The VC firm in business for the fees was mostly a product of the Internet Bubble of the late 90s. There were still a significant number around when I wrote tha

The VC firm in business for the fees was mostly a product of the Internet Bubble of the late 90s. There were still a significant number around when I wrote that 6 years ago, but in the last few years (and particularly since 2008) the bad firms have been ruthlessly pruned. No VC whose name you recognize will invest in bad startups to get the management fees.