50. Venture capital portfolio diversification with Brian Moretta of Hardman & Co and guests

In a slightly different episode, the EIS Navigator host, Brian Moretta, talks about diversification drawing strongly on excerpts from previous guests. Support is supplied by Tom Britton of SyndicateRoom, Sanjeev Gordhan who was then at Newable, Stephen Page of SFC Capital and Paul Tselentis of 24 Haymarket. We start by talking about how venture capital differs from quoted equities and how this leads to a slightly different approach to diversification. In particular, the number of investments required is a lot more than people usually think. We also discuss how to get there, highlighting the differences between VCTS and EIS funds, showing that choosing them is a more balance decision than might seem on first glance. Diversification by stage, sector and over time are also discussed. Each matters when building a portfolio and there isn't a short cut to choosing several investments. As this episode is a bit of experiment, please let us know whether you love it or hate by emailing us at enquiries@hardmanandco.com. Hardman & Co website: https://www.hardmanandco.com/ (https://www.hardmanandco.com/) Asset allocation white paper: https://www.hardmanandco.com/tes-white-paper-how-much-should-clients-invest-in-venture-capital/ (https://www.hardmanandco.com/tes-white-paper-how-much-should-clients-invest-in-venture-capital/) EIS Navigator episodes from which episodes taken: Tom Britton, SyndicateRoom: https://hardmanandco.com/18-systematic-venture-capital-investing-and-radical-diversification-tom-britton-of-syndicateroom/ (https://hardmanandco.com/18-systematic-venture-capital-investing-and-radical-diversification-tom-britton-of-syndicateroom/) Sanjeev Gordhan, Newable: https://hardmanandco.com/11-how-much-to-invest-in-venture-capital-sanjeev-gordhan-of-newable/ (https://hardmanandco.com/11-how-much-to-invest-in-venture-capital-sanjeev-gordhan-of-newable/) Stephen Page, SFC Capital: https://hardmanandco.com/37-state-of-seed-investing-stephen-page-of-sfc-capital/ (https://hardmanandco.com/37-state-of-seed-investing