What if you were to found a private equity firm that entirely outsourced the investment function and focused solely on operations? Impossible dream or the future direction of the market?
The Drawdown speaks to Stephen Branagan of Pantheon Ventures, who argues that it might not be such a crazy concept as it first appears. With LP and regulatory demands ever increasing and tech stacks increasingly complex, a firm specialising in ops could have an advantage when marketing to investors. 
Stephen and The Drawdown team discuss the pros and cons of an operations-first approach and whether this dream could ever become reality.