{"id":57618,"date":"2026-03-06T14:46:04","date_gmt":"2026-03-06T19:46:04","guid":{"rendered":"https:\/\/www.cambridgeassociates.com\/?p=57618"},"modified":"2026-03-06T14:53:34","modified_gmt":"2026-03-06T19:53:34","slug":"building-a-resilient-venture-capital-portfolio","status":"publish","type":"post","link":"https:\/\/www.cambridgeassociates.com\/en-eu\/insight\/building-a-resilient-venture-capital-portfolio\/","title":{"rendered":"The Biggest Mistake Investors Make When Building a Venture Capital Portfolio"},"content":{"rendered":"

In this episode of “How I Invest,” host David Weisburd sits down with Michael Larsen<\/a>, Partner at Cambridge Associates, to discuss the nuanced challenges and opportunities in venture capital<\/a> portfolio construction. Drawing on decades of experience advising leading institutions and family offices<\/a>, Michael explores why venture portfolios behave differently from other asset classes and highlights the most common mistakes investors make when allocating to venture.<\/p>\n

The conversation covers key topics such as the importance of longevity in venture investing, the impact of allocation size, and the often-overlooked role of governance. Michael also shares practical guidance on defining an illiquidity budget, understanding the risks and rewards of co-investing<\/a>, and why elite limited partners are comfortable with \u201cspiky\u201d returns.<\/p>\n

Whether you\u2019re an experienced investor or new to venture capital, this discussion offers valuable perspectives on building a thoughtful, resilient portfolio in a complex and evolving market.<\/p>\n

Watch the full conversation below to gain deeper insights into effective venture portfolio construction.<\/strong><\/p>\n


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