Spencer Moslow @SpencerMoslow Twitter profile

Pinned Tweet

Spencer Moslow

7 months

A 70% IRR doesn’t matter if only 10% of your money has been deployed. Remember: IRR is performance on capital that’s been deployed. If all the capital has been deployed, then IRR can be a true determining factor of your entire portfolio.

3

1

22

Last Seen Profiles

@Ossi3006

@stw_pdg

@blu_likedacolor

@patronekcr

@EGarlandTrader

@Dave09368868

@UlrichRichterM

@katana_case_shi

@TheRealJL3D

@_cridea_jeevik_

@GuyBloom

@ManuclearBomb

@cuki_timik48579

@IndraMeulemans

@Senbon_ashi_g

@cuki_timik48579

@danielpardhan

@HEO_Minor_AA_A

@cuki_timik48579

@JackermanDev

@SeanGinty3

@USAFA_eSports

@RidgePowerlift1

@SdVW19q7zRBXg

@godscontrarian

@Boy_233444

@Ahmet_Guldal

@syuuta_ria

@The0xJuan

@CarbonCreditXyz

@alizig

@Kaurlol_

@lucywatsonitv

@gil_manuelc

@hinchmonumental

@fausto_lia63660

Spencer Moslow

@SpencerMoslow

2 years

Why we are increasing access to Private Equity and Venture Capital for everyday investors. 👇 #investing #PrivateEquity #VentureCapital

1

13

146

Spencer Moslow

@SpencerMoslow

8 months

You’re making a big mistake if you focus on IRR as your core metric for success in private equity. Here’s why and what other metrics you should focus on instead:

5

1

23

Spencer Moslow

@SpencerMoslow

10 months

We know venture capital and private equity funds well. We don’t really know real estate, private debt, or public equities. Instead of going out of our area of expertise and offering more asset classes, we’re just going to go deeper into VC & PE. Stick with what you know.

2

1

16

Spencer Moslow

@SpencerMoslow

10 months

If the fund partners and investment team don’t have a meaningful stake in their funds, they're most likely looking for a free lunch to collect management fees. We’re not in the business of buying lunches!

0

18

Spencer Moslow

@SpencerMoslow

10 months

Private equity is one of the best asset classes in the world, year after year. On average, PE has delivered annual excess returns of about 4.3%🤯

0

16

Spencer Moslow

@SpencerMoslow

10 months

It takes time to build an asset management startup from the ground up. When you’re building an assessment management startup, you have to understand this before you get into it 👇

1

14

Spencer Moslow

@SpencerMoslow

1 year

If you follow Private Equity or Venture Capital you need to read these 7 books:

3

15

Spencer Moslow

@SpencerMoslow

11 months

The term accredited investor actually dates back to the Securities Act of 1933, but it wasn’t legally defined until 1978. Since then, the definition has changed 5 times (most recently in 2020) I wouldn’t be shocked if it became even more inclusive in the next few years.

1

14

Spencer Moslow

@SpencerMoslow

11 months

The worst advice I see from “gurus” on Twitter is encouraging people to use leverage. If leverage isn’t utilized properly, it can financially destroy you.

2

1

14

Spencer Moslow

@SpencerMoslow

10 months

We've had some really cool intros to people through Twitter and LinkedIn. But at the end of the day, everything you do online (your blog posts, newsletters, etc.) creates a footprint

1

0

11

Spencer Moslow

@SpencerMoslow

11 months

There are rumors the SEC could give individuals a test to determine if they qualify rather than deciding based on income, net worth, and their series license holders. This could increase the opportunity set for fund managers & individuals

1

0

13

Spencer Moslow

@SpencerMoslow

10 months

The one skill from investing that prepared me for being an entrepreneur: risk-taking. As an investor and an entrepreneur, you have to make uninformed decisions all the time. Not every decision will work out, but being comfortable with that risk is important.

