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Swimming with Allocators

Earnest Sweat, Alexa Binns
Venture Capital
Emerging Managers
Private Equity
Investment Strategies
Family Offices
Impact Investing
Limited Partners
Private Markets
Artificial Intelligence
Opportunity Funds
Portfolio Construction
Co-Investments
Angel Collective
Asset Allocation
Diversity In Venture Capital
Startup Ecosystem
AWM Capital
Investment Strategy
Risk Management
Secondary Market

Swimming with Allocators dives into the intriguing world of Venture Capital from an LP (Limited Partner) perspective. Hosts Alexa Binns and Earnest Sweat are seasoned professionals who have donned various hats in the VC ecosystem. In each episode, we explore where the future opportunities lie in the VC landscape with insights from top LPs on their investment strategies and industry experts sheddin... more

PublishesWeeklyEpisodes98Founded3 years ago
Number of ListenersCategories
EntrepreneurshipBusinessInvesting

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Artwork for Swimming with Allocators

Latest Episodes

This week on Swimming with Allocators, Alexa Binns and Earnest Sweat talk with Avivar Capital Co-Founders Lisa Richter and Tina Castro about how they built an impact investing firm focused on aligning capital with social and environmental outcomes. T... more

This week on Swimming with Allocators, Juan Diego Briceno (JDB) shares his journey from New York private banking and Latin American wealth management to building and spinning out Pomifer Capital, an “extension of family office teams” focused on priva... more

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This week on Swimming with Allocators, Earnest and Alexa chat with Regina Green as she shares her journey from growing up as “the different one” in Georgia to spending 17 years at Goldman Sachs and leading the Launch With GS initiative focused on cha... more

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This week on Swimming with Allocators, Earnest and Alexa welcome Charlotte Zhang, Senior Portfolio Manager at Inatai Foundation. Charlotte shares her unconventional path from tech investment banking into LP life, her work at Inatai Foundation, and ho... more

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Recent Guests

Anthony Giambrone
Partner at StepStone Group, former Greenspring Associates executive
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Zach Ruchman
HB Wealth portfolio construction for high net worth families across private markets
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Marcia Mitchell
Investor with Mesa Lane Capital; former FF Venture Capital and New York Ventures
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Episode: Built for Venture: Problem-Solving Meets People Work
Iliana Oris Valiente
Managing Director at Accenture; LP advocate; founder of Capital Decoded
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Episode: The New Rules of Venture: What Next-Gen LPs Should Know First
David Clark
CIO of Vencap International, with extensive experience in the venture capital field
Vencap International
Episode: Inside VenCap’s Data-Driven Playbook for Venture Returns
Megan Reynolds
Leader at a major private equity firm, focusing on capital formation and LP-GP relationships.
Episode: SWA’s Best of 2025 (Part 2)
Joshua Berkowitz
A family office investor focusing on venture capital
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Jason Howard
Founder of New Catalyst Strategic Partners, focusing on private equity and growth equity.
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Elizabeth Egan
Director at TIFF with nearly 15 years of investment experience both as an LP and GP.
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Hosts

Alexa Binns
Host of Swimming with Allocators; co-host deeply engaged in venture capital discussions with a focus on LP perspectives and fund dynamics.
Earnest Sweat
Co-host and frequent co-host focusing on LP perspectives, fund dynamics, and practical VC insights.

Reviews

4.8 out of 5 stars from 31 ratings
  • Top venture capital investing insight

    Swimming with Allocators takes a deep yet easy to understand and enjoyable approach to the twists and turns, guests and guesses, of venture capital investing🐊

    Apple Podcasts
    5
    rbtrage
    United States2 years ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Thoughtful LP-focused VC analysis with practical takeaways for investors.
High-quality guests and candid discussions on fund formation and LP-GP dynamics.
Strong emphasis on data-driven approaches and authentic storytelling in VC.

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Talking Points

Recent interactions between the hosts and their guests.

What LPs Want and GPs Need to Hear
Q: Do you mind just rattling off for folks everything that you could include in that infrastructure in the firm building?
Regina details the full infrastructure needed to form and run a GP, including entities, legal docs, hiring, fund administration, tax accounting, audits, tech, and the broader team and back-office resources; emphasizes the chicken-and-egg problem of funding firm-building activities before LPs and fees materialize.
Rethinking the Venture Co-Investment Playbook
Q: What do you think is most misunderstood about venture co-investing?
Co-investing in venture is much more fluid and slower to materialize than in private equity; LPs should not expect ready-made co-investments or uniform terms, and instead should focus on building strong, early relationships with top GPs to access timely opportunities while accepting that some rounds will be preempted or move quickly.
Built for Venture: Problem-Solving Meets People Work
Q: What governance or back-office innovations are happening with founders' employment agreements and board dynamics?
The guest outlines shifts toward more sophisticated governance provisions, milestone-based vesting, longer vesting horizons, and more precise severance and restrictive covenants, plus solutions to founder entrenchment that decouple board seats from employment status and improve transition readiness.
Built for Venture: Problem-Solving Meets People Work
Q: How is Mesa Lane differentiated from other fund-to-funds and what is their model with LPs and GPs?
Mitchell describes Mesa Lane as capital partners and co-builders who encourage LPs to invest directly or co-invest, do not charge carry at their level, and facilitate close relationships and thorough diligence through a platform that surfaces opportunities and fosters transparency among LPs and GPs.
Built for Venture: Problem-Solving Meets People Work
Q: There's a question right now of like, are we capped out on emerging managers and does it work in venture? Why emerging manager programs today in this market?
Mitchell explains that there is ongoing interest in emerging managers due to the maturation of the industry and a push from seed-focused funds, with a shift toward more non-traditional backgrounds; the approach now values adaptability, collaboration, and a merit-based evolution in the space, rather than assuming suboptimal outcomes, while emphasizing thoughtful allocation and alignment with LPs and the broader market.

Audience Metrics

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Frequently Asked Questions About Swimming with Allocators

What is Swimming with Allocators about and what kind of topics does it cover?

A data-angled look at venture capital from an LP perspective, with in-depth conversations about fund dynamics, underwriting challenges, and how data, networks, and authenticity shape investment decisions. Episodes frequently spotlight how LPs evaluate managers, how emerging funds gain traction, and how capital formation, due diligence, and portfolio construction are evolving in a landscape dominated by power-law outcomes and AI-driven insights. Noteworthy angles include data-driven investment playbooks, the human side of investing, and practical guidance for navigating VC ever-shifting incentives and structures, making it a strong fit for practitioners, founders seeking LPs, and sponsors looking for nuanced industry perspectives.

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How many episodes of Swimming with Allocators are there?

Swimming with Allocators launched 3 years ago and published 98 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on Swimming with Allocators?

Recent guests on Swimming with Allocators include:

1. Anthony Giambrone
2. Zach Ruchman
3. Marcia Mitchell
4. Iliana Oris Valiente
5. David Clark
6. Megan Reynolds
7. Joshua Berkowitz
8. Jason Howard

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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