Fwiw, the better LPs that I've met have been saying for awhile now that thesis/sector driven funds outperform geographic focused funds.http://bit.ly/2LXxFbg
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Meaning a fund should be fully agnostic in terms of both sector and geographic focus?
I think so. Focusing on x means if you encounter a promising startup that's ~x, you turn it down.
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I get it. Doesn't that assume though that a firm has the bandwidth to understand deals in all possible sectors and geographies?
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The earlier the stage the more that's possible, because the earlier the stage the more it's all about the founders.
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