E12: Jamie Rhode on Why 95% of LPs Can Only Achieve a 10% IRR when the Mean Return is 50% IRR | Why High Ownership % is Overrated | Investing into First Time Fund Managers The 10X Capital Podcast: The Limited Partner with David Weisburd and Erik Torenberg | Startups, Venture Capital, and Limited

Jamie Rhode, Principal at Verdis Investment Management, sits down with David Weisburd to discuss data-driven investing, compounding returns, Jamie's investing philosophy, and more. We're proudly sponsored by AngelList, visit https://www.angellist.com/tlp if you’re ready to level up your startup or fund.

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Every week investor and writer of the popular newsletter The Diff, Byrne Hobart, and co-host Erik Torenberg discuss today’s major inflection points in technology, business, and markets – and help listeners build a diversified portfolio of trends and ideas for the future. Subscribe to “The Riff” with Byrne Hobart and Erik Torenberg: https://link.chtbl.com/theriff

The Limited Partner podcast is part of the Turpentine podcast network. Learn more: www.turpentine.co
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X / Twitter:
@durationFX (Jamie)
@dweisburd (David)
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LINKS:
Burgiss data https://www.burgiss.com/
Verdis Invesment Management https://www.verdisinvestment.com/
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SPONSOR: AngelList
The Limited Partner Podcast is proudly sponsored by AngelList.

-If you’re in private markets, you’ll love AngelList’s new suite of software products.

-For private companies, thousands of startups from $4M to $4B in valuation have switched to AngelList for cap table management. It’s a modern, intelligent, equity management platform that offers equity issuance, employee stock plan management, 409A valuations, and more.

If you’re a founder or investor, you’ll know AngelList builds software that powers the startup economy. If you’re ready to level-up your startup or fund with AngelList, visit https://www.angellist.com/tlp to get started.
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Questions or topics you want us to discuss on The Limited Partner podcast? Email us at LPShow@turpentine.co
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TIMESTAMPS:
(00:00) Episode Preview
(01:07) Jamie’s data driven approach
(02:20) Using duration as an advantage
(04:37) Jamie’s first principles approach to VC portfolio construction
(07:00) The mean return in venture is 4-5x greater than the median
(10:54) Jamie’s strategy and proprietary deal flow
(15:30) Sponsor: AngelList
(16:50) Comparing Jamie’s philosophy with past guests LPs Michael Kim and David Clark
(19:25) Disciplined investing
(21:20) Jamie’s red flags for GPs
(22:50) Data stack: PitchBook, CB Insights, Burgiss 
(24:00) Ideal GPs
(27:40) Compounding returns
(29:40)What percentage of venture investors are able to access a strategy that results in 25% compounding? 
(30:55) Co-investing with other LPs
(32:43) Other top tier LPs shoutouts
(34:05) Investing in life sciences
(38:00) #OpenLP movement and transparency
(40:10) Who will be the next great GPs?
(44:00) Management fees
(46:00) What Jamie would change about the industry