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????這是一種創新，現在需要更多這樣的創新。風投和私募股權公司正處在基金行業重塑的中心，只有最優秀的和最創新的能夠存活下來。 ????當初超級天使投資人開始顛覆早期風投業時，著名天使投資人戴夫?邁克克勒就公開質疑，為什么致力于創新的一個行業如此因循守舊。這里說的是一般合伙人與企業家/投資組合公司的關系，但這個問題也適用于一般合伙人/有限合伙人關系。 ????我們應當看到更多長盛不衰的結構嗎？有限合伙人能對一般合伙人升職事宜進言？重組有限合伙人顧問委員會，讓小投資者的聲音能被聽到？或者，業內專業人士多年來私下考慮又暗暗放棄的數百種方案中的任何一個（因為收取2%管理費和20%的績效費是公認的行業標準）？ ????如果你準備嘗試什么新事物，請告訴我。如果你是一名有限合伙人并想嘗試新事物，也請告訴我。就像我說過的一樣，這些年來一般合伙人/有限合伙人的利益一致得到不斷強化，或許有辦法在不傷害任何一方的情況下進一步拉近雙方聯系。現在，看起來是時候這么做了。 ????譯者：早稻米 |
????That is innovation, and now is the time for more of it. Venture capital and private equity are in the midst of fund shakeouts, where only the best and/or novel are likely to survive. ????Back when the super-angels began disrupting early-stage venture capital, Dave McClure publicly wondered why an industry devoted to innovation was so set in its ways. That was vis-à-vis GP relationships with entrepreneurs/portfolio companies, but the same question applies to GP/LP relations. ????Should we see more evergreen structures? LP input into partner promotions? Restructured LP advisory boards where small investors get a voice? Or any of the hundreds of things that industry professionals have privately considered over the years, only to mentally discard because 2-and-20 is the accepted industry standard. ????If you're trying to do something new, let me know about it. Same thing if you're an LP and want something new. As I said, GP/LP alignment has gotten stronger over the years, but perhaps there are ways to make the bonds tighter without strangling either side. Now seems to be the time to do that. |
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