Posted under Venture Capital
from 1711 days ago

VCs are experts at analyzing industries and identifying new opportunities, which is why it’s odd that the VC industry itself has so stubbornly resisted change.

Two years ago I wrote a post where I argued that innovative new VC firms are finally starting to change this:

Top tier entrepreneurs are frequently selecting their investors, not vice versa. The VCs most sought after are mostly new firms: big firms like Andreessen Horowitz, Union Square Ventures, and First Round, and micro-VCs like Floodgate (fka Maples), Betaworks, and Ron Conway.

Since then, the trend has become even more pronounced. VC is only partly about investing. It is primarily a service business whose purpose is to help entrepreneurs.

When Andreessen Horowitz (“a16z”) started out three years ago, like a lot of people I thought “OK, really interesting entrepreneurial founders, but how will they be as investors?” Then I started hearing chatter among entrepreneurs ...


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