Venture Capital

FLAG's approach to investing in venture capital takes into account that over-diversification can dilute performance while inclusion of too few underlying funds may result in missing out on a number of "home run" investments in a given cycle.  FLAG seeks to achieve a balance, focusing on (i) franchise funds whose performance is repeatable and sustainable and (ii) emerging fund managers who are backing the next wave of game-changing companies. 

FLAG has been investing in venture capital funds on a global basis since the firm's founding in 1994.  Our investment team has experience investing in and performing diligence on primary partnerships, secondary fund interests and direct opportunities. 

Sector, Stage & Geography

In developed economies, FLAG invests in venture capital funds pursuing information technology and, to a lesser degree, healthcare.  In emerging economies, FLAG looks for managers who are best positioned to capitalize on a particular region's development themes.  In FLAG's commingled fund strategies, we tend to favor managers investing smaller pools of capital in early stage companies; however, we also have experience and relationships with leading late stage venture capital managers.