- have fun (in a business context);
- from a model perspective, try to do what I did as a founder, just better next time, with better founders than me;
- go on some terrific journeys, without having to do all the work myself this time;
- have some chance of making real money if I totally killed it;
- and to do it “better”, with less ego, less drama, no control, no Sony Baloney. To do it the right way, with a smidge less greed, a lot less high-and-mighty, and a bit more zen.
Those are decent reasons to be a VC, but you need to understand it’s a 16-17 year commitment (10-year fund life x 3 funds, staggered 3 years apart).
24 months in, I think I’ve had pretty epic results. I believe my first cohort of investments will do at least 10x, which isn’t as hard as an angel, but is darn hard as a VC, because you have to invest a lot more, and follow-on at higher prices.
It’s a lot more than this. It’s #1 a money management job. And 17 years is a pretty serious commitment.
Sourcing, leading, and closing A+ investments is just 1/3d or so of it, it turns out.