For sub $10MM fund manager hoping to scale fund size to 3-5x next go around,2 things inst.LPs look will look at closely are 1) Portfolio construction ability (where/how you follow-on) and 2) check sizes that are large enough to evidence real/perceived brand/value-add
When you hire you have to decide if you want to optimise for experience, raw ability or mindset. Very rare you will get all 3. Answer for me depends on the role but frequently it’s
1 Mindset
2 Raw ability
3 Experience.
As general rule I think experience is overrated