How We Built a $1B platform across 4 funds | Greg Warnock, Mercato Partners

How do you build a private equity firm that thrives for nearly 20 years?In this episode of Funds That Won, Lincoln sits down with Greg Warnock, Founder and Managing Director of Mercato Partners, to discuss the journey from launching a $52 million first fund to managing a $1B platform across 4 funds.Greg shares the story behind Mercato’s founding, the lessons he learned from building multiple investment firms, why disciplined growth investing has remained effective for nearly two decades, and how artificial intelligence is reshaping the future of private markets.The conversation covers fundraising, institutional LP relationships, portfolio construction, AI investing, succession planning, and invaluable advice for emerging fund managers preparing to raise their first fund.Whether you’re an emerging manager, venture capitalist, private equity professional, or simply interested in how successful investment firms are built, this episode is filled with practical insights from one of the industry’s most experienced investors.In this episode you’ll learn:• How Mercato Partners grew from a $52M first fund to a $1B platform across 4 funds• Why Greg believes staying disciplined beats constantly chasing larger fund sizes• His framework for evaluating AI investments in today’s market• How institutional investors think about fund managers and portfolio construction• The biggest fundraising lessons every emerging manager should know• Why your first investments can define the future of your firm• The importance of understanding what limited partners actually want before raising capital• Greg’s perspective on succession planning and building a firm that lastsIf you enjoyed this conversation, be sure to like the video, subscribe to the channel, and turn on notifications for more interviews with leading fund managers, investors, and entrepreneurs.#PrivateEquity #VentureCapital #GrowthEquity #MercatoPartners #ArtificialIntelligence #AI #FundManagement #EmergingManagers #Investing #FundsThatWon