Funds that Won

Эпизоды

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  How We Built a $1B platform across 4 funds | Greg Warnock, Mercato Partners 07.07.2026 59мин

  How do you build a private equity firm that thrives for nearly 20 years?In this episode of Funds That Won, Lincoln sits down with Greg Warnock, Founder and Managing Director of Mercato Partners, to discuss the journey from launching a $52 million first fund to managing a $1B platform across 4 funds.Greg shares the story behind Mercato’s founding, the lessons he learned from building multiple investment firms, why disciplined growth investing has remained effective for nearly two decades, and how artificial intelligence is reshaping the future of private markets.The conversation covers fundraising, institutional LP relationships, portfolio construction, AI investing, succession planning, and invaluable advice for emerging fund managers preparing to raise their first fund.Whether you’re an emerging manager, venture capitalist, private equity professional, or simply interested in how successful investment firms are built, this episode is filled with practical insights from one of the industry’s most experienced investors.In this episode you’ll learn:• How Mercato Partners grew from a $52M first fund to a $1B platform across 4 funds• Why Greg believes staying disciplined beats constantly chasing larger fund sizes• His framework for evaluating AI investments in today’s market• How institutional investors think about fund managers and portfolio construction• The biggest fundraising lessons every emerging manager should know• Why your first investments can define the future of your firm• The importance of understanding what limited partners actually want before raising capital• Greg’s perspective on succession planning and building a firm that lastsIf you enjoyed this conversation, be sure to like the video, subscribe to the channel, and turn on notifications for more interviews with leading fund managers, investors, and entrepreneurs.#PrivateEquity #VentureCapital #GrowthEquity #MercatoPartners #ArtificialIntelligence #AI #FundManagement #EmergingManagers #Investing #FundsThatWon
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  The Mindset Emerging Fund Managers Need to Win | Matt Spielman | Ep 64 10.06.2026 40мин

  In this episode of Funds That Won, Rylan Olson sits down with Matt Spielman, founder and head coach at Inflection Point Partners.After nearly 6,000 coaching sessions with hundreds of elite fund managers, Matt shares what separates successful emerging managers from the ones who struggle to scale.They discuss the mindset required to raise capital, how to build a long-term vision, why your “why” matters, when to bring on team members, and how fund managers can push through rejection, uncertainty, and the loneliness that comes with leadership.Topics Covered: • The mindset of elite fund managers • How to build a long-term vision for your firm • Why capital raising requires resilience • When solo GPs should start building a team • How to hire the right people • Why fundraising is more than just having a great strategy • How emerging managers can navigate rejection and stay focusedLearn more about Matt Spielman and Inflection Point Partners in the links below.Linkedin: https://www.linkedin.com/in/mattspielman/
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  The $200 Billion Secondary Market | Chris Lawrence | Ep 63 17.03.2026 42мин

  In this episode of Funds That Won, Rylan Olson sits down with Chris Lawrence, founder of Labyrinth Capital, to break down the rapidly growing secondary market in private equity.With over $13 trillion now sitting in private markets, liquidity has become one of the most important topics for both GPs and LPs. Chris explains how the secondary market evolved, the difference between LP-led and GP-led transactions, and how emerging fund managers can use secondaries to create liquidity for their investors.The conversation also dives into the realities of launching and scaling an investment firm, the importance of relationship capital, and why emerging managers should stay disciplined in their niche instead of chasing scale.If you’re building a fund or investing in private markets, this episode gives a practical look at how the $200B+ secondary market is reshaping liquidity and opportunity across the industry.
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  How Emerging Fund Managers Should Build Operations to Scale | Scott MacDonald | Ep 62 17.02.2026 54мин

  In this episode of Funds That Won, we sit down with Scott MacDonald to break down what actually makes investment firms scale—and why operations are often the deciding factor. Scott shares hard-earned lessons from building and advising funds, covering third-party administrator selection, early hires, operational alpha, tech stacks, and where AI is starting to matter (and where it doesn’t). This conversation is especially relevant for emerging and micro fund managers looking to build durable infrastructure without over-hiring, over-buying tech, or breaking under growth.
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  Why Private Markets Are Entering the Wealth Channel | Franklin Templeton | Tony Davidow | Ep 61 03.02.2026 47мин

  In this episode of Funds That Won, we sit down with Tony Davidow of Franklin Templeton to break down how private markets are moving beyond institutions and into the wealth channel. We unpack why the traditional 60/40 portfolio broke down, how evergreen and tender offer funds are changing access to private equity and private credit, and which asset classes have the strongest tailwinds today. Tony also shares insights from decades working with family offices, institutions, and advisors—and explains why private markets are still in the early innings for individual investors.
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  Southview Timberland: Scaling a Fund from Dirt, Trees, and Vision: Ep 60 20.08.2025 22мин

