Investors have long invested in other investors as a way to get exposure to ambitious, speedy smaller funds (and access to hot deals before their neighbors notice). Andreessen Horowitz has been doing it for years, most recently putting money into a fund for NFT art, and Lightspeed and Sequoia now have well-known scout programs that give starter capital to ambitious emerging investors.
While fund of funds isn’t a new strategy, it’s one that is gaining significant steam in a softening late-stage market and a rush to back the best pre-seed companies out there. Recent efforts from Tiger Global Management and Seven Seven Six — Alexis Ohanian and Katelin Holloway’s venture capital firm — show just how much attention is going toward emerging fund managers.
To start, The Information reported this week that hedge fu …
