By guest authors Irina Patterson and Candice Arnold Anu: The other thing people need to understand is that technology is becoming mainstream. When technology becomes mainstream, you get winners and losers. And what’s happening now is it’s getting harder and harder to be a big Internet player. And, you could say that for biotech, too,
By guest authors Irina Patterson and Candice Arnold Irina: What is Sand Hill’s sector preference? Anu: It has to have technology or some sense of innovation to it. We’re not going to do a classic consumer goods company or a real estate company. It has to deal with technology in some way. Mostly, IT, some
By guest authors Irina Patterson and Candice Arnold Irina: You were talking about alternative energy. Do you have special expertise and connections in the space? Michael: We have lots of connections in the space, in both industry and academia. But a lot of it is really because my other partners and I – this is
By guest authors Irina Patterson and Candice Arnold Irina: What are other important factors for you when you make your decision about any particular entrepreneur? Anu: One of the biggest factors is, Is this something you’ve done before? Are you someone who’s worked at Oracle and is now doing a database company? Do you know
By guest authors Irina Patterson and Candice Arnold Irina: What do you usually allocate for interns to do? Michael: It depends on the timing of the work. A lot of it is helping out with the screening of companies. Some of the stuff is helping with logistics at our meetings. Also, some of it is
By guest authors Irina Patterson and Candice Arnold Irina: Can you tell us a little more about your VentureLab? Michael: That’s a separate organization. That’s an organization where we’re directly hired by companies to do a variety of services. It’s like any investment bank or professional services company. We’re working with a company and taking
By guest authors Irina Patterson and Candice Arnold Irina: Do you think about the return you would like to have over a certain period? Anu: We’re different from a VC firm in that we don’t have IRR [internal return on investment], and we don’t have LPs [limited partners]. It’s our own money.
By guest authors Irina Patterson and Candice Arnold Michael: One of the key things that we try to do beyond the dollars, what is more important than any dollars that the investors could bring, is helping the company and being on the board of advisors or board of directors, or we find additional ways to