{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Alt Goes Mainstream: The Latest on Alternative Investments, WealthTech, & Private Markets","title":"Stories from building Blackstone, Airbnb, and private markets with Laurence Tosi of WestCap","html":"","width":"100%","height":180,"duration":4561,"description":"“The room where it happens …No one really knows how the game is playedThe art of the tradeHow the sausage gets madeWe just assume that it happens But no one else is in the room where it happens …When you got skin in the game, you stay in the gameBut you don’t get a win unless you play in the game.”Welcome back to the Alt Goes Mainstream podcast. These excerpts were in a song by Leslie Odom Jr. and Lin-Manuel Miranda from Hamilton. But they could also be applied to the conversation Laurence Tosi of WestCap and I had today.Today’s show is with someone who has been in the room where it happens. Stories and perspectives shared today were from someone who has helped turn bills into laws in private markets.Laurence Tosi has been part of building foundational technology businesses and companies in capital markets and private markets – from investing in and building Ipreo, iLevel, TMC Bonds, and Tradeweb as an executive at Merrill Lynch where he served as COO of Global Investment Banking and Trading, building Blackstone from 2008-2015 as the CFO, Management & Risk Committee Member, Head of the Tech Innovations Fund, and Blackstone Treasury Solutions Fund, and building and scaling Airbnb as CFO and Head of Payments, Customer Experience, and Corporate Development.At Merrill Lynch and Blackstone, L.T. deployed $500M of capital, returning over $1.6B without taking a loss.He's now building WestCap, a $7.6B growth investing firm that L.T. characterizes as an “operating equity firm” that helps founders and companies scale their businesses at the inflection point in between traditional venture capital and private equity. L.T. and WestCap have leveraged their collective operating knowledge to invest in a number of industry leaders, including two industry defining companies in private markets, iCapital and Addepar. They’ve also invested in the likes of SIMON, which was acquired by iCapital, GoodLeap, Sharegain, Klarna, Paxos, AccessFintech, Treasury4, Hopper, Avenue One, StubHub,...","thumbnail_url":"https://img.transistorcdn.com/AFAZ1vkAT92lFJtqt-r0HeFQ55KTdcbJHmgKXaMlAtY/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzE5MDA4LzE2MTQ1/Mzk1MDUtYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}