Venture capitalists (VCs) often present themselves with a superhero-like persona, despite being asset managers at their core. This article explores why VCs adopt such a narrative. The author recounts a meeting with the chief investment officer (CIO) of a large public pension fund, who typically doesn’t engage directly with venture capital funds. Instead, the fund invests through a fund of funds, meaning they invest in other funds rather than directly in startups. The CIO, not being deeply involved in tech circles, is less exposed to the direct pitches and the superhero rhetoric often used by VCs. This approach by VCs is likely a strategy to attract attention and investment by portraying themselves as saviors of innovation and technology, which can be appealing to potential investors who are not deeply embedded in the tech world.
QUESTION: Why do you think venture capitalists choose to present themselves as superheroes, and how might this influence the perception of their role in the tech industry?
What VCs sound like to normal people
