Hunter Walk, Homebrew & Screendoor

Challenging traditional VC fund structures

Hunter Walk, Homebrew & Screendoor

Today we have Hunter Walk, Partner of notable early-stage VC fund Homebrew, and emerging manager focused fund of funds Screendoor. Hunter is also one of the internet's most beloved tech figures with over 800k followers on Linkedin, over 266K on X, and the popular Self-Aware, Self-Promotion tech/vc blog.

Before venturing into the capital side of tech, Hunter led consumer product management at YouTube, delivering billions of playbacks a day. He joined Google in 2003 managing product and sales efforts for Google’s contextual advertising business, AdSense. And way before that, his very first mark on his resume was working at Late Night with Conan O’Brien, broadcasting to an audience of insomniacs, truckers and college students.

Safe to say, Hunter is a legend.

Check out the full conversation → Spotify, Apple or YouTube

In this episode, Hunter Walk discusses the evolution of his venture capital firm, Homebrew and their contrarian decision to become a self-funded fund in a world of increasingly large mega-funds. Homebrew focuses on working with early-stage companies and keeping things simple, without the constraints of a traditional fund structure. He explains the differences between their fund structure and traditional funds, highlighting their commitment to aligning incentives with founders.

Hunter has an incredible track record and we give him moment to ‘brag’ about some of their successful investments, such as Chime, Plaid, Gusto, and Cruise.

In addition, Hunter discusses the creation of Screendoor, a fund of funds designed to support emerging managers and provide access to their outsized early returns. He highlights the importance of building a successful firm with unique strategies and offers some advice to emerging managers: be self-aware, honest, confident, and avoid making rapid changes.

Timestamps

(00:00) Introduction & Homebrew's Self-Funded Fund

(01:55) Homebrew's Origins & The Shift to Self-Funding

(07:25) Addressing Common Misconceptions & The Impact of Fund Size

(12:00) Traditional Fund Structure vs. Homebrew's Model

(21:00) The Need for a Different Playbook & The Power of Concentration

(25:00) Homebrew's Investment History

(33:00) Introducing Screendoor & Its Mission

(41:00) Screendoor's Approach & Investment Criteria

(51:00) The Evolution of Screendoor's Screening Process & Advice for Emerging Managers

(57:00) Fundraising Strategies for Emerging Managers

(1:04:00) Final Advice & Takeaways