Good morning 👋
We started Confluence six years ago, and over that same time we have met with thousands of investors at different venture firms. If you have followed our writing for a while, you know we tend to gravitate towards emerging managers (funds I - III).
After talking and evaluating different GPs as a peer, as a friend of founders, and as an LP, a quality bar emerged over time.
The result is the Confluence 50 - our curated tracker of 50 emerging venture funds that we believe are quietly shaping the next generation of the asset class. These are the managers who are too new to be obvious and too good to ignore.
We spent years curating the list, months collecting data (AUM estimates, check sizes, follow-on rates, thematic focus, GP backgrounds, portfolio companies, and fundraising status), and weeks putting together this report. Much of it required digging well beyond what's publicly available.
Given the depth and exclusivity of this reporting, The Confluence 50 - filterable by GP type, stage, sector, geography, and fund size - is available to subscribers of our premium newsletter. If you work in tech, venture capital, or traditional investing, this product alone should more than justify a year’s subscription.
Before uncovering the full list, here are some things that stood out from collecting this research …
