In this interview with David Clark, Chief Investment Officer at VenCap International, we challenge one of the most entrenched assumptions in venture capital: that fund size is a reliable measure of success.
From emerging managers and public capital to the power law and what’s really ahead for VC, this conversation reframes how institutional investors should think about long-term performance in the asset class.
Rather than fixating on whether a fund is small, medium, or large, David explains why LPs should instead focus on the alignment between fund size, ownership strategy, and the potential to generate fund-returning outcomes. He also weighs in on the generalist vs. specialist debate, arguing that what truly matters is a manager’s consistent ability to back top 1% companies—regardless of thematic focus.
As the industry adjusts to a tougher fundraising environment and increasing market bifurcation, David offers a powerful reminder: venture capital is a 15-year game. Long-term success depends on resilience, discipline, and selecting managers with a clear edge in navigating the power-law dynamics of early-stage investing.
he third edition of 0100 International — organized by Zero One Hundred Conferences in partnership with the Milan City Council’s Department of Economic Development and Milano&Partners — brought together the global private markets community for a high-signal, execution-focused gathering held from October 27–29.
François Candelon, Partner for Value Creation & Portfolio Monitoring at Seven2, shares how the firm aligns every investment around a clear “exit animal”—a vision of the company at exit—and uses disciplined execution, AI-driven transformation, and sustainability as levers for resilience and premium valuations. From reengineering core processes with AI to embedding decarbonization into business strategy, Candelon explains how Seven2 builds companies that are not just exit-ready, but future-proof.
Private markets are entering a new era where trust, compliance, and technology converge. While public markets enjoy automation and transparency, private assets still depend on paper-based, fragmented systems. Antonio Chiarello, CEO of Weltix, argues that the next leap forward is not just digitization, but the creation of digital infrastructures that redefine ownership. In this conversation, he discusses why friction is structural rather than technological, how regulation enables innovation, and how programmable liquidity and transparency can channel more private capital into real economic growth.
