As we closed the Industrial Technologies Fund and started investing, I became a general partner in the fund and joined the btov partnership.” The venture partner period in 2016 gave both me and the btov team a flexible format to get to know each other. Being a general partner in a venture fund is a long-term commitment. Robert Gallenberger, General Partner at btov VC: “ During the time we were raising the btov Industrial Technologies Fund, I worked with btov VC as a venture partner. Fundraising partners are not brought on fully because the fund can’t afford to bring on another partner at the time, like in the case of Albert Wegner and Union Square Ventures. As soon as the fund is successfully closed, they become a full general partner. In other cases, they bring important expertise or a great fit for the next fund generation. Very often, those partners are brought in with the hopes to access their network of fund investors. Almost all of the time, these partners work part-time with one or very few portfolio companies.įundraising partners join a VC on a limited contract while they help the partnership raise an additional fund. This case is especially relevant in later-stage portfolio companies. Second, they may bring a special senior-level industry network that investors at the fund do not have access to. In some European countries, funds are not allowed to send their own investment professionals into boards for regulatory reasons. If the investment partners do not have the necessary time, they tend to delegate a board member they trust. First, funds want to bring the best board members possible into their portfolio companies. You might also hear the acronym ‘NED’ (non-executive director) used to refer to this kind of work.īoard partners are brought in for two reasons. Compared to operating partners, who often focus on a function like growth, hiring or fundraising, board partners are non-executive directors. I am thereby a part of the co-creation of every business that I mentor, helping the founders with their first steps.”īoard partners also work in the portfolio companies but focus on strategy and governance work. by pressure-testing ideas or giving them input on the intricacies of fundraising. I work closely with the founders and support them e.g. Gesa Miczaika, Venture Partner at Entrepreneur First: “ My role as a Venture Partner at Entrepreneur First is to coach the founders and to help them on their path to acquire seed funding. This is an execution-oriented role for professionals who are getting their hands dirty. They work with the portfolio companies after the fund has invested and help them define go-to-market, accelerate growth or get ready for the next stage in their journey. They typically have a clear speciality, for example, growth marketing, strategic finance or product design. Operating partners help create value within the portfolio. They might not have these exact titles but the categories help better understand how venture capitalists think. It is not uncommon for fund investors to first invest their own capital into the fund and later start helping out under the title of venture partner.īut before you go looking for a venture partner job, it’s important to know the five broad kinds of venture partner roles that exist and how your experience might fit into these roles.Įvery venture partner out there probably falls into at least two of the below buckets. The role can also be a way for founders or operators to put their skills and knowledge to work advising companies. Being a venture partner can be a path into a full-time investment role at a VC fund, especially attractive for someone with significant experience in working in the startup ecosystem but not necessarily in VC.
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