Inside the Mind of the Investor Who Backed Josh Kushner, Peter Thiel, and Marc Andreessen | Ep. 34

ℹ️ EPISODE INFO

Released

November 25, 2025

Duration

40m

Channel

Uncapped with Jack Altman

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

Mel Williams is a co-founder and Partner at TrueBridge Capital Partners, a fund of funds with $8 billion in AUM focused on venture capital. Since 2007, Mel’s team has backed firms like Thrive, Founders Fund, Sequoia, and Alt Capital, and powers the data behind the Forbes Midas List. Before TrueBridge, Mel co-founded UNC Management Company (UNCMC), where he worked closely with the President/CIO to manage over $2 billion of endowment capital for the University of North Carolina. We covered:

• Investing in frothy markets
• Doubling down on winners
• Seed vs multi-stage
• Picking managers

Timestamps: (0:00) Intro (1:10) AI valuations and a frothy market (4:35) Long term market risks (7:18) Should VC funds keep getting bigger? (9:37) 10% of the market is the signal (14:08) Venture math debate (18:05) Characteristics of great investors (20:46) The case for seed stage firms (23:09) Picking managers (24:59) Big wins and big misses (30:12) It’s hard to kill a good brand (33:06) Building a concentrated portfolio (36:53) Advice to young LPs More on Mel: https://truebridgecapital.com/ https://truebridgecapital.com/team/mel-williams/ More on Jack: https://www.altcap.com/ https://x.com/jaltma https://linktr.ee/uncappedpod Email: friends@uncappedpod.com

🎤 SPEAKERS

• Mel Williams

  guest

• Jack Altman

  host

🧾 EPISODE SUMMARY

In this episode of Uncapped with Jack Altman, featuring Mel Williams and Jack Altman, Inside the Mind of the Investor Who Backed Josh Kushner, Peter Thiel, and Marc Andreessen | Ep. 34 explores trueBridge’s Mel Williams on AI froth, signal, and conviction Mel Williams, co-founder of TrueBridge (a major venture fund-of-funds), shares a 2025 market read: deep excitement about AI’s decade-plus opportunity alongside froth, especially at the earliest stages.

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