The Art and Science of Reference Checks | Raida Daouk | Superclusters | S3E6

“The more constraints you have, the more conviction you will have in each manager.” Raida started her career in banking before moving to the investment team of BY Venture Partner, a venture fund with offices in Beirut and Abu Dhabi. She quickly climbed the ranks within the company and ultimately became a Venture Partner. Recognizing a void in the market for personalized venture consulting services, Raida established Amkan Advisory, a boutique consultancy firm specializing in assisting family offices and high-net-worth individuals in identifying venture funds that align with their specific strategies. Given that first-time fund managers often possess the most aligned incentives with their investors, she understood the significant value they bring to the venture capital landscape. However, Raida also understood the reluctance of family offices to commit capital to relatively unproven managers. By curating a portfolio of carefully selected funds, she aims to mitigate the perceived risk associated with investing in first-time managers while still accessing the high-growth potential of emerging ventures. Amkan Ventures emerged to offer LPs access to emerging managers beyond their direct reach. Focusing on small Funds I and II led by ambitious managers with a conviction-driven approach, the firm prioritizes delivering returns and nurturing opportunities in the venture arena. Amkan Ventures’ first close occurred in April 2024, with one investment already made in a $30M fund I out of NY and one more about to be announced. Raida currently serves on the Selection Committees of RAISE Global and The Bridge Platform. You can find Raida on her socials here: LinkedIn: https://www.linkedin.com/in/raidadaouk/ Amkan Ventures: https://www.amkanventures.com/ And huge thanks to this episode's sponsor, Alchemist Accelerator: https://alchemistaccelerator.com/superclusters OUTLINE: [00:00] Intro [02:45] The impact of biology on Raida's career [06:24] If Raida were to teach a founder psychology course [08:42] Raida's definition of "running through walls" [10:16] Similarities and differences between founders and fund managers [11:36] What does GP-thesis fit look like? [14:38] How Raida got to a yes on Nebular Ventures? [20:35] The personas of different kinds of references [26:05] The one question that Raida always asks during reference calls [28:31] Is there such a thing as too many references? [31:57] What if you don't have a network of references as an LP? [35:26] How does one set up the venture arm of a family office? [40:28] What is the GCC? [43:58] The best way to build relationships in the GCC [47:54] The origin story of Amkan Ventures [52:19] How did Raida build a strong understanding of the foodtech space? [53:58] Where did Amkan's name come from? [58:26] What fund is in Raida's anti-portfolio? [1:00:30] What's Raida's take on solo GPs? [1:03:10] How does your mindset change as an LP if you had evergreen capital? [1:06:58] Thank you to Alchemist Accelerator for sponsoring! [1:07:59] If you enjoyed this episode, it would mean a lot if you could share this with one other friend! Follow David Zhou for more Superclusters content: For podcast show notes: https://cupofzhou.com/superclusters Follow David Zhou's blog: https://cupofzhou.com Follow Superclusters on Twitter: https://twitter.com/SuperclustersLP Follow Superclusters on TikTok: https://www.tiktok.com/@super.clusters Follow Superclusters on Instagram: https://instagram.com/super.clusters