Managing Partner, Fund of Funds
Managing Partner, Fund of Funds, IDC Management Denmark ApS
Gonzalo Hinojosa
Gonzalo joined A.GAIN in 2024 and leads VC4, the Fund of Funds strategy – including deal sourcing, capital networks, and portfolio fund management. Thirty years in financial advisory and private equity, including as Partner at NOQCA Partners advising on €10B+ in transactions, and prior roles at Qualitas Equity Partners, Fortis Bank, and UBS. Degree in Economics and Business Administration from ICADE, Madrid. Outside work: golf, sailing the Mediterranean, Real Madrid. Usually has a story about at least one of them.
I've been doing this for thirty years and I still think the relationship is the point. Not the transaction, the relationship. The ones that last are built slowly, usually without anyone noticing, and then one day you realize they're the reason everything works.
I also try not to take myself too seriously. This business has a way of humbling you if you do.
Picking the right managers and then trusting them.
Discipline, integrity, a process they can repeat under pressure. I've watched enough cycles to know that consistency beats cleverness almost every time. The best returns I've seen weren't the result of a brilliant call. They were the result of someone doing the right boring thing over and over when it would have been easier not to.
Difficult conversations with investors who are scared or frustrated. Capital allocation when the picture isn't clear. Designing outcomes fifteen years out when everyone around you is focused on this quarter.
That last one especially. Most people find the long time horizon uncomfortable. I find it clarifying because it cuts out most of the noise and leaves you with the questions that actually matter.
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