Venture capital general partners (also known as "venture
capitalists" or "VCs") may be former chief executives
at firms similar to those which the partnership funds. Investors
in venture capital funds (limited partners) are typically large
institutions with large amounts of available capital, such as
state and private pension funds, university endowments, insurance
companies, and pooled investment vehicles.
Other positions at venture capital firms include venture partners
and entrepreneur-in-residence (EIR). Venture partners "bring
in deals" and receive income only on deals they work on (as
opposed to general partners who receive income on all deals).
EIRs are experts in a particular domain and perform due dilligence
on potential deals. EIRs are engaged by VC firms temporarily (six
to 18 months) and are expected to develop and pitch startup ideas
to their host firm (although neither party is bound to work with
each other). Some EIR's move on to roles such as Chief Technology
Officer (CTO) at a portfolio company. |
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