# Uncapped #34 | Mel Williams from TrueBridge

Page: https://stenobird.com/podcast/uncapped-with-jack-altman-7251833/uncapped-34-mel-williams-from-truebridge
Text version: https://stenobird.com/podcast/uncapped-with-jack-altman-7251833/uncapped-34-mel-williams-from-truebridge.md
Podcast: [Uncapped with Jack Altman](https://stenobird.com/podcast/uncapped-with-jack-altman-7251833)
Published: 2025-11-25T10:00:00+00:00
Episode link: https://traffic.megaphone.fm/PDP4397866212.mp3
Audio file: https://traffic.megaphone.fm/PDP4397866212.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/uncapped-with-jack-altman-7251833/episodes/uncapped-34-mel-williams-from-truebridge
Duration seconds: 2433

## Resource

Mel Williams is a co-founder and Partner at TrueBridge Capital Partners, a fund of funds with $8 billion in AUM focused on venture capital. Since 2007, Mel’s team has backed firms like Thrive, Founders Fund, Sequoia, and Alt Capital, and powers the data behind the Forbes Midas List. Before TrueBridge, Mel co-founded UNC Management Company (UNCMC), where he worked closely with the President/CIO to manage over $2 billion of endowment capital for the University of North Carolina. We covered: Investing in frothy markets Doubling down on winners Seed vs multi-stage Picking managers --- Timestamps: (0:00) Intro (1:10) AI valuations and a frothy market (4:35) Long term market risks (7:18) Should VC funds keep getting bigger? (9:37) 10% of the market is the signal (14:08) Venture math debate (18:05) Characteristics of great investors (20:46) The case for seed stage firms (23:09) Picking managers (24:59) Big wins and big misses (30:12) It’s hard to kill a good brand (33:06) Building a concentrated portfolio (36:53) Advice to young LPs --- More on Mel: https://truebridgecapital.com/ https://truebridgecapital.com/team/mel-williams/ More on Jack: https://www.altcap.com/ https://x.com/jaltma --- https://linktr.ee/uncappedpod Email: friends@uncappedpod.com

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/uncapped-with-jack-altman-7251833/episodes/uncapped-34-mel-williams-from-truebridge/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/uncapped-with-jack-altman-7251833/uncapped-34-mel-williams-from-truebridge.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.