Insights from 14 Years in Venture Capital: A Comprehensive Guide to Success in the Industry

Venture capital is one of the most varied industries out there. Very few careers let you jump between sectors, immerse yourself in the latest tech and trends, or meet some of the most talented people around – all as a routine part of the job.

I was lucky enough to do it for fourteen years. I would have needed to walk around with my eyes closed and fingers in my ears not to learn a thing or two. Now that I’ve stepped back from making investments into a role designed to support the next generation, it felt like a good time to reflect. So I thought I’d share a lesson per year (which is really just a convenient way to whittle down what otherwise could have been a memoir).

Here are some things I hope fellow investors, budding founders, and anyone curious about the ecosystem might find useful.

1. Be the last to leave

I don’t mean the office. I mean be the last person to leave the investor dinner, the networking drinks, the launch party. Of course, there’s a balance to be struck. And with childcare and other commitments, this might not be practical at every stage of your career. But, where you can, there’s no shame in sticking around or indulging in a few more drinks every now and then.

I think people can be too self-conscious and worry about being seen to have “too good” a time at a work event. An occasional bit of light‑hearted merriment isn’t going to end your career, and I find that most honest conversations happen when the crowd thins and guards are down. So don’t rush home in fear that the welcome prosecco might actually have an effect.

2. Never underestimate your network

Your network is far bigger than the people you see or speak to regularly. When you think about how many people you know tenuously, at one remove, or through one random conversation at a conference five years ago, it’s vast. Make use of those looser connections.

Some of the best opportunities in my career (including my current role) came through people I had no idea would help me as much as they did.

3. The ecosystem is smaller than you think

Your network might technically be infinite, but the ecosystem is always a smaller place than you think. Just as your reach extends further than you realise, the reverse is true – people will know of you indirectly and reputations exist for a reason. It’s not your closest industry friends who decide what yours is; it’s the people on the periphery who spread the sentiment outwards. Make sure you’re giving them something good to pass on.

4. Informal intel can be most valuable

A big part of my job as an LP was conducting due diligence on a fund before making an investment. Some of the best decisions I ever made came from sleuthing through “informal” channels – getting intel from people who trusted me enough to confide the truth rather than the party line. It’s been the reason I have, and haven’t, made investments in the past.

5. Due diligence isn’t just for investors

Due diligence is not just for investors, of course. To founders, I’d say understanding who your backers are and what they bring to the table is just as important as impressing them. Ask around, get the inside track. Be discerning, be “choosy” even. Your cap table is yours and it should help you thrive, not just survive to the next raise.

6. EQ and IQ are equally important

This is a people business. Whether you’re a founder building your team or a VC trying to support your portcos, being able to manage and communicate with people is crucial. You don’t need to be the best speaker or a social butterfly, but you do need to have empathy – and respect and reward it in others.

7. Diversity and excellence are not mutually exclusive

Diversity for diversity’s sake doesn’t deliver lasting change. I’m resolute in my commitment to building a fairer, more diverse ecosystem, but this doesn’t come at the expense of pursuing excellence. Real progress doesn’t come through abstract commitments or friendly statements. It happens when we genuinely set out to hire the best people, and recognise that diverse teams aren’t just a “nice to have“.

Diversity prevents stagnation, sparks innovation, and drives better results. Over the years, I’ve lost count of the amount of times I’ve heard businesses and VC firms put their lack of diversity down to the fact they “can’t find the right talent.” I still don’t buy it.

8. Know your limits

As much as some might try and convince you otherwise, no founder or VC can be an expert on everything. Embrace it and plan accordingly.

For founders, making sure those crucial first few hires help to cover off some of the areas you have less of a grip on can be the key to success. For investors, we’re often working on gut instinct, sometimes having to weigh up opportunities in industries we’ve never come into contact with. Understanding your own blind spots and seeking out real expertise to improve your judgement can make all the difference.

9. There is no “best” model for VC

The best VC backer for you will always depend on the nature of your business and the style of support you need. Not everyone needs an Andreessen-style platform to flourish.

It’s also important to remember that the biggest “brand” isn’t always the best investor. Big-name funds can offer great access to opportunities and contact that will help you grow your business. But at the same time, these funds can often be quick to drop companies that they don’t immediately believe will offer great returns.

By contrast, those with smaller portfolios may well be hungrier, and more willing to put the hard yards into nurturing founding teams and helping them overcome hurdles. It is when things aren’t going to plan that you’ll see the true nature of your investors.

10. Embrace the career “lattice”

Forget the career ladder. In venture especially, it can feel like there’s a prescribed route: Analyst, Principal, Partner.