I want to make a short note on ”ideal VC partners’ background.”
- Serial entrepreneur, who has done before and gained successful X-multiple returns,
- Senior executive with two digit years experience at a world-class enterprise, who has successfully climbed corporate ladder and run large a business unit and had P&L responsibility.
- Experienced portfolio manager, who has gone through entire fund life cycle from the beginning to the end and made a visible top quartile return with heavy involvement with portfolio companies,
- Experienced equity sales manager, who has gained his knowledge in finance and equity sales and relationship from past I-banking experience; and
- Others such as journalist, product designer (or marketer), business development specialist, technologist, professors, head hunter, lawyer, etc. who have done extensive work around venture development.
I wouldn’t say which skill-set or background is more relevant to make a strong VC firm, but in a nutshell, operational experience (unless partner wants to get involved with a LBO type of deal) is a key to succeed. That’s something what entrepreneur and investor have to bear in mind to select a right firm to partner with.