Jerry Neumann on why corporate VCs can be OK and do not simply suck as per Fred Wilson.
The tl;dr version is:
– corporate VCs can indeed be annoying blockers of fundraising or sale as Fred points out
– their strategic changes make them short term partners, since they usually lose their mandate and go zombie, maybe before the startup itself
– and making money as VCs isn’t their mandate – causing friction with the real VCs
But they are good if you understand them:
– they might intro you to customers
– they give you some brand validation in your business
– because they are not money motivated they will leave you alone on the “get big fast” type themes that CEOs end up regretting
Still, insofar as “raising money” = giving board seats = fire the ceo & blocks on fundraising or sale, then I don’t like them either.