I often tell our portfolio company founders the following: at Kepha, we’re playing a 20-year game. I think having a long time horizon affects what we do, why we do it, and how we behave. It sets a very high bar to which we aspire. It’s not always easy, and we don’t often hit those
Category: Technology and VC
Venture Capital and Its 33% Success Rate
Fred Wilson has another awesome post today about how hard it is to create real companies. He wrote: I have said many times that early stage VC is a lot like baseball, if you get a hit one out of every three times, you are headed to the hall of fame. And if I look
Authenticity Can Come from Saying ‘No’
Another busy day today. One of my morning meetings was with an entrepreneur I know. I read his materials before he arrived and sent him an email saying we were unlikely to be a funding source, as we don’t know that space (selling hardware through waste management companies to hospitals). But, I said I was
The Incredible Shrinking Venture Capital Industry
I continue to get queries from people on “How to Get a VC Job.” I always tell them that it’s tough to enter the business, given that the industry is consolidating. Most folks continue to want to try, and I understand that. But, here’s a picture that I think does say a thousand words. We’ve
The N.E. Patriots, Innovation, and ‘Rise and Grind’
I often chuckle when I read articles about “successful” entrepreneurs and their multi-billion-dollar exits. It seems so easy in these news pieces: a good idea, superior execution, and everything falls into place. Geniuses snap their fingers. Fortunes follow. The reality, in my experience, is different. There can many heartbreaks, pivots, layoffs, and divorces. There are usually
New ‘Coffee Connect with a VC’ Leaders
I’ve met many entrepreneurs. Two who impress everybody are Sravish Sridhar and Rob May. Given that, the New England VC Asssociation has asked them to lead the “Coffee Connect with a VC” series. As I’ve written previously, I think there’s a huge need for entrepreneurs and VCs to get together for regular, open/inclusive, and meaningful