0

11

Spencer Moslow

@SpencerMoslow

10 months

According to Bain, funds hold a record $2.8 trillion in un-exited assets. That’s a lot of value but not a lot of liquidity. At some point, these funds will need to return dividends to LPs, or else these are just paper returns.

0

1

10

Spencer Moslow

@SpencerMoslow

1 year

When VC firms start unloading their portfolio companies in the next 1-2 years, expect private equity funds to be the main winners. Sharks are in the water.

2

1

13

Spencer Moslow

@SpencerMoslow

1 year

We're big believers in funds that get operationally involved with the companies they work with; it's where so much of the value is created.

2

1

14

Spencer Moslow

@SpencerMoslow

1 year

Great conversation with @beyond_broke ! Amazing how great of a networking tool Twitter has become. He is up to some great stuff!

1

3

14

Spencer Moslow

@SpencerMoslow

10 months

Two major challenges I’ve faced since starting OneFund: The #1 challenge is all the different moving parts that go into building software. One thing the tech community doesn’t tell you on social media is all the things that go into building a platform.

2

0

9

Spencer Moslow

@SpencerMoslow

10 months

@buccocapital Grifter confirmed! Engagement farming at its finest.

0

12

Spencer Moslow

@SpencerMoslow

1 year

Private equity is one of the best asset classes in the world, year after year. On average, PE has delivered annual excess returns of about 4.3%

1

0

12

Spencer Moslow

@SpencerMoslow

10 months

I know people think Blackstone is the top dog of the private equity industry, but I think they’re overrated nowadays. Don’t get me wrong, Blackstone was a pioneer and produced some of the best returns ever, but today…

2

0

12

Spencer Moslow

@SpencerMoslow

11 months

My main piece of advice for people who are thinking about leaving their job to start a company: Make sure your personal finances are in order. Worrying about your personal finance adds an unnecessary layer of stress and pressure you don’t need as a founder.

2

0

12

Spencer Moslow

@SpencerMoslow

1 year

@sweatystartup Remarkable how many boomer businesses currently operate with massive inefficiencies. Will be a lot of opportunity for savy operators over the next handful of years…

1

0

11

Spencer Moslow

@SpencerMoslow

1 year

In 2022, PE-controlled companies needed 9% earnings growth to realize a 20% equity return. Today they need a 16% earnings growth to realize the same equity return. The cost of capital effects aka interest rates, effect everything in the PE world.

0

11

Spencer Moslow

@SpencerMoslow

1 year

3 characteristics of a manager I’d assess as an LP: • How many funds they’ve closed • How many cycles they’ve been through • What their deal flow track record is - from a quality standpoint I’m looking for fund managers that have been around the block

0

1

11

Spencer Moslow

@SpencerMoslow

11 months

Industry reports are extremely valuable. The problem? The content isn’t digestible. People resort to tweets & short articles rather than quality research. If industry reports were easier to consume the general public would be much more informed.

0

1

11

Spencer Moslow

@SpencerMoslow

1 year

Pencils down for the day. Off to my new hobby!

0

12

Spencer Moslow

@SpencerMoslow

10 months

While the Great Financial Crisis was a tough time for private and public market investors, the private market weathered the storm much better.

4

1

11

Spencer Moslow

@SpencerMoslow

1 year

@realEstateTrent Borrowing at 3.5% to buy a 5% is completely broken in my eyes also.

2

0

11

Spencer Moslow

@SpencerMoslow

11 months

The hardest thing about starting a company is taking a risk on an idea you're passionate about. At some point, you gotta stop analyzing things, stop talking about things, and just do it. It sounds simple, but it’s often what separates the “coulda-been's” from the winners.

0

12

Spencer Moslow

@SpencerMoslow

1 year

@TrungTPhan Tennis>pickleball all day long

0

12

Spencer Moslow

@SpencerMoslow

11 months

We believe our best long-term acquisition funnel will be content. Content works well for a few reasons:

2

0

10

Spencer Moslow

@SpencerMoslow

10 months

Sometimes large funds have minimum check sizes, anywhere from $10-20m. This slows them down and prices them out of smaller deals that may have attractive return profiles.

