Sadly, in a downturn VCs seem to back their connections (most likely their alma maters) when making choices. It is a bit obvious if you think: They choose ideas

Sadly, in a downturn VCs seem to back their connections (most likely their alma maters) when making choices. It is a bit obvious if you think: They choose ideas which have been pitched by people within 2-3 degrees of connection if they went to same/similar known schools. Although it doesn't change quality or success chances, the proximity provides some degree of personal vetting. In my limited observation, a good number of small startups were still getting their Series B in early 2010, when most folks were still busy laying off or freezing hires. Those did have either a good university brand backing, a serial entrepreneur or both.