  In this episode of Funds That Won, we sit down with John Bernard of Southview Timberland Investments to uncover how a fund manager turned entrepreneur built a timberland fund in one of the most overlooked asset classes. John shares his journey from Wall Street to launching Southview, the unique economics of timber investing, and how biological growth provides consistent returns regardless of market conditions. We explore land appreciation, harvesting strategies, and the challenges of scaling a fund in such a relationship-driven industry. John also opens up about fundraising lessons, managing risk, and what it really takes to grow a billion-dollar fund in a niche market.
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  Alt St: Making High Finance Accessible To All | Ep 59 04.09.2024 38мин

  You can sign up for free at www.altst.org/?sl=podcast
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  The Future of Private Equity Seeding | Peter Birk | Catalyst Partners | Ep 58 21.08.2024 33мин

  In this episode of "Funds That Won," I sit down with Peter Birk from Catalyst Partners, a subsidiary of Moelis Asset Management, focused on seeding new and emerging private equity managers. Peter discusses the strategy behind Catalyst Partners, which includes backing debut private equity funds with sizable checks ranging from $50 to $100 million. He shares insights into how they support managers through first-close capital and revenue share arrangements, and the importance of talent and grit in building a successful asset management firm. The conversation offers a deep dive into the world of private equity seeding and the challenges and opportunities it presents.
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  A Venture Fund That Invests In Arizona Based Entrepreneurs | AZ-VC | Jack Selby | Ep 57 14.08.2024 47мин

  In this episode of "Funds That Won," Lincoln interviews Jack Selby from AZ-VC, a venture fund focused on supporting Arizona-based entrepreneurs. Jack shares the challenges Arizona startups face in securing Series A funding locally and how AZ-VC aims to fill that gap by leveraging his extensive network from his PayPal days. They discuss the current state of the venture capital market, the importance of timing, and how Jack's deep commitment to Arizona's tech ecosystem drives the fund's strategy. Jack also reflects on the personal motivations and experiences that led him to launch AZ-VC.
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  A $750 Million Fund That Invests In Emerging Food Brands | Andrew Smith | Savory Fund | Ep 56 07.08.2024 59мин

  In this episode of "Funds That Won," I sit down with Andrew Smith from the Savory Fund to discuss their unique investment strategy in the food and beverage industry. Andrew shares how the Savory Fund targets emerging food brands with 5 to 15 units and supports their growth with a robust operating team and dedicated capital. He delves into the fund's success, raising and deploying substantial funds to scale promising brands, and the importance of disciplined investment and active management. Tune in to hear insightful stories and practical advice on navigating and thriving in the dynamic world of food and beverage investments.
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  Investing In Industrial Real Estate | Smart Asset Capital | Brock Mogensen | Episode 55 31.07.2024 39мин

  In this episode of "Funds That Won," I sit down with Brock Mogensen from Smart Asset Capital to discuss the inception and growth of their company. Brock shares how Smart Asset Capital evolved from a property management and brokerage firm into a syndication and private equity business, leveraging existing infrastructure to scale quickly. He delves into their strategic focus on industrial real estate, highlighting the opportunities and returns in this sector. Brock also explains their decision to shift from syndication deals to launching their first fund, aiming to diversify investor risk and capitalize on multiple deals simultaneously.
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  Using Both Funds and Syndications To Build a Multi-Family Empire | Bow Tie Capital | Brent Mott | Ep 54 24.07.2024 41мин

  In this episode of "Funds That Won," I sit down with Brent Mott of Bow Tie Capital, a firm specializing in commercial real estate syndications and funds. Brent shares insights into Bow Tie Capital’s unique approach, including their focus on raising funds from non-accredited investors and their diverse portfolio spanning self-storage, medical office buildings, and affordable housing developments. He also discusses the firm's ambitious goal of managing a billion dollars in assets by the end of the decade. Tune in to hear Brent's inspiring journey from leaving his corporate job to controlling nearly $200 million in assets and his vision for the future of Bow Tie Capital.
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  A Venture Fund Solving America's Most Acute Problems | Narya | Colin Greenspon | Ep 53 17.07.2024 53мин

  In this episode of "Funds That Won," Colin Greenspon from Narya discusses his venture capital firm's unique focus on funding companies addressing critical societal issues like GDP growth, improving American lives, and protecting sovereignty. He explains how Narya prioritizes investments in industrial sectors such as agriculture, energy, and defense, often in overlooked regions like Ohio and Illinois. Colin shares insights into their strategic partnerships, including co-founders JD Vance and Peter Thiel, and their concentrated investment strategy. Highlighting successful investments like a gene therapy company and a faith-based app, he demonstrates Narya's commitment to impactful, long-term investments. Colin also offers advice for emerging fund managers, emphasizing the importance of a clear thesis, a strong network, and genuine conviction in their choices.
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  Behind The Scenes of a $420 Billion Hidden Empire | Ares Capital Management | Ep 52 11.07.2024 16мин

