Archive — US — techcrunch
Brian Singerman’s new fund has a twist, and Peter Thiel as a backer
Brian Singerman and Lee Linden are launching a $500 million fund named GPx, backed by Peter Thiel. The fund aims to invest 20% in early-stage VCs and the rest in co-leading later-stage investments of emerging managers' top companies, using a fund-of-funds model. This strategy contrasts with traditional VC operations and seeks to enable emerging funds to maintain ownership in successful startups during later funding rounds.
Key points
- Brian Singerman and Lee Linden are founding GPx.
- The fund targets to raise over $500 million.
- Peter Thiel, co-founder of Founders Fund, is a key backer.
- GPx will allocate 20% of capital to emerging VCs and the rest for later-stage investments.
- The fund adopts a partially fund-of-funds model, different from typical VC processes.
- GPx aims to assist early-stage VCs in retaining stakes in successful companies.
Why it matters
- Venture capital landscape indicates a shift as smaller funds emerge, diverging from large, traditional firms.
- Fund-of-funds models have seen decreased popularity, yet GPx leverages personal branding and networks.
- Emerging managers are seeking more control and flexibility, responding to changes in investor preferences.
GPx embodies a strategic shift in venture capital, focusing on collaboration with emerging managers to harness opportunities in early-stage investments while addressing the hurdles presented by traditional funding structures.