# E364: $90B Limited Partner: Why We're (Still) Bullish on Large VC Funds

Page: https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e364-90b-limited-partner-why-we-re-still-bullish-on-large-vc-funds
Text version: https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713/e364-90b-limited-partner-why-we-re-still-bullish-on-large-vc-funds.md
Podcast: [How I Invest with David Weisburd](https://stenobird.com/podcast/how-i-invest-with-david-weisburd-6470713)
Published: 2026-05-07T12:45:00+00:00
Episode link: https://howiinvestpodcast.com/episodes/bkI7L9gdglP
Audio file: https://dts.podtrac.com/redirect.mp3/media.podcastai.com/episodes/bkI7L9gdglP.mp3?u=1778173349
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Duration seconds: 2359

## Resource

What if venture capital isn’t an asset class—but an access game where only a few managers matter? In this episode, I sit down with Nolan Bean, CIO at FEG Investment Advisors, to discuss how institutional investors are adapting to a world where companies stay private longer and AI is reshaping every asset class. Nolan breaks down why access to top-tier managers matters more than allocation, how venture portfolios are evolving to include both early-stage and multi-stage exposure, and why DPI, liquidity, and portfolio construction are becoming more complex. We also explore portable alpha, diversification myths, and how allocators think about risk in a world where everything is increasingly correlated.

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## Transcript

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