In the ever-changing world of venture capital, relationships have emerged as a vital cornerstone of success. Allocate’s mission is to modernize investment into venture capital by allowing more people to participate responsibly and with more transparency. Technology has been propelled by venture investments, and while other capital sources have advanced towards democratization, the venture capital space remains largely exclusive to a small proportion of qualified investors. We are committed to improving access to top-tier private alternative investments by fostering a vibrant and engaged community that bridges the gap between family offices, venture capitalists, and technology leaders.
At our inaugural Beyond Summit in May 2023, we built community by convening a highly-curated group of family offices, venture capitalists, and partners for our flagship three-day event. As we gear up for our next Beyond Summit in May 2024, we’ll look back at the 2023 gathering.
Family offices are critical to funding innovation
In 2022, family offices invested $137 billion into venture capital – a pace we anticipate continuing to see. Family offices plan to continue increasing their allocations to alternatives over the next twelve months, according to data from Goldman Sachs.
Most family offices are channeling their investments into VC through fund investments, with 55% opting for this approach compared to 30% investing directly, according to Goldman Sachs. Family offices, as both entrepreneurs and strategic investors, play a unique role in fostering innovation.
Access to the very best venture capital funds has typically been reserved for a select group of institutional investors. At Allocate, we’re changing that. We’re in a moment of creative destruction, where existing systems for investing are decaying and we need to make way for something new.
Looking back at Beyond Summit 2023
With 138 attendees representing 85 family offices and two dozen venture capitalists from 12 countries and 112 firms, Beyond Summit 2023 was a truly global gathering of some of the brightest minds in the investment and technology space. As one attendee put it: “Insights you wouldn’t get anywhere else. Highly relevant conversation topics. Great people. Beautiful setting.”
Beyond Summit 2023 spanned three days, beginning with a day of golf, followed by an elegant dinner, a full day of engaging programming, and concluding with breakfast overlooking the ocean.
The event was hosted at the picturesque Terranea Resort in Palos Verdes, CA, providing the perfect backdrop for networking and meaningful discussions on technology trends, venture capital infrastructure, and investing. Activities ranged from keynote addresses and GP-hosted round tables to unconference conversations, providing a well-rounded experience for everyone.
Navigating the next decade of venture capital, harnessing superpowers, and peer-led sessions
Mark Suster, Managing Partner of Los Angeles’ iconic firm Upfront Ventures, shared his views on how to navigate the next decade of venture capital. Mark took a principles-first approach to investing in the venture asset class, encouraging allocators to identify funds that can demonstrate strong track records in good and tough markets.
The job of a venture capitalist is hard, Mark offered, because investors need to be right about three things: technology, timing, and teams. We are in a particularly difficult moment for venture capital investors because we have just exited an extended tech bull market that ran from 2012 through 2021.
As family offices and wealth advisors seek to build their venture capital portfolios in this environment, one of the challenges they are confronting is over-valued early-stage companies and a lack of discipline by VCs. Mark concluded with his view on the future: venture capital and tech startups remain an attractive investment. Mark shared, “We are in the process of right-sizing now and I believe that quality always rises to the top.”
In a fireside chat with Carter Reum, Co-Founder and Managing Partner of M13, multi-hyphenate media icon, entrepreneur, and investor, Paris Hilton, shared her insights on innovating through technology, generational wealth planning, pioneering personal branding, and navigating parenthood. Paris shared, “I’ve always been ahead of my time – that, mixed with my ADHD – is a superpower that I’ve harnessed in the right way, where I’m constantly thinking of new ideas.”
Finally, the Summit’s “unconference” conversations, our peer-moderated breakout sessions, covered the most critical topics for family offices building their venture portfolios and for GPs evaluating the fundraising landscape. Our 2023 unconference conversations included a focus on the current and future state of the venture capital industry, getting started with your venture strategy, and the details of your venture strategy, including cash flow modeling, evaluating fund managers, LP allocations to emerging fund managers, and prioritizing funds with diverse leadership.
Erin Harkless Moore of Pivotal Ventures and Hana Yang, Co-Founder and CXO of Allocate, led a session on strategies to accelerate capital flow to women and founders of color. Samir Kaji, CEO of Allocate led a session focused on the state of the venture capital market and strategies for evaluating fund managers. Taylor Adams of Belief Partners led a session on how creative destruction provides value beyond financial returns.
We would like to extend our heartfelt gratitude to our partners, whose support played an integral role in making Beyond Summit 2023 a resounding success, including Cresset, Rise Together, Aduro Advisors, Andersen Tax, Grasshopper Bank, Pacific Western Bank, Proskauer, Alston and Bird, Passthrough, Alto, Aumni, Frank Rimerman, Deloitte, Kruze Consulting, SignalRank, Husch Blackwell, Beyer & Kelley, G-P, and Trinet.
Looking ahead to Beyond Summit 2024
Looking ahead, we are thrilled to offer a sneak peek into what's in store for Beyond Summit 2024. This will be an opportunity for forward-thinking individuals and organizations to come together. We’re in a period of enormous change in the private markets with high interest rates, a reset on valuations, and the evolving impact of artificial intelligence on the asset class. At Allocate, we believe we’re in an era of enormous opportunity. We take the long view on the innovation economy.
Historically, the most transformational companies have been founded during market dislocations. We believe that in times of uncertainty, insight and conviction are critical to seizing opportunity. Our team is excited to host Beyond Summit 2024 – bringing together 100 leading family offices, venture capitalists, and technology leaders – to shape the future of innovation and venture capital.
“Insights you wouldn’t get anywhere else. Highly relevant conversation topics. Great people. Beautiful setting.”
Beyond Summit 2024 will take place from May 22 to May 24, 2024 at the stunning Resort at Pelican Hill in Newport Beach, California. Beyond Summit is where innovation, insights, and community converge, and we look forward to welcoming you for another unforgettable experience.
We invite you to visit our website to learn more and apply to join.
DISCLOSURE
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