That’s the question posed by Charley Polachi at Private Equity Hub.
The results of a survey of over 1,000 VCs seem to indicate that it is, and the industry as a whole is in need of a ‘reset’ – both in terms of the number and type of companies involved, and in terms of their attitude to ‘innovation.’
Although in one conversation, one of the partners shared with me an ironic observation – he works in an industry that preaches innovation and it is all about creating new businesses and investing in new ideas, but the venture industry itself – doesn’t want to change! It is barely a 30 year old industry but slow to change, almost institutional in its view of itself as it relates to structure, fees, compensation, succession planning, etc.