A Former LP's View on This GP-LP Thing

Jim hardin

"Veil focuses on GPs who are not yet fundraising, since during my time as an LP, that was the best environment for LPs and GPs to form a more realistic, low pressure view of each other. And I want to be clear: Veil is just the spearhead for facilitating real, face-to-face interaction. It is not a black box or some kind of push button investment platform.

Jim Hardin, Founder

Background:

Veil was founded by Jim Hardin and leans on his direct and sponsor-backed investment experience. Jim is a former principal at Global Endowment Management ("GEM"), an outsourced endowment-style investment firm founded by Duke University's and The Duke Endowment's former CIOs. While at GEM, he was responsible for private equity and venture capital fund, co-investment, and direct investments and lent a hand with public equity, credit, and hedge fund investments. During this time with GEM and through Q3 2017, he also owned a small business and was active on the board and with strategy. This experience made him less forgiving of GPs in some areas (losing money) and more forgiving in others (how long it might take to make real money).

Prior to joining GEM, Jim was an investment professional at Farallon Capital's Noonday Asset Management sub-advisor, where he was part of a two-person team overseeing a long/short equity and merger arbitrage portfolio focused on healthcare companies. Jim holds a BA in Economics from Harvard College.


Taking a "Switchboard" Approach...Not a "Man with a Hammer":

Welcome. My father was called "The Switchboard" in his 30-year tenure at Coca-Cola; he could connect any inbound inquiry to the right destination fairly quickly. That's what I aim to do in this LP-GP world: sometimes providing a service, and often directing you to someone who I think does what you seek best. Whether you're just getting started in the industry, inquiring about uses of time like conferences (ILPA Industry Calendar), seeking data sharing or process best practices, are an LP or GP wanting to find quality partners without the pressures of fundraising (Veil), or might want to raise capital now (80% of my time, via my affiliation with Emerson Equity: connecting GPs the old fashioned way to ~30 LPs)...I've likely spent time thinking about it.

My favorite area to take on personally (i.e. old fashioned introductions) is those GPs and LPs who are considering the pros and cons of fundless and fund models: "between the cracks," or "hybrids." In this market, I believe no good GP needs help fundraising--but it's common that their LP relationships are sub-optimal: overly concentrated in one region, one LP type, or with LPs who cannot (or will not) grow with the GP. And that is where I believe that I'm most useful.