Why Most First-Time VCs Struggle (And How To Survive) With Rick Smith Demo Day podcast

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Why Most First-Time VCs Struggle (And How to Survive) with Rick Smith

2d ago 1:11:08

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Starting a venture capital fund sounds glamorous — but the reality? It’s a long, grueling, high-stakes journey. In this episode of the Demo Day Podcast, we sit down with Rick Smith, Co-Founder of Crosscut Ventures, to unpack why most first-time VCs fail, how to navigate the emerging manager landscape, and what it really takes to build a lasting VC career.
Rick shares hard-won lessons from 25+ years in venture, including:
- What makes or breaks a fund's first few years
- How to raise capital from LPs when no one knows your name
- Why early-stage VCs need to swing bigger
- The hidden emotional toll of transitioning out of a firm
- How Crosscut almost didn’t survive Fund I
Whether you're a founder, emerging fund manager, or aspiring venture capitalist, this episode is packed with tactical insights, emotional honesty, and behind-the-scenes stories from one of LA’s most respected investors.
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