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How I Invest with David Weisburd · August 5 · 59 min

E412: UPENN Endowment: Why AI Will Create a New Generation of PE & VC Firms

AI isn't just changing technology—it is reshaping how investment firms create value, evaluate managers, and generate alpha. David sits down with Thomas Scriven, Managing Director University of Pennsylvania Office of Investments, institutional investor with experience across private equity, endowment management, and investment banking, to discuss why AI-native investment firms may outperform traditional firms, how great LPs evaluate GPs, why concentrated portfolios often outperform diversification, and the investing frameworks that separate elite allocators from everyone else. Highlights: Why AI-native private equity firms have a structural advantage. The framework Thomas uses to evaluate every GP. Why concentrated portfolios often outperform diversification. The hidden importance of incentives between LPs and GPs. How AI is changing operational value creation. Why thinking time is one of an investor's biggest competitive advantages. The mistake allocators make by overprotecting the downside. Why the best venture firms continue attracting elite founders. How secondaries have transformed institutional portfolio construction. The advice Thomas would give himself starting over today. Guest Bio: Thomas Scriven Managing Director University of Pennsylvania Office of Investments, institutional investor with more than 15 years of experience spanning private equity, endowment management, investment banking, mergers and acquisitions, portfolio construction, and special situations investing. During his career, he has helped build one of the world's leading university endowment private equity programs while partnering with top-performing venture and buyout firms globally. His investment philosophy emphasizes concentrated conviction, strong GP relationships, operational value creation, and long-term alignment between investors and managers. Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at david@weisburdcapital.com. We’d like to thank AlphaSense for sponsoring this episode! Sponsor: AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more. Stay Connected with David Weisburd: X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Pierce: https://www.weisburdcapital.com/ Stay Connected with Thomas Scriven: LinkedIn:https://www.linkedin.com/in/thomas-scriven-435281/ Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com. Disclaimer: This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions. (0:00) Why AI Will Reshape Every Investment Firm (4:12) The AI Playbook That Wins Private Equity Deals (11:48) Why Most Investment Firms Don't Have Enough Thinking Time (18:02) The Hidden Incentives That Drive Every LP and GP (25:06) Frameworks Beat Rules in Investing (33:10) Why Concentrated Portfolios Win (41:02) What Actually Makes a Top Venture Firm (49:17) The Psychology Behind Elite Investors (56:28) AI Will Separate the Winners From Everyone Else (1:04:48) The Investing Lesson Thomas Learned Too Late

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AI isn't just changing technology—it is reshaping how investment firms create value, evaluate managers, and generate alpha. David sits down with Thomas Scriven, Managing Director University of Pennsylvania Office of Investments, institutional investor with experience across private equity, endowment management, and investment banking, to discuss why AI-native investment firms may outperform traditional firms, how great LPs evaluate GPs, why concentrated portfolios often outperform diversification, and the investing frameworks that separate elite allocators from everyone else.

Highlights:

  • Why AI-native private equity firms have a structural advantage.
  • The framework Thomas uses to evaluate every GP.
  • Why concentrated portfolios often outperform diversification.
  • The hidden importance of incentives between LPs and GPs.
  • How AI is changing operational value creation.
  • Why thinking time is one of an investor's biggest competitive advantages.
  • The mistake allocators make by overprotecting the downside.
  • Why the best venture firms continue attracting elite founders.
  • How secondaries have transformed institutional portfolio construction.
  • The advice Thomas would give himself starting over today.

Guest Bio:

Thomas Scriven Managing Director University of Pennsylvania Office of Investments, institutional investor with more than 15 years of experience spanning private equity, endowment management, investment banking, mergers and acquisitions, portfolio construction, and special situations investing. During his career, he has helped build one of the world's leading university endowment private equity programs while partnering with top-performing venture and buyout firms globally. His investment philosophy emphasizes concentrated conviction, strong GP relationships, operational value creation, and long-term alignment between investors and managers.

Are you interested in sponsoring the How I Invest Podcast? Please email David Weisburd at david@weisburdcapital.com.

We’d like to thank AlphaSense for sponsoring this episode!

Sponsor:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest/ to learn more.

Stay Connected with David Weisburd:

X/Twitter: @dweisburd LinkedIn: https://www.linkedin.com/in/dweisburd/ Weisburd Pierce: https://www.weisburdcapital.com/

Stay Connected with Thomas Scriven:

LinkedIn:https://www.linkedin.com/in/thomas-scriven-435281/

Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.

(0:00) Why AI Will Reshape Every Investment Firm (4:12) The AI Playbook That Wins Private Equity Deals (11:48) Why Most Investment Firms Don't Have Enough Thinking Time (18:02) The Hidden Incentives That Drive Every LP and GP (25:06) Frameworks Beat Rules in Investing (33:10) Why Concentrated Portfolios Win (41:02) What Actually Makes a Top Venture Firm (49:17) The Psychology Behind Elite Investors (56:28) AI Will Separate the Winners From Everyone Else (1:04:48) The Investing Lesson Thomas Learned Too Late
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