Venture Fund Quotes

You see 6,000 times more tech companies in San Francisco than you see in Seattle. All the money is in San Francisco when you look at the venture fund maps. The PR is in San Francisco. The centricity of the industry is in San Francisco.

If I were to leave and raise a venture fund, I would have to find 10 or 100 LPs. They would all give me a bunch of money, and I would take a percentage of that to pay myself. They would expect me to invest that over the next three years, and they want that money back in seven or eight years.

With a regular venture fund, you raise, let's say, a billion dollars, and then over the next three or four years, you've got to invest that money; otherwise, the people who invested with you will say, 'What are you doing? You're just collecting fees on our money.'

When you're fundraising for a venture fund, you're supposed to not talk.

Probably, if I created a venture fund, I would create a firm with virtual services not too different from the a16z model, but without employing people. So I would get CPOs, engineering talent, marketing people who wanted to be involved with the venture fund and provide services.

Blockchain Capital was the first dedicated venture fund to invest in crypto and blockchain.

Kai-Fu's Innovation Works is the top very-early-stage fund in China. We are proud to be an investor, and hope that IW will help to produce in China companies on the scale of Facebook, Zynga, or Groupon.

The individual dynamics going on within a venture fund are critically important to you. Unfortunately, they're also very opaque.