Earning Our Carry

As I suggested in a previous post, I think that it might be time for us – and by ‘us’ I specifically mean VCs – to stop complaining so much about the markets. There are ways for most (though unfortunately not all) well managed venture-backed companies, even those still burning cash, to survive downturns, and VCs need to earn their carry by helping their earlier stage companies get through the current turmoil.

Instead of bailing on their companies, VCs should pick up a bucket and start bailing with their companies. 

A Show of Leadership at the NVCA Annual Meeting

With the NVCA Annual Meeting upon us, you can bet that the hallways and banquet rooms of Boston’s Westin Waterfront Hotel will be backdrop to some pretty interesting conversations. Market volatility, difficult fundraising conditions, failing lenders, challenging prospects for portfolio companies and, despite a couple recent fragile-seeming IPOs, an all but shut window for exits should make for a couple good cathartic days of behind-the-scenes venting among colleagues.

Thankfully, the NVCA has avoided the temptation to use apocalyptic exhortations to market the Annual Meeting, which is pretty much already a must-attend event for VCs at old school firms like mine.