0

11

Spencer Moslow

@SpencerMoslow

11 months

Right now, there is a shortage of quality investing opportunities. Regardless of the industry, the numbers on most deals just don't make sense.

1

0

10

Spencer Moslow

@SpencerMoslow

1 year

@MrFamilyOffice Consistent with what we have seen. High net worth individuals and family offices are increasing allocations to high quality alternatives. In this environment quality is very important!

0

2

11

Spencer Moslow

@SpencerMoslow

11 months

Each and every one of the funds on our platform goes through an extensive due diligence process. From start to finish the due diligence process typically takes around three months.

1

0

10

Spencer Moslow

@SpencerMoslow

11 months

Some differences between early-stage and growth-stage investors: Early-stage investors: • Little to no information to work with • Smaller checks, more frequently • Quick decision making

1

0

10

Spencer Moslow

@SpencerMoslow

10 months

The beauty of a smaller fund is the manager can be a lot more nimble in what they're going after. A lot of the time large fund managers have a minimum check size. Whereas smaller funds can get more creative and finance smaller rounds with smaller, attractive companies.

0

10

Spencer Moslow

@SpencerMoslow

11 months

The definition of an accredited investor is one of the hottest topics in finance. But when did the term “accredited investor” start and how has the definition changed over the years?

1

0

9

Spencer Moslow

@SpencerMoslow

1 year

@biz_with_brian Very school dependent, but to go $250k in debt to go to a mid to lower tier school is crazy.

2

0

10

Spencer Moslow

@SpencerMoslow

10 months

The type of people who invest on OneFund: • Want access to private markets and higher returns • Come from family offices, financial advisors • Want more diversity in the private markets • Are as young as 20 and as old as 75

1

0

10

Spencer Moslow

@SpencerMoslow

1 year

How much have the private markets outperformed public markets? Traditional financial advice says “Invest your money in the S&P 500 and forget about it” But…

1

0

10

Spencer Moslow

@SpencerMoslow

1 year

Hot take: VC funds are going to start unloading a lot of portfolio companies. They want to ditch their modest winners and focus on moonshots in an effort to save their fund performance.

0

1

9

Spencer Moslow

@SpencerMoslow

1 year

In an interest-free environment, you can basically spray your chips everywhere and you'll be making $$. Well, that's over now. Believe it or not, people are actually going to have to exercise clear thinking and rationale when allocating capital now to see those returns.

0

1

9

Spencer Moslow

@SpencerMoslow

10 months

A lot of the top funds add hidden fees to their funds. They are usually in the form of legal or administrative fees that start your base investment at $95 on the dollar instead of the full $100.

0

8

Spencer Moslow

@SpencerMoslow

11 months

Government regulations change the way you invest: • ESG regulation & clean energy credits boost possible returns for funds • Education funding during COVID increased schools budgets & changed dynamic in EdTech • COVID & government’s response created healthcare opportunities

0

7

Spencer Moslow

@SpencerMoslow

11 months

Thrilled to announce the launch of our new website over at @tryOneFund ! Special thanks to @sweatystartup for making us aware of the folks over at @WebRunLabs . Will and team are incredibly talented and great to work with. As a business owner it is very rare in my experience for a

1

9

Spencer Moslow

@SpencerMoslow

10 months

In the next month, we’re going to launch a white-label solution of our technology for other fund managers. Going after smaller check sizes is a pretty trendy thing right now, so if you're a fund manager you need a tech solution to properly do that.

1

0

9

Spencer Moslow

@SpencerMoslow

11 months

@MrFamilyOffice Might be a hot take. Most of these conferences have turned into a total cash grab or an excuse to party.

3

0

9

Spencer Moslow

@SpencerMoslow

1 year

In Q1, add-on investments (acquisitions by portfolio PE companies) accounted for ~65% of the total PE deal count. This is WAY higher than the historical average. Investment strategies are shifting.

