Jeff Clavier: How To Raise Your First Fund l Trailblazers Podcast Episode 53

In this episode, we sit down with Jeff Clavier, founder of Uncork Capital and one of the early pioneers of seed-stage venture capital.

Jeff shares what he has learned from more than two decades of investing in startups, from raising some of the earliest institutional seed funds to backing companies like Postmates and Fitbit. We get into the realities of raising a venture fund, what LPs look for in emerging managers, why DPI and returning actual capital matter more than paper markups, and how secondaries can create liquidity for investors. Jeff also breaks down his approach to deep tech and hardware investing, the opportunity he missed with Uber, and how he planned the transition of Uncork to its next generation of leadership.

If you're interested in venture capital, raising a VC fund, seed investing, emerging managers, LP fundraising, startup investing, fund economics, DPI, secondaries, or building a long-term career in venture, this episode is for you.

This episode is supported by Sydecar, HEX, Wispr Flow, Granola, Beehiiv, Kalshi

Sydecar: https://sydecar.io/partners/trailblazers

beehiiv: https://www.beehiiv.com/splash?utm_campaign=trailblazers-2026-Partnership&utm_medium=podcast&utm_source=trailblazers&utm_term=podcast-17&stripe_campaign_code=TRAILBLAZERS30 (or use code “trailblazers30” for 30% OFF)

Granola: http://granola.ai/trailblazers

*Granola is the official notetaker of Trailblazers! Checkout the episode shownotes here: https://notes.granola.ai/t/cd9f769d-33de-4ef8-abe9-57baa929cc4f-00b881l8

Kalshi: http://Kalshi.com/r/trailblazers

Wispr Flow: https://ref.wisprflow.ai/trailblazers

HEX: http://hex.ai/trailblazers

🎧 Listen on Apple Podcasts: https://apple.trailblazerspod.com