Emerging managers are key players in the VC space, with the potential to steer founders to successful exits and deliver significant returns for investors. To cement their position as a powerful segment of the venture community, emerging managers need to maintain momentum as they work to successfully raise Fund II.

At a virtual panel discussion hosted by Level Ventures, First Republic Bank and All Raise, a panel of fund managers and LPs shared advice and insights on how to take the leap from Fund I to Fund II. Many emerging managers faced real fundraising challenges in 2020 with the effects of coronavirus, panelists say, but big opportunities now lie ahead.