Lo Toney on GP Fundraising Strategies and Paris Hilton’s Call to Rebuild After Altadena Fires

Lo Toney reveals strategies for GPs raising $50-500M, while Carter Reum and Paris Hilton lead efforts to rebuild lives after the devastating Altadena fires. Learn how you can make a difference.

💔 Join Paris Hilton & Carter Reum in Supporting Families Impacted by the Altadena Fires 💔

The devastating fires in Altadena have left hundreds of families without homes, and the need for support has never been greater. Investors Carter Reum and Paris Hilton, who personally lost their Malibu home, are turning their heartbreak into action.

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Their efforts include 🏠 securing shelter, 📦 providing supplies, and 💵 offering essential assistance to families now living in shelters with nothing.

Carter and Paris are also volunteering on the ground, working tirelessly to help these families rebuild their lives.

But there’s so much more to do. Every donation makes a difference, no matter the size. Together, we can extend this critical support to even more families in need.

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Let’s come together as a community to rebuild and offer hope to those who need it most. ❤️🙏

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Mastering Fundraising for $50-500M: Insights from Lo Toney

I’ve been wanting to interview Lo Toney for a long time. For GPs aiming to raise venture funds in the $50-500M range, Lo Toney, founder of Plexo Capital and leader of the GPX accelerator, offers a wealth of practical knowledge that investment firm leaders can implement right away. There are very few investors that can address the problems and challenges faced by $50M-$500M funds, as well as Toney.

Chances are, if you’ve walked through an airport and glanced at a TV, you’ve seen Lo Toney on CNBC, sharing his insights.

Drawing on his personal journey and experience guiding others, Toney explains how emerging managers can evolve from skilled investors to institutional-grade fund managers.

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The Birth of GPX: Filling a Knowledge Gap

Toney’s journey to creating his venture capital GP accelerator, GPX began with a realization about his own career. “I didn’t come from a traditional venture capital firm,” he said. “At Google Ventures (GV), where I really learned a lot about investing, we didn’t have to do a lot of fundraising with external LPs. GV had an incredible infrastructure—tip of the hat to David Krane, the CEO—for putting that in place. It allowed us to just focus on investing and not worry about the operations of a fund.”

But Toney knew this wasn’t the norm. “The thing I didn’t have to do at GV was the fundraising, reporting, and operational work that most fund managers face,” he said. “I realized there’s a dangerous blind spot: not knowing what you don’t know.”

To address this, Toney began gathering resources for himself and others. “I put together links, research papers, and spreadsheets on topics like budgeting, portfolio construction, and fund admin,” he said. “I’d send an email template with all these resources to GPs I’d met with, and the feedback was great. That was the lightbulb moment for me.”

This effort grew into GPX, a program designed to help GPs transition from fund one to fund two or three. “We’ve had over 750 individuals sign up for our content, and we’ve run five cohorts of 10 to 12 GPs,” Toney said. “It’s not really an accelerator per se—it’s more about providing valuable resources for GPs as they move from being great investors to great fund managers.”

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How Lo Toney Became a Go-To Voice on CNBC

Lo Toney's rise to prominence on CNBC and other platforms was a mix of preparation, expertise, and a bit of serendipity. As he recounted in our interview:

"My then-girlfriend, now fiancée, and I were planning a trip to Palm Springs... This must have been right before the pandemic. I get a DM on Twitter from a producer for a show on CNBC that’s no longer on, called Tech Check."

The producer was looking for a Silicon Valley voice with the ability to speak about both public and private markets. Toney’s unique background in macroeconomic trends like interest rates and bond yields, coupled with his VC expertise, made him the perfect fit.

"My background is really more on the public side in terms of understanding macro trends... Then I discovered venture capital, and that’s where the transition happened. I’ve got this really unique dual understanding of both private and public [markets], plus my product management and tech experience."

Toney’s ability to deliver engaging and insightful commentary clinched the opportunity:

"I’d say a few catchy things on the front end every now and then, and it just kind of snowballed from there."

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To read this article and all other interviews with advice from veteran fund managers, subscribe here. Also, if you need fund templates that are institutional investor ready, you can download them from the #templates channel in our Discord chat!