Good post (as usual) by Fred Wilson on the importance of co-location of venture capitalists and their portfolio companies/management. The last fund I was with invested globally, and maintaining tabs on companies in Seattle and San Francisco (for example) was far more difficult than Philadelphia, even with regular calls and visits. Do this, and you have to open satellite offices, ramp up staffing, etc. Why do this if good (and potentially unique) deal flow is in the area?
Instead of saying "Location x3, I would instead say "Local, Local, Local!"
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