Capital Allocators – Inside the Institutional Investment Industry Carrie Thome – Nothing Ventured, Nothing Gained at WARF and beyond (Capital Allocators, EP.160)
Oct 19, 2020
Carrie Thome, the former CIO of the Wisconsin Alumni Research Foundation and founder of the venture capital firm NVNG, shares her inspiring journey from small-town Wisconsin to the heights of investment management. She discusses the innovative structure of WARF and its evolution in nurturing university technologies. Carrie highlights her passion for boosting Wisconsin's entrepreneurial scene by connecting local startups with broader venture capital resources. Personal anecdotes about work-life balance and her commitment to impactful investing round out this engaging conversation.
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The Vitamin D Patent
- WARF's initial capital came from licensing a vitamin D patent to Kellogg's, generating $15 million.
- This patent, focused on irradiating food with vitamin D, helped eradicate rickets.
Embracing All-Weather
- WARF transitioned from a traditional, high-volatility portfolio to an all-weather approach.
- This shift aimed for higher returns at the same volatility but delivered lower volatility and good returns.
Alpha Focus
- WARF's investment team focused on alpha generation, separating it from beta management.
- They used derivatives for market exposure and actively managed alpha, seeking long-term value.