WestCap
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Look, WestCap is what happens when a legitimately connected operator decides to build his own shop instead of just collecting board seats. Tosi's track record speaks for itself - grew Blackstone's AUM from $119B to $333B, deployed $500M returning $1.6B with zero losses. When COVID killed StubHub's revenue, he literally stepped in as interim CFO doing weekly cash calls - that's not typical VC behavior. Founders on Wall Street Oasis say the team 'got it' and understood portfolio companies intuitively, investing in cool companies without blindly throwing money around. The 'Operating Equity' thing isn't just marketing speak - they actually write operating plans and execute them with founders, rolling up sleeves instead of just sitting on boards. But here's the thing: with $6B+ AUM and 36+ companies, they're getting big fast, which means L.T. can't personally save every deal like he did with StubHub.
- —Best for: Series B+ companies that want genuine operating help, not just capital
- —Watch out for: Getting lost as they scale - can't give everyone the StubHub treatment
- —Known for: Actually rolling up sleeves post-investment instead of just board meetings
WestCap specializes in tech-enabled, asset-light marketplaces, partnering with visionary leaders to build generational businesses. The $7.6B growth investing firm characterizes itself as an 'operating equity firm' that helps founders scale at the inflection point between traditional venture capital and private equity.
WestCap primarily invests in Series B rounds ($119M average) for US-based startups, with focus on Series B-D stages. Real portfolio spans fintech, enterprise applications, real estate tech, healthtech, consumer B2C, and financial services.
Former CFO of both Airbnb and Blackstone, plus COO at Merrill Lynch, with a track record of $500M deployed returning $1.6B without losses. Serial entrepreneur who co-founded Ipreo and was early investor in Airbnb, Tradeweb, and other market-changing platforms. Known for preaching 'caution and patience' and helping scale industry-leading companies during their periods of greatest innovation.
Former Co-Head of Funds & Co-Investment at GIC (Singapore sovereign wealth fund) and Principal at Blackstone Private Equity (2006-2015). Joined WestCap as Partner in 2021, leads investment team alongside L.T., recognized as Top Women Leader in Growth Investing 2024. Extensive experience in sourcing, evaluating, and overseeing investment portfolios with expertise in private markets.
Former executive at Sonos (Chief of Staff to CEO, VP Marketing) and Airbnb (founded Product Marketing team, GM of Magical Trips initiative). Managing Partner of CoLAB Creative Group, brings investment strategy and creative leadership to rapidly scaling organizations. Heads WestCap's internal creative studio, serves on AICP Awards jury for advertising innovation.
Former Treasurer at Airbnb (2016+), built treasury and insurance solutions teams, before that Managing Director at Goldman Sachs Investment Management for 16 years. Became WestCap Partner and Investment Committee member in 2021, started career as corporate attorney at Simpson Thacher & Bartlett.
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