational Due Diligence Like You've Never Seen Before | Evan Finkel | Superclusters | S3E4

“In venture, we don’t look at IRR at all because manipulating IRR is far too easy with the timing of capital calls, credit lines, and various other levers that can be pulled by the GP.”

Evan currently serves as Head of Venture Capital Investments and Research for Integra Global Advisors, a multi-family office. Prior to Integra, Evan served as Senior Manager of Data Science for Anheuser-Busch InBev where he oversaw data science and strategy for the US marketing organization. Prior to Anheuser-Busch, Evan spent two years as a Management Consultant at Marketing Management Analytics and held a technical role at Amazon. Evan earned an MS in Computer Science with a concentration in machine learning from Georgia Tech and studied computational and applied mathematics at the City University of New York and finance and psychology at the University of Miami. You can find Evan on his socials here: LinkedIn: https://www.linkedin.com/in/evanfinkel/ And huge thanks to this episode's sponsor, Alchemist Accelerator: https://alchemistaccelerator.com/superclusters

OUTLINE:

[00:00] Intro

[03:27] What are the mechanics of a great cold email?

[07:54] Evan's background in sports marketing

[10:54] The kinds of data to ignore as an LP

[13:01] Portability and replicability of track record

[19:57] How much thesis drift is too much?

[22:37] What happens when a partner isn't pulling their weight?

[29:35] Why does Evan have two bachelor degrees?

[34:38] Why study quantum mechanics in applied math?

[38:25] Evan's journey to Integra

[45:21] Buy vs Build at a fund-of-funds

[47:40] Questions to ask when choosing which vendor to work with

[51:24] How Evan thinks about operational diligence

[58:30] Setting up an information policy in your firm

[1:01:39] Valuation policy at a hedge fund vs VC fund

[1:11:12] Why doesn't Integra have strict mandates for geographies to invest in?

[1:21:20] The fallacy with LPs overweighing DPI in 2020-2021

[1:27:15] Evan's greatest life lesson

[1:28:14] Evan's favorite kosher restaurants in NYC

[1:32:07] "Post-credit scene"

[1:34:24] Thank you to Alchemist Accelerator for sponsoring!

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