This is part 6 of 10 of our 10 Years of Laconia Series.
We just don't fit in. Our personality has always been that of outsiders. This outsider identification is likely what drove us to become founders in the first place, both as operators and as venture capitalists. We are drawn to entrepreneurial niches that pique our curiosity, where there’s a unique fit, and then we build something meaningful around that opportunity. This is precisely how we built Laconia.
Laconia is the culmination of this approach, consisting of three core seed funds, a fund of funds, a number of later-stage SPVs (special purpose vehicles) allowing us to capitalize on our pro-rata rights, and GP interests in two blockchain infrastructure funds. We call this a horizontal approach to building assets under management (AUM). It enables us to achieve scale without losing our early-stage founder spirit. While we recognize the incentives and advantages of growing AUM, we’re committed to doing so without sacrificing our core strengths in seed-stage investing, upside potential, or alignment with our LPs. Our philosophy is simple: we make money when they make money.
A Unique LP Structure
Our LP structure sets us apart. Instead of relying on institutional investors, we’ve cultivated a base comprised primarily of family offices and high-net-worth individuals. This structure allows us to foster a more personal and collegial relationship with and among our LPs. By prioritizing engagement and open communication across all of Laconia’s activities, we’ve made education, collaboration, and community central to our operations. These principles not only enhance the value we provide to our portfolio companies but also make our partnerships deeply rewarding on a personal level.
Balancing Scale with Foundational Values
Over the past decade, we’ve grown Laconia from a start-up to a diversified investment platform. Yet, we’ve never lost sight of our identity as founders and entrepreneurs first. This identity drives our curiosity-driven, outsider approach to investing. We’ve consciously rejected the traditional founder/VC dichotomy, recognizing that such a divide can undermine the trust and collaboration essential to building successful companies. For us, bridging this gap isn’t just practical—it’s also more enjoyable.
Our horizontal approach to AUM growth allows us to remain nimble and aligned with the founders we back. By maintaining this balance, we’ve created a model that serves both our investors and our portfolio companies while staying true to our entrepreneurial roots. Laconia’s success is built on this foundation of trust, alignment, and curiosity—principles that guide us as we continue to navigate and shape the venture capital landscape.
