The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: The Truth About Multi-Stage Firms; Why Portfolio Services are for VCs not Founders | Why Politics is Rife & Decision-Making is Broken in Large VCs | Why Reserves are Bad for Founders & How Boutique Firms Will Win with Mark Goldberg @ Chemistry
Oct 25, 2024
Mark Goldberg, Managing Partner at Chemistry and former partner at Index Ventures, dives into the intricate world of multi-stage venture capital. He reveals how portfolio services often prioritize VC interests over founders, discussing the pitfalls of large partnerships and decision-making breakdowns. Goldberg forecasts a shift from commoditized to boutique VC firms, reflects on the highs and lows of unicorn investments, and emphasizes the importance of genuine investor-founder relationships in shaping the future of venture.
56:21
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Quick takeaways
- Multi-stage firms often prioritize portfolio services for their own benefit, which can hinder personalized support for founders.
- Chemistry aims to redefine venture capital by fostering direct relationships between experienced investors and founders, enhancing quality over quantity.
Deep dives
The Purpose of Portfolio Services Teams
Portfolio services teams in venture capital often serve the interests of the VCs rather than the founders, which can create inefficiencies for the startups. This structure is seen as an attempt to scale something inherently unscalable, where the focus shifts from founder relations to administrative management. Such teams might provide support but often dilute the investment's personalized attention that founders need. A more optimal model frames a direct relationship between experienced investors and founders, ensuring that founders' needs are prioritized.
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