Joshua Berkowitz

[Joshua Berkowitz @berkowitz_josh]

@Joshuabrowder 🤝

[Joshua Berkowitz @berkowitz_josh]

@WillManidis And @themollette has really taken it to the next level

[OpenLP @Open_LP]

🚨Calling all emerging mgrs! Applications now open to one of the biggest VC EM events of the year: 11/4/26

@EqualVentures' Emerging Manager Circle (EMC) brings EMs together w peers & experienced GPs/LPs to share insights on building enduring venture firms.

🙏TY to this year’s inaugural selection committee of 40 respected GPs and LPs for helping build this community.

🔗Link to apply below!🗽🍎

[Joshua Berkowitz @berkowitz_josh]

@AnjneyMidha 👋

[Joshua Berkowitz @berkowitz_josh]

@endowment_eddie Eclipse

[Joshua Berkowitz @berkowitz_josh]

@pavelprata @justis_mendez Liquid 2 fund 1 is only a 2016 fund and is in Anduril

It’s not done

[Joshua Berkowitz @berkowitz_josh]

@credistick You are implicitly saying you prefer startups:
1. Raise ~$2M upfront, then bridge when they wander/pivot and need time
vs
2. Raise ~$6M upfront and have more opportunity to find PMF (And/or get off VC treadmill)

Don't agree 1 is better

Today's startups also aren't incremental

[Joshua Berkowitz @berkowitz_josh]

@credistick @jonwu_ You can buy SPY. It’s what I do with my liquidity.

[Joshua Berkowitz @berkowitz_josh]

Too early for DPI. A 2017 seed fund invested ‘17 to ‘20, so average dollar invested for ~8 years.

Successful companies will be most of the TVPI, and are still private. This vintage could include Kalshi, Deel, Rippling, Anduril, Ramp, Mercury, Whatnot, Applied Intuition. Lots of great cos. Just takes a while

[Joshua Berkowitz @berkowitz_josh]

@jonwu_ Too early

The other question is how representative of the entire market, Carta's administered 2017/2018 funds are

[Joshua Berkowitz @berkowitz_josh]

@PhilipJohnston @paulg @ycombinator If everyone does this, you pay the series A price?

[Joshua Berkowitz @berkowitz_josh]

@PeterJ_Walker I am blind

[Joshua Berkowitz @berkowitz_josh]

@evansammccann @andrewparker @avarma @withmantle This

[Joshua Berkowitz @berkowitz_josh]

@jakobdiepen @elonmusk 🔥

[Joshua Berkowitz @berkowitz_josh]

@cremieuxrecueil Likely confounded. Regular Botox user is likely more regular about skincare and general health too

[Joshua Berkowitz @berkowitz_josh]

@pavelprata Not surprising when you consider today's seed = series A of 2019

[Joshua Berkowitz @berkowitz_josh]

@maxgazor 1-5% deploy 90% of the capital too. This comment is meaningless

[Joshua Berkowitz @berkowitz_josh]

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