Entrepreneurs shouldn’t select their investors based on how much money they have made for their limited partners. The best VC for an entrepreneur is a partner who doesn’t care what other investors think, doesn’t take up the entrepreneur’s time with a lot of diligence, doesn’t pull out his Blackberry in meetings, and doesn’t ask dumb questions. The right partner makes investment decisions quickly, shows up to meetings on time, pays attention, lets management run companies, treats the entrepreneur like a peer, and conducts himself with humility and trust.
(Full Post: http://venturehacks.com/articles/vc-industry-doomed)
Babak Nivi is a co-founder of AngelList and Venture Hacks. Previously, he was an entrepreneur-in-residence at Bessemer Venture Partners and Atlas Venture. He has worked on startups including Songbird, Grockit, and Kovio. He went to school at MIT where received 2 patents and published in Science.