E132: How Nichole Wischoff Raised a $50M Fund in 5 Months

In this episode of How I Invest, I dive into a conversation with Nichole Wischoff, Founder and Managing Partner at Wischoff Ventures, to explore her remarkable journey of raising a $50 million fund during one of the toughest markets of 2024. Nichole shares her insights on fundraising strategies, the power of media in deal sourcing, and building a personal brand. She also discusses her unique approach to fostering relationships in venture capital and why community and authenticity are key drivers of success in this space. This episode is packed with actionable takeaways for emerging fund managers and anyone navigating the world of VC. Highlights: $50 Million Fundraise: How Nichole secured her fund’s anchor and achieved a first close in just two months. Building Distribution Advantage: Leveraging social media and brand-building to access top founders and close deals. Fund Size Challenges: Overcoming objections from institutional LPs and proving scalability. Strategic Fundraising: Nichole's timeline, drip campaigns, and tactics to convert LPs at a 26% rate. Community-Driven Success: The value of collaboration among emerging managers and fostering trusted relationships. The Twitter Advantage: Nichole’s journey to building a massive online following and using it as a competitive edge. Cringe Scales: Why embracing discomfort on social media pays dividends for fund managers. Future Focus: Nichole’s advice for navigating relationships, building a firm, and standing out in the VC world. -- Guest Bio: Nichole Wischoff is the Founder and Managing Partner of Wischoff Ventures, a venture capital firm investing in early-stage startups. With deep operational experience at multiple high-growth companies and a proven track record in venture capital, Nichole has built her reputation as a leader in the emerging manager space. Known for her authenticity and strategic approach, she is passionate about building her firm and brand in public while supporting the next wave of groundbreaking founders. Our podcast now receives more than 200,000 downloads a month. Interested in sponsoring an episode? Please email me at dweisburd@gmail.com . We’d like to thank @ReedSmith for sponsoring this episode! #VentureCapital #VC #Startups #OpenLP -- SPONSOR: Reed Smith is a dynamic international law firm dedicated to helping clients move their businesses forward. With an inclusive culture and innovative mindset, Reed Smith delivers smarter, more creative legal services that drive better outcomes for their clients. Their deep industry knowledge, long-standing relationships and collaborative structure make them the go-to partner for complex disputes, transactions, and regulatory matters. Learn more at www.reedsmith.com . -- Stay Connected: X / Twitter: David Weisburd: @dweisburd Nichole Wischoff: @NWischoff LinkedIn: David Weisburd: David Weisburd LinkedIn Nichole Wischoff: Nichole Wischoff LinkedIn Links: Wischoff Ventures: www.wischoff.com Questions or topics you want us to discuss on How I Invest? Email us at dweisburd@gmail.com . (0:00) Episode preview (2:08) Leveraging social media and brand for distribution advantage (4:31) Overcoming LP objections and scaling investments (6:49) Strategies for first close and securing anchor LPs (10:29) Identifying and engaging interested LPs (13:34) Insights into decision-making of top quartile LPs and endowments (15:52) Collaborating with emerging managers and building trust (19:43) Importance of the 80/20 rule in relationships (21:27) Strategies for building a Twitter presence and follower psychology (25:47) Tips for effective Twitter engagement and brand growth (28:28) Closing remarks