E386: Adams Street ($70B): Venture Capital Has a New Problem

E386: Adams Street ($70B): Venture Capital Has a New Problem

June 9, 2026 · 39 min · Episode 386

About this episode

In this episode, Jeff Diehl discusses key insights from his extensive experience in venture investing and the importance of access to top managers.

What separates the venture investors who generate extraordinary returns from those who simply participate in the asset class? In this episode, I sit down with Jeff Diehl, Managing Partner and Head of Investments at Adams Street Partners, one of the world's largest private markets investors with more than $70 billion in assets under management. Jeff shares lessons from over four decades of venture investing, including why access to top managers matters more than almost anything else, what 14,000 realized venture exits have taught Adams Street about return generation, and why portfolio construction often matters more than stock picking.

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