  For today's episode, I sat down and did a winners circle on Ares Capital Management. Ares Capital Management is a major asset manager specializing in private credit, managing over $428 billion, with more than $300 billion in this asset class. Founded in 1997 as a spin-out from Apollo, they quickly grew through acquisitions and went public in 2004. Known for consistent, strong returns and low downside risk, Ares caters to large endowments and pension funds. Despite controversies, such as their handling of PPP loans during COVID-19, Ares remains a leader in the private credit market.Enjoy!
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  Leveraging Capital To Help Immigrant Founders | Nitin Pachisia | Unshackled Ventures | Ep 51 03.07.2024 41мин

  In this episode of Funds That Won, I sit down with Nitin Pachisia from Unshackled Ventures, a fund focused on supporting immigrant founders by managing their immigration processes. The Unshackled team consists of immigrant founders that understand the stress of navigating visas, government agencies, and the intense start-up atmosphere. Nitin explains their unique approach of investing in founder potential rather than business plans, emphasizing early-stage investments. The discussion highlights the importance of maintaining a disciplined investment thesis and following intuition in venture capital.
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  Investing In The Future Through DeFi and Web3 | Michael Swensson | M31 Capital | Ep 50 26.06.2024 47мин

  For today's episode of "Funds That Won," I sit down with Michael Swensson, co-founder of M 31 Capital, a global investment firm specializing in AI and blockchain technologies. Michael discusses the unique investment strategies of M 31 Capital, emphasizing their focus on decentralized finance and Web3 as pivotal elements shaping the future of finance and technology. He provides insights into the firm's growth, highlighting its global team and decentralized operations, which contribute to its dynamic market presence.
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  Behind The Scenes of a $50mm Venture Fund | Kate Beardsley | Hannah Grey | Ep 49 20.06.2024 43мин

  In this episode of Funds That Won, I sit down with Kate Beardsley from Hannah Grey. Kate discusses Hannah Grey's focus on pre-seed and seed investments, emphasizing their commitment to backing customer-obsessed founders who redefine everyday experiences. She provides insights into their investment strategy, highlighting their approach to portfolio construction, cultural trends analysis, and their emphasis on team dynamics and market timing. Kate also shares the story behind the founding of Hannah Grey and offers advice for aspiring fund managers, underscoring the importance of strong partnerships and thorough preparation.
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  The Forgotten Industry of Middle-Market Credit Investing | Arthur Roulac | Three Court | Ep 48 12.06.2024 50мин

  In this episode of "Funds That Won," Arthur Roulac from Three Court discusses their investment strategy, focusing on middle market and lower middle market credit investing, primarily through purchasing discounted loans and bonds. Arthur emphasizes the value in these often overlooked markets, noting the firm's methodical approach to finding opportunities for returns through interest and price appreciation. He also highlights the firm's lean structure, founded in 2012, which manages over $100 million in assets with a small, dedicated team. Lastly, Arthur shares insights on the importance of having a clear point of view, strong partnerships, and the right client expectations for fund management success.
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  Managing 7 Figures At 20 Years Old | Alexis Morgan | Peach State Capital | Ep 47 05.06.2024 32мин

  In this episode of "Funds That Won," we sit down with Alexis Morgan from Peach State Capital, a real estate investment firm based in Atlanta, Georgia. Alexis shares the unique aspects of Peach State Capital, including their focus on providing short-term bridge loans to real estate investors and their competitive advantage of quick transaction execution. Additionally, we dive into Alexis's journey from wholesaling real estate to managing a fund with over six million dollars in investor capital by 20 years old. Alexis discusses the importance of forming strong partnerships, the challenges of fund management, and his vision for scaling Peach State Capital. Finally, she also emphasizes the value of surrounding oneself with experienced mentors and constantly learning to achieve success in the finance industry.
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  Providing Capital To Accelerate The Energy Transition | Kristian Hanelt | Ultra Capital | Ep 46 29.05.2024 40мин

  In this episode of "Funds That Won," Kristian Hanelt from Ultra Capital discusses the firm's unique approach to energy transition investments. He explains that Ultra Capital focuses on businesses that are asset-heavy and execution-oriented, filling a gap between traditional venture capital and large-scale private equity. Kristian shares insights into Ultra Capital's strategy, highlighting their focus on proven technologies like solar, batteries, and electric vehicle infrastructure. Additionally, he emphasizes the importance of mentorship, strong judgment of character, and a disciplined investment approach in achieving success.