0

1

9

Spencer Moslow

@SpencerMoslow

1 year

Cost of capital is much higher today than it was last year. This affects everything Private Equity investors do. Here’s how high rates are affecting PE:

2

1

9

Spencer Moslow

@SpencerMoslow

1 year

@realEstateTrent Wild how many folks are underwater in the past 10 years there. Upper east side especially.

0

8

Spencer Moslow

@SpencerMoslow

11 months

@MrFamilyOffice Alternatives platform here looking to break into the family office ecosystem. Have some incredible PE/VC opportunities on the platform currently. $60 billion PE fund with a 15% preferred return specifically!

1

0

9

Spencer Moslow

@SpencerMoslow

1 year

Why am I building OneFund? It starts with the two major trends shaping the past ten years of investing in the United States. The first is the rise of retail investors

1

2

9

Spencer Moslow

@SpencerMoslow

1 year

Was awesome to catch up with @investing_law yesterday. Looking forward to tracking along his buildout of the Investor Opportunity Network and hoping to play a part in bringing curated private market opportunities to folks!

1

9

Spencer Moslow

@SpencerMoslow

11 months

QSBS can wipe out 100% of your fund’s capital gains tax Even though funds can’t report the savings from QSBS as returns, it can still act as a flow-through vehicle from your fund to your LPs This accelerates your overall returns to your LPs and makes your fund more attractive.

3

1

9

Spencer Moslow

@SpencerMoslow

1 year

VC investments were down big in Q2 2023. According to Axios VC disbursements: • Hit $87.4 billion in Q2 2023, a 42.8% year-over-year decline • Down 48% year-over-year, but also down 13.1% from Q1 2023 • The number of deals is down 38.7%

1

2

9

Spencer Moslow

@SpencerMoslow

1 year

In an interest-free world, you could get away with allocating capital without doing much DD. Now that interest is back in the equation, LPs will need to be a lot more careful in who they're giving their money to. Experienced operators will clearly have a leg up in this market.

5

1

9

Spencer Moslow

@SpencerMoslow

1 year

In today’s environment, deals are generally smaller and capital structures are more conservative. A Goldman report highlights that the average buyout deal, for example, is now using 1.4x less leverage than before. This has led to buy-and-build strategies becoming more popular

0

2

7

Spencer Moslow

@SpencerMoslow

10 months

One thing that separates a good investor from the rest is the ability to go above and beyond for their portfolio companies. If you care about your portfolio companies, you should spend time on the deal and make introductions. Make them feel valued.

1

0

7

Spencer Moslow

@SpencerMoslow

1 year

Last month, @loganbartlett of Redpoint Ventures released its LP AGM presentation, which is a great behind-the-scenes look into how a venture firm is reading current market conditions.

2

8

Spencer Moslow

@SpencerMoslow

1 year

One thing that separates a good investor from the rest is the ability to go above and beyond for their portfolio companies. If you care about your portfolio companies, you should spend time on the deal and make introductions. Make them feel valued.

0

1

8

Spencer Moslow

@SpencerMoslow

1 year

IRR can be a misleading metric. Let's say your IRR for the fund is 25%, but you've only deployed 50% of the capital. 50% of your funds aren't producing a return and that's not factored into the IRR calculation, making it seem like the fund is doing better than it actually is.

2

0

8

Spencer Moslow

@SpencerMoslow

9 months

Small changes can get you big results. We just redid our website and upgraded our backend SEO. Within a few weeks our website visits have already jumped by 3-4x.

2

0

8

Spencer Moslow

@SpencerMoslow

8 months

“There’s no way that’s actually legal.” That’s one of the things I hear from @tryOneFund users when I tell them about qualified small business stock (QSBS). The reason they’re shocked? Because in 43 U.S. states, any returns you make off QSBS are fully exempt from federal tax

1

2

8

Spencer Moslow

@SpencerMoslow

1 year

What measures of performance should you be looking at before prioritizing a manager? How do you rank PE managers by performance? Why are there so many terms to describe performance? Forget all the other stats. There are only two terms that actually matter 👇🏼

1

0

7

Spencer Moslow

@SpencerMoslow

1 year

Investing in private markets can be a tax haven. The QSBS exemption allows small business owners to save a significant amount on capital gains. Investors can deduct up to $10 million in taxes or 10 times the adjusted cost basis on capital gains in private companies.

