TLDR:
- Bertrand Mueller, founding partner at DAA Capital, discusses the relationship between pension funds and venture capital.
- Pension funds act as both asset and liability managers, shaping their engagement with venture capital through stable, long-term capital, risk adjustments, and diversification.
Article Summary:
Bertrand Mueller, a founding partner at DAA Capital, delves into the symbiotic relationship between pension funds and venture capital in a Capital Conversations episode. With trillions of dollars in assets worldwide, pension funds play a crucial role in the investment landscape. Acting as both asset and liability managers, pension funds influence their exposure to venture capital through various strategies, including providing stable, long-term capital to VC firms. Mueller highlights how pension funds adjust risk profiles and seek diversification within the venture capital landscape to optimize returns and manage their liabilities effectively.
DAA Capital, based in Geneva, focuses on investing in European companies during their early growth stages, particularly those with scalable and proven technologies. Mueller’s expertise in engineering, technology fund management, and asset management for pension funds provides valuable insights into this dynamic relationship.
The IMD Venture Asset Management Initiative aims to demystify venture asset management in Switzerland and across Europe through research, thought leadership, and programs. Mueller’s discussion sheds light on the nuanced ways pension funds shape their engagement with VC firms, offering a glimpse into the strategies and dynamics at play in this often-overlooked partnership.
