Edition #6: 41 New Funds, 50-Tip AGM Playbook, A16Z Ecosystem Framework
Hey guys,
This is Pavel and welcome to the 6th edition (October, 2025) of Murph Capital newsletter.
This is my monthly brain-dump of the most useful stuff I’ve come across as an operator in the GP/LP world.
Follow me on X and LinkedIn for more frequent insights.
5 Best Tweets
“Does manager selection actually matter in VC?”
By Pavel Prata from R136 Ventures
“Turning VC into a network effect business”
By David Booth from A16Z
“Investing in hot Seed rounds as a fund manager”
By Jeff Morris Jr. from ChapterOne
“How big will your anchor LP be?”
By Peter Walker from Carta
“Why venture capital should be consensus-averse”
By Dan Gray from Equidam
5 Best Linkedin Posts
“AGM playbook: 50 tips LPs actually respect”
By Pavel Prata from R136 Ventures
“Rethinking “big fund is bad, small is good” in VC”
By Samir Kaji from Allocate
“Goldman Sachs just made a $1B bet on VC by acquiring Industry Ventures”
By Pavel Prata from R136 Ventures
“Mathematical vs. psychological ruin in VC: the case for a broad portfolio“
By Steve Kim from Verdis Investment Management
“11 Reasons why I believe LPs should consider investing in Emerging Managers“
By Benedikt Langer from TOV Lending
5 Best Reports / Stories
“Allocator’s Notebook: Union Square Ventures Funds I-III, 2004-2015“
By Yavuzhan Yilancioglu from Hummingbird Ventures
“Why Venture Needs More Courage (and Less Conformity)”
By Nicholas Chirls from Asylum Ventures
By James Health from dara5
“The Big Book of Venture Capital – Q3 2025 Edition”
By Rohit Yadav from All Things VC
By Kyle Harrison from Contrary
41 New VC Funds
View all other funds by clicking the button below.
Fund Chronicles
Fund Chronicles #6: Insight Partners
How two investors hired college grads to cold call startups and built a $90B empire with 55+ IPOs.
Emerging Managers Interviews
Solo GP Sheena Jindal just raised $32M inaugural fund to back MIT founders. I asked her 10 questions about how she did it 👇
34 VC/LP Events
3 Best Podcasts
Alfred Lin joined Sourcery podcast to dive into what separates truly great founders (OpenAI, Airbnb, DoorDash) from the rest. He talks about how Sequoia backs conviction at the earliest stages, why they’re still obsessed with quality over quantity, and what fund concentration looks like when you actually do it, not just talk about it. A few days later, Molly O’Shea dropped the 2nd episode featuring Alfred – another conversation full of valuable insights and perspectives.
Another great episode: Thrive’s Vince Hankes gets real about what it takes to actually concentrate capital around generational companies (OpenAI, Stripe, SpaceX). He breaks down Thrive’s thinking on risk and uncertainty (a recurring theme for LPs), why not all “AI” bets are created equal, and how fund managers should think about picking winners when the stakes and entry prices are high.
And lastly – Superclusters episode with Trish Spurlin. She explains how endowment strategy shifts from $80M to $800M to $8B and why Babson bets big on venture (70% of PE), when to build in-house vs. rely on outsiders, and how LP/GP relationships and diligence really work at scale.
Personal Notes
Q1 2026 Community Launch. We’re building an infrastructure community exclusively for fund managers and LPs – 150+ already on the waitlist. Launching Q1 2026, it’s designed to foster GP-LP dialogue and provide essential resources for fund building and better investments. Want to join or share ideas? Join the waitlist.
Webinar: 2026 AI & Tech Trends. Next month, R136 Ventures is hosting a webinar covering key highlights and trends for 2026 – AI adoption, infrastructure evolution, agentic AI, investment flows, and emerging opportunities. Register here.
We’re Hiring: Junior Content Manager. As we scale, I’m looking for someone to help grow the Murph brand. Great opportunity to break into VC and connect with hundreds of funds and LPs. Apply here.
Live Pitch Engagement. This month I spoke at the largest event for Russian-speaking entrepreneurs in Chicago, diving into the hidden world of LPs. Great experience presenting live to a big audience of investors and sharpening my stage presence for bigger pitches ahead. More speaking gigs coming soon.
Chicago Events (Late 2025). We’re hosting a couple of VC/LP events in Chicago by year-end. If you’re in town or visiting early December, sign up here. Planning an intimate dinner (20 carefully selected GPs/LPs) – details coming soon. I’ll also be at the VC/LP mixer on Nov 12. Let’s connect!
Previous Editions
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