0

1

8

Spencer Moslow

@SpencerMoslow

9 months

“Why didn’t you just start your own private equity or venture capital fund? At OneFund, we offer dozens of PE and VC funds for individuals to invest in, however, we avoided starting our own fund because:

1

8

Spencer Moslow

@SpencerMoslow

1 year

Great insights here!

The Investments Lawyer (Michael Huseby)

@investing_law

1 year

💡I've been getting a lot of questions recently about what happens if an LP doesn't fund its capital commitment😶‍🌫️ Here are some of the options for what GPs can do🔥

2

3

16

1

0

8

Spencer Moslow

@SpencerMoslow

10 months

Building credibility as a startup takes a lot of time, but if you enjoy building things from the ground up, it’s such a rewarding process.

1

0

7

Spencer Moslow

@SpencerMoslow

1 year

Questions we use to evaluate smaller/newer fund managers: • What is their strategic edge? • What check sizes are they writing? • What realm are they operating in? • What operating team do they have in place?

0

1

7

Spencer Moslow

@SpencerMoslow

1 year

LPs- Benefits of investing in a fund manager: • You don’t have to “time the bottom” • You don’t need to worry about dollar cost averaging • You won’t make irrational decisions influenced by temporal emotions • You benefit from the analysis of hundreds of thousands of

0

6

Spencer Moslow

@SpencerMoslow

7 months

At OneFund, we do 2 things that allow us to provide top-tier PE and VC capital funds to retail investors. It helps that they also set us apart from our competition! Here are the two things we prioritize at OneFund for success:

1

0

7

Spencer Moslow

@SpencerMoslow

7 months

@darrenmarble One of the better takes I have seen! Well done

0

7

Spencer Moslow

@SpencerMoslow

1 year

Over the last 25 years, private equity has outperformed public market benchmarks by 5% per year. Yet, normal people still don’t have access to these returns. Over at OneFund, we’re changing that. Sign up today or check out what we’re building here:

Onefund Investments: Invest in top-tier private equity and venture capital funds

OneFund | Invest in top-tier private equity and venture capital funds

www.onefundinvestments.com

0

1

7

Spencer Moslow

@SpencerMoslow

1 year

Was lucky enough to catch up with @jd_foote this week. Incredibly thoughtful guy. Awfully excited for what he is building at the Family Capital Club. I think it is super important to create a safe space for folks to discuss finances and family values.

1

0

7

Spencer Moslow

@SpencerMoslow

1 year

Alternative investments can be a complex asset class. Most people have never invested in them before and don’t understand what they are.

1

7

Spencer Moslow

@SpencerMoslow

1 year

Had the pleasure to speak with @carrynointerest today. Was totally blown away. Working on of the best use cases I have seen for AI yet. One of the sharpest minds out there. Stay tuned to what he is up to!

0

6

Spencer Moslow

@SpencerMoslow

1 year

A good day to be this guy!

0

7

Spencer Moslow

@SpencerMoslow

10 months

The most common questions we get at OneFund from potential members: • What are your fees? • What are the return profiles? • What does liquidity look like? • What sort of companies are these funds focused on? • What's the difference between the private and public markets?

0

6

Spencer Moslow

@SpencerMoslow

1 year

This was a truly awesome listen. Some great insights from the brilliant @jeremygiffon !

Patrick OShaughnessy

@patrick_oshag

1 year

My conversation with @jeremygiffon on special sits in private markets This is just a taste of similar discussions I’ve had with Jeremy over the past few months A fascinating thinker + investor that I suspect will be a friend for a long time

25

15

209

2

1

7

Spencer Moslow

@SpencerMoslow

11 months

@hq_storage Pretty sweet. What are the costs associated with it? Or too early to tell ?

