What is the process of a (new) VC firm raising its first fund?
There are some great answers here already (and there’s no way I’m going to try to top Terrence Yang‘s magnum opus :-), so I will simply point you to a first-hand account of the challenges of VC fund-raising by Alan Patricof, the founder of Greycroft Partners.
(Of course, this may not be quite a similar case to yours, as Alan happens to be one of the patriarchs of the venture capital industry, who in 1969 founded the firm that would become Apax Partners (which has raised only $35 billion so far) and was the one of the VCs behind AOL, Apple, Office Depot, and Cadence Design Systems.
*original post can be found on Quora @ http://www.quora.com/David-S-Rose/answers *
Written by David S. Rose
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