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This is a bigger deal than just the arrival of a new VC fund. It is, as far as I know, the first VC fund run by hackers. Almost all existing VC funds are run
by pg 18y ago
This is a bigger deal than just the arrival of a new VC fund. It is, as far as I know, the first VC fund run by hackers.
Almost all existing VC funds are run by business/finance guys. I know a total of two VC partners who write code. And one of the two only made partner last summer.
- jacquesm 18y agoWould you not consider YC to be a venture capitalist ? Or do you characterize it as an angel operation ? From the homepage "Y Combinator is a new kind of venture firm specializing in funding early stage startups. We help startups through what is for many the hardest step, from idea to company." You definitely strike me as a hacker :)
- pg 18y agoFirm != fund. A fund invests other people's money, in return for management fees and a percentage of the net return. Though of course the partners can have some of their own money in the fund. We're financially more like angels, but systematic like a fund.
- fallentimes 18y agoAre there many funds that invest $100,000 - $500,000? From the people I've talked to, that seems to be one of the hardest amounts to raise. Too big for angels, too small for VCs. Matt Maroon has some good stories about this.
- pg 18y agoSome big funds are willing to invest small amounts. Sequoia will, for example. But the big funds can't do too many deals like that, or it breaks their model.