Comments on: The Sky Isn’t Falling on Venture Capital in Washington State, VCs Say http://www.xconomy.com/seattle/2008/09/09/the-sky-isnt-falling-on-venture-capital-in-washington-state-vcs-say/ Business + Technology in the Exponential Economy Mon, 23 Nov 2009 04:44:48 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: Krassen Dimitrov http://www.xconomy.com/seattle/2008/09/09/the-sky-isnt-falling-on-venture-capital-in-washington-state-vcs-say/comment-page-1/#comment-28130 Krassen Dimitrov Thu, 11 Sep 2008 02:30:41 +0000 http://www.xconomy.com/?p=4764#comment-28130 Well, whatever Waite's recipe is, obviously it is not working. OVP is one of the worst performing funds in the industry for the past 10 years: OVP V has lost 20% per year for 11 years OVP VI has lost 10% per year for seven years OVP VII has lost 25% per year for two years Waite and OVP like you to have the smaller "slice of the pie" so that they can take control of a company and install their incompetent cronies. As a result you not only get a smaller piece but the pie is shrinking as well. Here is what entrepreneurs should do: talk to their Limited Partners. Expose them and embarrass them in front of them. After all, these VC do not play with their own money; it's the pension funds and endowment funds that OVP is wasting so recklessly. In any case that's what I did, and it seemed to pay off at NanoString. They reversed on the throughput issue - as reported on this site - which now gives them a fighting shot. Hopefully it's not too late... Well, whatever Waite’s recipe is, obviously it is not working. OVP is one of the worst performing funds in the industry for the past 10 years:

OVP V has lost 20% per year for 11 years
OVP VI has lost 10% per year for seven years
OVP VII has lost 25% per year for two years

Waite and OVP like you to have the smaller “slice of the pie” so that they can take control of a company and install their incompetent cronies. As a result you not only get a smaller piece but the pie is shrinking as well.

Here is what entrepreneurs should do: talk to their Limited Partners. Expose them and embarrass them in front of them. After all, these VC do not play with their own money; it’s the pension funds and endowment funds that OVP is wasting so recklessly.

In any case that’s what I did, and it seemed to pay off at NanoString. They reversed on the throughput issue – as reported on this site – which now gives them a fighting shot. Hopefully it’s not too late…

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