Av Changing Name to "Austin Private Equity" to Reflect Corporate Direction
Fund: Austin Ventures
Posted by Anon Y. Mous on 2007-08-16
Venture capital investors are supposed to enjoy and be comfortable with (and, yes, mitigate) risk. But these guys have lost their balls.
The guys at AV are no longer in the "venture" game -- they would much rather make safer later-stage bets for their LPs, such as Staktek. There is nothing inherently wrong with that; they just shouldn't pose like they are entrepreneur-friendly. They're a private equity firm now.
Prestige" Absolutely. But in my opinion, AV's cost of capital is much too high, and I don't mean just financially. Dealing with their egos is DRAINING, trust me. One final note: Their reputation is that they will throw a founder out in less than 18 months and put in one of their CEOs in Residence. Oh, is that not what you signed on for"
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