I’ve obviously been a little busy recently, so haven’t been blogging at all. Hears to a less busy 2015 with more time for blogging!

I recently read a good article on micro-VCs. This market has really expanded, but who knows if it’s actually the return of the old school venture capital fund (size, focus) or if it’s a new thing.

The author makes takes the position that “The concentrated return profile of Venture Capital makes it virtually impossible to envision a scenario where more than 50 firms produce the necessary returns to earn alpha returns, particularly when an inevitable market cycle shift is factored in.” He thinks only 50 of these funds will still exist in 2020. I’m not sure I really agree with this, mainly because successful entrepreneurs like to become VCs and I think it’s likely that people will keep finding ways to start new, tiny funds.

Regardless, the article is a great overview of the market. Worth a read.