Last Sunday marked the Autumn Equinox, the day when daylight and darkness are equal. Here in Denmark, where winters are long and dark, the equinox signifies the shift to shorter days. From now until the winter solstice, our nights will continue to grow longer, with the shortest day offering only seven hours of sunlight. The Danes embrace the concept of “hygge” to get through this season, finding comfort and coziness during darkness.

This week, I read a post by Charles Hudson titled “You’re Not the Same Fund Manager You Were When You Started.” He reflects on how his journey as a fund manager has evolved over time due to changes in both his personal life and the industry. One of his key insights for new fund managers is to remain adaptable and not feel bound to their original approaches. We must be willing to evolve and manage our funds in ways that best suit our current climate.

Work Highlights

This week was heavily focused on proposal writing. I submitted two proposals with a total value of $650K. I also had calls with informal advisors who offered valuable insights into our approach to building and fundraising for our fund.

I’ve been hearing a lot of different perspectives on how to determine fund size, as it directly impacts fund strategy. The most practical advice I received this week was to base my initial fund size on what I could realistically raise within my network over the next 3-6 months. The idea is to aim for a quick first close, deploy some capital to demonstrate traction, and then use those proof points to raise additional funds. For example, if I believe I can raise $1M from “friends and family” in six months, I should aim to raise a total of $2M over 18 months. This approach allows for a quicker deployment of capital and sets the stage for subsequent fundraises.

Daily 5K

I’m still hitting my daily movement goals, though it’s now more walking than running. Fall is settling in, and my walks this week have been accompanied by misty rain—perfect for reflecting on the changing season.

My Scripture of the Week

Isaiah 43:20 (NLT): “…Yes, I will make rivers in the dry wasteland….”