1

0

6

Spencer Moslow

@SpencerMoslow

11 months

$73 trillion will be passed down to younger generations in the coming decades. That’s a lot of money entering the hands of young investors who think differently than their parents. Expect alternative investments to rise in popularity.

0

7

Spencer Moslow

@SpencerMoslow

10 months

Join us for our upcoming @tryOneFund x Guardia webinar, Navigating Private Equity. We are thrilled to be teaming up with Miguel Osio Brillembourg, the Founder of Guardia, a concierge platform helping individuals better navigate their financial lives. This will be on Friday,

1

2

6

Spencer Moslow

@SpencerMoslow

1 year

Middle Market funds are having a moment: 1/ MM Private Equity represented 88% of buyout fundraising in Q1 2023, a HUGE increase from 45.4% in 2022.

3

0

7

Spencer Moslow

@SpencerMoslow

9 months

I’m not in the alternative investing business I’m in the people business You can build the best alternative investing platform in the world, but if you can’t convince individuals and funds to trust you, you’ll never scale. People > Assets

1

0

7

Spencer Moslow

@SpencerMoslow

10 months

We’re building a white-label tech solution for fund managers to use. It will have everything to run a fund from KYC and AML to digital subscriptions and a backend tool to manage all your LPs. Go all in on your tech, you won’t regret it

1

0

7

Spencer Moslow

@SpencerMoslow

10 months

Private Equity exit figures are down 75% in Q2 2023 from the highs of Q2 2021, according to Pitchbook’s Q2 2023 Private Equity report. What does this mean?

3

0

6

Spencer Moslow

@SpencerMoslow

1 year

@MalcolmJess I assume he is only the beginning…

0

6

Spencer Moslow

@SpencerMoslow

1 year

@chutneylife Used cars are highly liquid market. They should absolutely be included.

0

7

Spencer Moslow

@SpencerMoslow

11 months

Smaller private companies are more volatile than large public companies because they’re less mature and less liquid. To manage the volatility, you have to diversify yourself across multiple funds.

2

0

7

Spencer Moslow

@SpencerMoslow

1 year

North American private equity funds have shown strength, returning 5.9% in Q3 2022 compared to -7.3% globally. That’s a huge spread in these markets

0

7

Spencer Moslow

@SpencerMoslow

1 year

The beauty of investing with a fund manager is that you have exposure to 20, 30, 40, even 50 different companies as opposed to a crowdfunding site where you're investing in only one company!

0

1

6

Spencer Moslow

@SpencerMoslow

8 months

If you want to invest in private markets and be ahead of 80% of new PE investors, you must understand this curve. Learn it and you’ll be a much better investor. Let’s dive in 👇

1

2

6

Spencer Moslow

@SpencerMoslow

9 months

@abarrallen Founders attending these events won’t be founders in 12 months. Total waste of time!

1

0

5

Spencer Moslow

@SpencerMoslow

11 months

You see a lot of large fund managers moving down market because some of the best opportunities right now are in smaller deals. The downside is that a lot of smaller fund managers will now be squeezed out of deals by these bigger funds going downstream.

3

0

6

Spencer Moslow

@SpencerMoslow

11 months

Founders need to perform at their best all day, every day, and if you’re worried about your finances you won’t be able to.

0

6

Spencer Moslow

@SpencerMoslow

7 months

Ever wanted to understand how we select new opportunities for @tryOneFund or even be involved in diligencing a PE fund? We're excited to launch the OneFund Community Deal Team! This team will collaborate on due diligence and the selection of new funds for OneFund's platform.

1

3

6

Spencer Moslow

@SpencerMoslow

1 year

There's a reason why big players are increasing their positions in private markets. The private fund structure is best suited to take advantage of current market opportunities. In times of market dislocation, curation is vital.

0

6

Spencer Moslow

@SpencerMoslow

8 months

@TripleNetInvest Anchored by a smoke shop it looks like. Craziness!

1

0

6