Fund of funds

And so I think that's where consensus has finally kind of like come around that you don't, that venture now is multiple asset classes.

And so if you're going to have a small little bucket or sliver for the early stage emerging manager, part of the barbell approach, if that's what you're going to be adopting, then yeah, you're going to go talk to the fund of funds.

All right, next word, jumping into the debate section of our DDQ podcast.

Ernest, hypothetically, you learn that your GP just did a huge check into the latest round of insert AI lab, like opening AI at 1.2 trillion.

We put money into that structure.

And essentially what they then will look to do is to look for entrepreneurs or sorry fund managers that are investing at that seed stage to encourage more entrepreneurs to invest at that seed stage because like i said capital is guess because we've got i believe a lot more funders looking at the almost a few uh businesses that dearest and so the seed fund of funds i think you've you've interviewed mitch and adams from aeon so he they they were beneficiaries or our beneficiaries one buyer once again niche looking at them in investing in biotech and university technology fund.

And so those were the first three beneficiaries.

And I know that there's a couple more that's coming through the ecosystem because we believe that it's imperative that this value chain of investing is working well.

So capital that can be put at risk that you're not investing people's pension funds, that you are not investing.

in investing people's hard-earned savings, that the individuals could be more patient, can take more risk.

And so maybe government has the capability to play a role there, like they have with the SASME Fund, High Impact Seed Fund of Funds Program.

And I think from a diversity perspective, what we've done as eSquared and how we're playing a role is because of our relationship with the Alan Gray Orbis Foundation, EGOF has... does their recruitment for this for their bursary program in universities according to the demographics of the country and so what that means is we have 80 black participants on the program 80 plus i you know i don't know the exact number so so please Nobody come back and go like, no, this is wrong.