I’ve been thinking recently how successful fundraisers stand out and I keep coming back to the importance of clarity and focus. If an LP is to invest, the following must be explicitly established:
- 1.This market represents a great opportunity, right now and for a considerable time;
- 2.This strategy is the most suited to exploiting that opportunity;
- 3.This manager is the most able to successfully execute that strategy.
I thought this was so central to the selection process that I even drew a diagram to illustrate it:
With legally required disclaimers the only exception, I believe these are the first three ideas an LP should see when opening any fundraising materials. These three concepts should inform the content throughout. And that includes the cover.