Recruiter Jon Holman on the VC Job Scene and the Transitory Nature of Greatness
Recruiter Jon Holman has seen a lot in his 30-year career, working with venture capital firms like Accel Partners and Sequoia Capital and their portfolio companies. In the ‘80s, when he placed the occasional GP, it was a matter of plucking someone from an investment bank or operating position. In the go-go ‘90s, the business of GP searches became brisker, though “you weren’t going to pry a GP from an existing fund; that just didn’t happen,” according to Holman. Then came the Great Implosion of 2000. A wave of VCs looking to jump ship because of internal dynamics or poor performance was eventually followed by those grown desperate to land something else before their funds dried up. Indeed, according to Holman’s estimates, roughly 100 VCs were “loose in the saddle” by 2007. By 2009, Holman was fielding calls around the clock, many from GPs who had either left their firms or would have to soon. The industry still isn’t done spitting out VCs, says Holman.
