To finish off our TCWEEK Sessions in Vegas this Wednesday, SoftTechVC founder Jeff Clavier shared the reason why VCs are in the business – and it’s not for the returns.
We’ll let Clavier speak for himself:
“You’re not a VC because you want to make money, because that’s the worst way to make money, because most VCs don’t make money – no, seriously, it’s true. Venture capital over the last ten years has basically sucked balls and barely returned the capital they were given. So to me, what makes it stick is the opportunity to work with awesome entrepreneurs who have a crazy vision of the world, and have a very, very small chance of succeeding, but if they succeed, they can actually build an enduring, successful, long-term brand,” said Clavier. “At the end of the day, we’re not the guys who are here to be in the limelight. We’re here as supporters, we’re catalysts, and if we can get our entrepreneurs in the limelight and see them succeed, that will be our return.”