Power Laws, Secondaries, and Staying Consistent: StepStone’s VC Framework
A Swimming with Allocators Episode
This week on Swimming with Allocators, Alexa and I welcome Anthony Giambrone, Partner at StepStone Group, for a conversation on power laws, secondaries, and the importance of consistency in venture allocation.
This episode gets into the mechanics that matter. Venture returns are not evenly distributed. Liquidity is not always clean. And great programs require a framework that can survive multiple cycles.
Anthony brings the perspective of an institutional allocator who has seen enough market turns to know that consistency is not boring. In venture, it may be the whole game.