Not that long ago, venture capitalists took relatively passive roles with their investments. Besides a decent rate of return, the only expectation was really just a seat on the board. It was the epitome of a transactional relationship. Today, all that has changed. With the exception of maybe a few remaining “traditionalists,” most VC relationships are becoming more similar to partnerships.
But these relationships are largely dependent on more nuanced dynamics, like mutual respect and trust. You can’t expect to walk in, hold out your hand, and secure funds — it doesn’t happen like that. For this reason (and many others), I always recommend approaching relationships with VCs in the following ways: