I was brainstorming around this topic with my friend Ivan Shyr from Sussex Place Ventures, and his views are so brilliant that I’m going to just copy and paste.
“I think the skill sets include: - a person who is the public figure & networker (promoter) - a great fundraiser with connection to capital - a builder, someone who has built a successful company - industry connector (someone) who can make the connections for portfolio companies to market/customers especially during early commercializations.
I think the 2 hardest parts of early stage investing are
a) getting the funding journey correct by deploying the correct amount of capital at the right time. If a fund is big enough to support the entire early journey (up to A or A+ round) then the financing risk is off the table because syndicates are not necessary. A group of Partners with the same ideology on how to capitalize a young company so that you neither starve them of capital nor mis-allocate too much capital to companies too early in process is more important
B) unique deal flow”
I think Ivan really hit the nail on the points