Starting an investment business - Page 18

We have our first big meeting with two potential investors for the fund on Sunday. Knowing their net worth, anything between $200k and $1mil is possible from this meeting, but perhaps even more exciting is that they're interested in taking a small profit-sharing stake in the company in exchange for fundraising activity on our behalf. They're both very well-connected and have lots of investor friends/partners, so I'm pretty pumped. Wish us luck!

We just raised our first $200,000! 10% to goal!

Thanks!

Hit a new high watermark today: 19% return since inception almost 7 months ago.

Hopefully we break the 20% threshold this week, as we have an important fundraising meeting on thursday.

It's funny -- I went back through this thread and read the whole thing, and boy did I not know what the fuck I was doing/getting into when I first started this process. And I'm sure I'll be saying the same thing again six months down the road.

Still, I have to say, for anyone thinking about striking out on their own -- do it if you have the opportunity. This has been a tremendous time for learning, growth, and experience. Honestly, I was in pretty bad straits, mental-health-wise, when I first moved back to LA a year ago, and this project has largely been responsible for pulling me out of my worst moments. It's taught me that I can work hard with only internal motivation, I've learned tremendously about finance and running a business (although obviously still a total novice in an absolute sense), and I'm proud of myself and my co-founders for the dedication and follow-through we've demonstrated.

All in all, it's been a pretty life-affirming experience that has really boosted my confidence and happiness, and I think has taught me a lot (including how much I still have to learn).

And through it all, this thread has actually been a genuinely nice, supportive place, and I'm thankful for all the interest and support you guys have shown.

Yesterday we got our foot in the door with one of the largest hedge fund seeders out there: Larch Lane Advisors. They're a 1.5bil fund of funds that focuses on emerging managers and seeding new funds -- and it looks like they may want to run us through their due diligence process. If, at the end of that 3-6 month process, they like what they see, we would receive an investment from them in the range of 75-100mil.

Pretty sure the odds are quite steep on this, but hey, I'll take any shot I can get.