VC is an Important Asset Class for Endowments to Generate Alpha

The Sure Shot Entrepreneur

Miles Dieffenbach, Director of Investments at Carnegie Mellon University Endowment, offers valuable insights, personal anecdotes, and perspectives on the fundamentals of venture capital. He covers topics such as GP commit, navigating the denominator effect, and the broader economic trends that impact the venture capital industry.

In this episode, you’ll learn:

[4:51] How venture capital drives innovation and the crucial role of limited partners (LPs) in this process

[14:25] Factors LPs consider when selecting fund managers

[22:05] Identifying positive signs of fund growth and red flags that LPs watch out for

[27:56] The evolving role of allocators in the future of venture capital and how founders need to rethink what capital and VC relationships mean to them

[32:28] Dive into the ongoing debate surrounding GP commit

The non-profit organization that Miles is passionate about: CMU

About Miles Dieffenbach

Miles Dieffenbach is the Director of Investment at Carnegie Mellon University Endowment He manages the $3.6 billion endowment across a comprehensive global portfolio of all major asset classes, including private equity, venture capital, public equities, hedge funds, real estate, distressed opportunities and fixed income.
Fun fact: Miles initially planned on being a professional footballer. He served as Penn State Varsity Football Captain and had a short stint as offensive guard at Pittsburgh Steelers. He jokingly remarks that he feels like he’s playing a similar role as the director of investments.

About Carnegie Mellon University Endowment

Carnegie Mellon University Endowment is an endowment based in Pittsburgh, Pennsylvania. The fund provides a permanent source of income to support the university's missions. It also provides a stable, predictable, and growing stream of resources for current use in achieving the academic goals of the university, while preserving the purchasing power of the fund for future generations. The investment office evaluates, selects, and monitors current and prospective investments in which to allocate the university's endowment assets. The fund’s assets are managed by the executive management team.

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