The Key Functions of a Fund

An investor identifies a startup. Maybe they read about it or more likely a friend of theirs who's an entrepreneur that they've invested in the past says, hey, you should check out this company. That's actually the single best way to get introduced to a venture firm and introduced by one of their entrepreneurs. The general function of the associates is to turn through as many meetings as possible and act as the human filter to try to find interesting deals. Most venture funds are run on a quasi-consensus basis.