Those of us in venture capital also have bosses called Limited Partners (LPs) who are the folks we raise our funds from. As a fund manager, it is important that we find investors that believe in our vision of the future and our investing thesis. Our guest today is Dave Sachse , Founder and Managing Partner of the Sachse Family Fund , which does direct investments in early-stage companies as well as being an LP in venture capital funds. In today’s episode, we chat with Dave about how family offices are navigating the venture market and how they think other emerging venture funds should be deploying capital. About Dave Sachse: Dave Sachse is an investor and entrepreneur with experience as a software product manager, startup founder, business development leader, and community builder. In addition to technology investing in the private and public markets, Dave is passionate about demystifying VC as an asset class and democratizing wealth generation. A word from our sponsor: At Ripple, we manage all of our fund expenses and employee credit cards using Jeeves.  The team at Jeeves helped get me and my team setup with physical and virtual credit cards in days. I was able to allow my teammates to expense items in multiple currencies allowing them to pay for anything, anywhere at anytime. We weren’t asked for any personal guarantees or to pay any setup or monthly SaaS fees. Not only does Jeeves save us time, but they also give us cash back on our purchases including expenses like Google, Facebook, or AWS every month. New users can earn up to 3% cashback for their first 90 days. The best part is Jeeves puts up the cash, and you settle up once every 30 days in any currency you want, unlike some other corporate card companies that make you pre-pay every month. Jeeves also recently launched its Jeeves Growth and Working Capital initiative for startups and fast-growing companies to enable more financial freedom for companies. The best thing of all is that Jeeves is live in  24 countries including Canada, the US and many other countries around the world. Jeeves truly offers the best all-in-one expense management corporate card program for all startups especially the ones at Ripple and we at Tank Talks could not be more excited to officially partner with them. Listeners of Tank Talks can get set up with a demo of Jeeves today and take advantage of our Tank Talks special with a‍ $250 statement credit after the first $2,500 in spend or a $500 statement credit after the first $5000 in spend. Lastly, all Jeeves cardholders receive access to their Lounge Pass program and access to over 1300 airports globally. Visit tryjeeves.com/tanktalks to learn more. In this episode we discuss: 02:25 Dave’s journey into tech 04:49 Origins of the family office from the family business 07:00 How Dave got his start in VC investing 07:41 Types of companies that the Sacshe Family Fund Invests in 08:53 The process of determining their investment thesis 10:27 What their investment committee looks like and their due diligence process 11:52 Assessing emerging managers and using quantitative and qualitative methods 14:22 The timescale of VC investing and working with managers 16:40 Dave’s view on GP commits 19:59 Better metrics than IRR and MOIC to judge funds and managers 23:17 LPs asking to delay capital calls 25:32 Have we hit the bottom of the market and what does the near future hold 28:07 Dave’s approach to the current market 29:23 Why you should avoid pay-to-play pitch scenarios as a manager 33:11 Biggest lessons from being an investor Fast Favorites: 🎙- Favorite Podcast: Venture Unlocked 📰- Favorite Newsletter/Blog: Fred Wilson 📲- Favorite Tech Gadget: One Wheel 📈-  Favorite New Trend: It doesn’t matter where you live 📚- Favorite Book: Democratizing Knowledge by Elizabeth Yin and Hung Pham 🤔 - Favorite Life Lesson: Build upon your failures. Follow Matt Cohen and Tank Talks here! Podcast production support provided by Agentbee.Agency