Stephen Bluestein has had an impressive career in Venture, beginning at Bessemer Venture Partners before moving to TCV, Light Street Capital, and the David and Lucille Packard Foundation, before landing in his current role as a partner in the primary investment team at Adams Street Partners. He sits down with Beezer Clarkson, LP at Sapphire Partners, to discuss what makes a fund a franchise. They discuss the importance of building and maintaining a brand that stands for something in the market, making investments that are consistent with your philosophy, and together, they zero in on the tipping point of when a fund can be officially considered a franchise.

Learn more about Sapphire Partners: <a href="https://sapphireventures.com/sapphire-partners/" rel="ugc noopener noreferrer" target="_blank">sapphireventures.com/sapphire-partners</a>
Learn more about OpenLP: <a href="http://openlp.vc" rel="ugc noopener noreferrer" target="_blank">openlp.vc</a>
Learn more about Asylum Ventures: <a href="http://asylum.vc" rel="ugc noopener noreferrer" target="_blank">asylum.vc</a>
Learn more about Adams Street Partners: <a href="http://adamsstreetpartners.com" rel="ugc noopener noreferrer" target="_blank">adamsstreetpartners.com</a>

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CHAPTERS:
0:00-Welcome to Origins2:15-Digging into Franchise Funds: Stephen’s Background
6:48-What Defines a Franchise?
15:30-How Long Does it Take to Become a Franchise?
21:06-The Minimum Viable Performance Metric to be Considered a Franchise
27:13-Pivoting From One Exceptional Fund into a Franchise
33:21-How to Inculcate Exceptionality
39:55-Diligencing Franchise Funds
45:28-“Know Thyself”: A Message for Aspiring Franchise Funds

Elizabeth Clarkson

Franchise Funds: Becoming (and Remaining) One with Stephen Bluestein

Stephen Bluestein has had an impressive career in Venture, beginning at Bessemer Venture Partners before moving to TCV, Light Street Capital, and the David and Lucille Packard Foundation, before landing in his current role as a partner in the primary investment team at Adams Street Partners. He sits down with Beezer Clarkson, LP at Sapphire [&hellip;]

Origins - A podcast about the LP and VC ecosystem Episode #95

Franchise Funds: Becoming (and Remaining) One with Stephen Bluestein