How I Invest with David Weisburd

E331: Ron Biscardi, CEO of iConnections on the Biggest Mistakes Managers Make

Mar 23, 2026
Guest
Ron Biscardi
Ron Biscardi, co-founder and CEO of iConnections who scaled a charity event into a global capital-introduction platform. He discusses how relationships and patience win capital, the shift toward deal-by-deal vehicles and SMAs, why LPs prioritize business risk over returns, and how humility, transparency, and network effects drive fundraising and platform growth.
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INSIGHT

Capital Flows To Relationship Driven Managers

  • Capital is abundant but follows long relationship-driven sales cycles in private markets.
  • Ron Biscardi says billions flow after events over 12–24 months once LPs trust GPs with illiquid commitments.
INSIGHT

Shift Toward SMAs And Deal By Deal Allocations

  • LPs prefer SMAs and deal-by-deal structures because they reduce pooled-vehicle governance and liquidity concerns.
  • Ron notes SMAs get custodied in the LP's name and provide a safety valve that many value despite GP admin burdens.
ADVICE

Prepare For Years Long Fundraising Cycles

  • Expect multi-year sales cycles if you're sub-$300M AUM and prioritize repeat at-bats with the same LPs.
  • Ron recommends attending multiple events to build trust; one-off appearances have low success rates.
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