Benchmark's Gurley cautions LPs about overfeeding oversized funds
Benchmark Capital General Partner Bill Gurley tells LPs at Thomson Reuters' Venture Alpha 2012 conference in San Francisco that there are a number of brights spots in the VC industry, but he’s worried that they didn’t learn to be wary of funds in excess of $1 billion. His message for institutional investors: Stop blasting money at what have historically been top-tier venture funds, please. It’s bad for the industry. . “You’re not in the stands,” he said. “You’re in the field. And when you allocate obsessively to firms in the top quartile, it will have an impact on how things play out.” . Video date: Oct. 18, 2012
18 October 2012•1 min read
