We dive deep into our sectors. Our research drives our insights and thesis-driven approach.

As global temperatures rise, ironically, so are energy costs. These days, retail electricity prices are rising at their fastest rate since 2008 — largely spurred by spiking natural gas costs. Never a group to let a good crisis go to waste, innovators are responding to the challenge with a surge of financing for virtual power plants (VPPs) and distributed energy resources (DERs).

Last month, we hosted roughly two hundred of the most influential capital allocators in the venture industry for the first ever Emerging Manager Circle Summit. Despite the general fear of a recession looming, the optimism around the emerging manager landscape was pronounced. And why wouldn’t it be?

As many of you know, we’ve been looking for an InsurTech “co-pilot” for nearly a year. This was an incredibly difficult hire. While we have a deep passion for insurance, it’s not as heavily pursued amongst younger talent, perhaps more tempted by crypto and other buzzier thesis areas. Having interviewed dozens of candidates, we struggled to find someone who had the cerebral horsepower and passion for insurance that we required for this role.

We’re kicking off our 2023 Spring intern recruiting process and this year we’re looking to bring on a few team members to support across 2 of our core focus areas: Supply Chain & Climate. Our Spring interns work with our investment team to research specific industry themes and analyze investment opportunities in support of our thesis-driven approach.

While “moats” is a word tossed around venture circles a lot, we often think it’s misunderstood. What others may see as a moat, we may more earnestly see as “stickiness” or “defensibility” rather than as an outright moat. As we wrote about in “What is a “Moat” and why does it matter?”, we define moats as “Proven, perpetuating and permanent unit economic advantages from peers within a competitive set”.