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Gavin Ezekowitz

Co-founder & chief investment officer, BFA Global Investors

Built a career across capital markets and investment banking, then became a venture and growth investor.

Real Alpha has cut 8 moments of Gavin Ezekowitz (Co-founder & chief investment officer, BFA Global Investors) talking, from an interview on How I Invest published Oct 28, 2026.

What Gavin Ezekowitz said

  1. How I Invest ·

    Gavin Ezekowitz on AI Valuations, Asymmetric Returns, and Why Great Investors Fail

    8 moments · 38 min

    1. 9:07

      Underwrite the team and milestones, not a distant market forecast

      “the current revenue and revenue projections are so imperfect both on the part of ourselves, other investors, and the company themselves”
      at 13:24
    2. 29:19

      Venture returns require convexity, pacing and position sizing Pro pick

      “the very difficult part for investors is to understand that venture is a great twenty year asset class.”
      at 31:44
    3. 48:09

      Avoid letting macro timing override your investment mandate Pro pick

      “if I am taking too big a macro leg view, too big a macro view on allocating capital, I'm doing you a disservice”
      at 49:05
    4. 1:49

      Early AI markets can produce more than one leading company

      “what I missed, it's so clear in that company now, is that that was a company that iterated multiple times on their journey.”
      at 5:31
    5. 26:59

      SpaceX's compute buildout shows the value of anticipating shortages

      “In fact, I passed on XAI in that $25,000,000,000 early round. I just couldn't understand it.”
      at 27:10
    6. 37:28

      Small funds can turn a focused founder network into an edge

      “small funds, early funds, well, managers with a very clear network can produce really incredible outcomes by being close to founders.”
      at 38:15
    7. 43:18

      Small initial stakes can dilute a fund's biggest winner

      “if they didn't get enough of the company in that pre seed stage, because of the nature of how they were investing, their returns just got so diluted”
      at 43:34
    8. 1:06:49

      A manager's response to a mistake can end an LP relationship

      “when you are candid about those things, and then when you are clear about what actions you've taken”
      at 1:09:21

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