Chris Douvos – The LP's Perspective from Ahoy Capital, Venture is Eating the Investment World 2

**Ted Seides** (0:01)
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Hello, I'm Ted Seides, and this is Capital Allocators. This show is an open exploration of the people and process behind capital allocation. Through conversations with leaders in the money game, we learn how these holders of the keys to the kingdom allocate their time and their capital. You can join our mailing list and access premium content at capitalallocators.com.
Mark Andreessen from A16Z famously proclaimed a decade ago that software is eating the world. His prophecy has proved prescient. Cloud computing enabled the rapid cost-effective deployment of software, startups flourished, and venture capital returns have been phenomenal. Venture capital is a fascinating investment area whose many days in the sun shine brightest this year. Institutional portfolios with large venture allocations soared to their best year in history. And yet parts of venture are unique in being both efficient and unactionable. Many believe that Sequoia or Benchmark will produce returns at the top of the pack, but there's not much action anyone can take to participate. This mini-series explores the industry, focusing on some favorites of institutional investors who are still investible to those in the loop. Each has a great differentiated story to share and something to prove. That said, this field moves quickly, so as the disclaimer goes, past accessibility is not a guarantee of future capacity.
My guest on the second episode of Venture is Eating the Investment World is Chris Douvos, the founder and managing director of Ahoy Capital, where he invests in early stage venture funds and co-invests alongside his managers. Chris has been a fixture in Venture Capital for nearly two decades and was an early guest on the show back in 2017 That replay is posted in the feed. Our conversation offers an LP's perspective on the venture landscape, covering the current environment, range of players in the early stage and how Chris is navigating the landscape.
Ventures Eating the Investment World is brought to you by Omni. Omni helps private capital investors track and analyze individual deals while providing comprehensive financial and legal insights across their portfolio. It houses the largest database of investment transactions in the private markets extracted directly from executed agreements, including the legal terms, co-investor details, liquidity preferences, valuations and round sizes. With that information, investors can make faster investment decisions, benchmark deal terms, understand market trends and enhance portfolio analytics. Omni's clients include leading venture funds, corporate venture groups, family offices and endowments, including a number of past guests on the show. You can learn more at omni.fund. That's A-U-M-N-I dot fund.
Going into this year, we'd love your help spreading the word about the show. So each week right in this spot, we're going to give you a fun little reason why. I hope you enjoy the show. And if you do, this week, it might be time to go back to the office and talk to your boss. Now, there'll come a time when you have to make small talk in a way that was protected by virtual work. Well, fear not, we have a suggestion. Just before that awkward moment hits in the hallway or the elevator, turn to them and say, you know, I had a chance to listen to the Capital Allocators podcast during the pandemic, and I think you'd really love it. You'll earn a few brownie points for the idea and probably a big bonus next year after they've listened all year long. Thanks so much for spreading the word.