Leading Indicators

RAISE 2023 Global Summit: What Does the Applicant Data Say About Team Structure & Geographies? (Part 3)

August 18, 2023

RAISE 2023 Global Summit: What Does the Applicant Data Say About Team Structure & Geographies? (Part 3)

By Ben Black, Akkadian Ventures 

In our first article in this series, we took a look at the data from the RAISE 2023 Global Summit's GP applicant pool and their financial metrics. In Part 2, we identified year-to-year shifts in investment focus among the applicants.

In this article, we’ll look at changes in team dynamics across funds, as well as geographies.

While team composition is roughly the same as last year, we are seeing an increase in the number of operator-led funds.  We also registered a slight downturn in applicants with a history of angel investment.

Looking at the composition of firms, we observed a decrease in funds with a single partner, and a modest contraction in those comprising two to three partners. In contrast, we noted a remarkable increase in funds with more than four partners. The data suggests that funds are strategically expanding their partnership rosters to navigate the evolving landscape.

We also took a look at our fund applicant geographies. This year, we saw an increase in East Coast applicants and fewer international applications.

This year has presented us with intriguing shifts in the landscape of funds, but we’re not done yet. Watch for Part 4 of the data series where we’ll look at an analysis of diversity within our applicant base.

We invite our LPs to join us at RAISE to meet these remarkable new managers. Ready to embark on your own unicorn hunt at the 2023 RAISE Global Summit?

Click here to request an invitation.



The Tipping Point Series, including Leading Indicators articles, (“Tipping Point”) is a collection of interviews with fund managers who (a) have previously raised a venture capital fund and (b) are providing advice and insights into the formation and management of venture capital funds (the “Presentations”).  Tipping Point is not an offer to sell or a solicitation of an offer to buy any security issued by any venture capital fund, including without limitation, any venture capital fund managed by Tipping Point’s speakers, presenters, or producers. 

The Presentations do not (a) provide investment advice with respect to any security or (b) make any claim as to the past, current, or future performance of any security or venture capital fund, and Tipping Point expressly disclaims the use of the Presentations for such purposes.  The Presentations are not intended to constitute legal, tax, accounting, or other advice or an investment recommendation. Prospective fund managers should consult their own advisors about such matters with regard to their venture capital funds.  Raising a venture capital fund involves significant risk of loss of income and capital, including loss of the full amount raised and invested, which may occur as a result of identified or unidentified risks.

Tipping Point is produced by Raise Conferences, LLC (“Raise”).  Raise is a private invite-only venture capital conference, which provides a forum for venture capital funds to network with and present to potential venture capital investors.  Although Raise produces Tipping Point, the Presentations are independent of Raise’s conference and do not provide any forum for the Tipping Point speakers, presenters, or producers to solicit the sale of any securities.

Ben Black
Ben Black is a Co-Founder and Managing Director of Akkadian Ventures and a 20-year venture capital veteran. He is also the Founder of RAISE Global.

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