The Brutal Truth About Starting a Fund—And Why Most Don’t Make It | Ep 244 with Patrick William Founder of Rixon Capital

Patrick William didn't take the safe route. In this episode, the former tech/media M&A banker turned private credit fund founder reveals how he bootstrapped Rixon Capital from a $3M cold-call raise into an internationally respected firm—all without institutional backing. From burning the boats to turning down Plan B, Patrick shares the psychology, risks, and raw reality behind building a fund from scratch.

Key Discussion Points:

• 
  

  Why starting a fund is like flying a plane with only one engine

  
  


• 
  

  The real reason raising capital is harder than most people think

  
  


• 
  

  Management fees, performance fees, and how fund managers actually make money

  
  


• 
  

  What investors really want (and why they’re happy to pay for boring returns)

  
  


• 
  

  Why most high-paying careers hold people back from entrepreneurship

  
  


• 
  

  The “burn the boats” mindset and why it separates real founders from dabblers

  
  


• 
  

  Capital trends in Southeast Asia—and what excites him most about the region

  
  


• 
  

  Why patience is the secret weapon behind long-term returns

  
  

Takeaways:

• 
  

  Great ideas aren’t enough—storytelling and persistence close deals

  
  


• 
  

  Investors aren’t just buying returns—they’re outsourcing stress

  
  


• 
  

  “Mindless self-belief” is a founder’s most underappreciated asset

  
  


• 
  

  Sometimes, the only way to win is to make sure there's no way out

  
  

Closing Thoughts:
Patrick William isn’t just building a fund—he’s redefining what smart, disciplined capital looks like in a noisy world. His story is a masterclass in conviction, patience, and making boring look brilliant.