Khaled Jalanbo built Valia Ventures from repeated SPVs he personally set up before institutionalizing into a fund, taking an unusually founder-friendly approach with his first fund by offering LPs zero carry and only a management fee to prove performance first. He draws parallels between his experience representing emerging artists and backing founders, thinking of himself as the good gallery that creates demand around under-the-radar talent, and was the first firm to write a check into Humane before it became heavily funded. Khaled Jalanbo built Valia Ventures from repeated SPVs he personally set up before institutionalizing into a fund, taking an unusually founder-friendly approach with his first fund by offering LPs zero carry and only a management fee to prove performance first. He draws parallels between his experience representing emerging artists and backing founders, thinking of himself as the good gallery that creates demand around under-the-radar talent, and was the first firm to write a check into Humane before it became heavily funded.