The New Wave
Becky Buckman has a WSJ piece on new-style VCs who invest smaller sums of money, work within a network of known entrepreurs, are more entrepreneur focused, and she claims, are 'shaking thing up in silicon valley'. Here's a link to the piece
Sorry if this link is bad. I am doing this from my blackberry.
Becky's right that there's a new way of doing deals. We've done about half of the investments in our fund this way.
And I suspect the more traditional established firms will start adopting some, if not all, of these techniques
The fact is it costs less to start a web company these days which put the founder(s) in a stronger position
But that doesn't mean that the venture business is at risk. Like all businesses you need to adapt to a changing market environment. We've done that and I exoect most VC firms will do the same