The VC business, for a fund manager, is an orgy of rejection. During the course of a year, we will touch 1,000 companies at Amasia; we'll invest in three (maybe four, sometimes two). What this means is that on 997 occasions, we're saying no.
It's spring, which means the thoughts of VCs turn lightly to thoughts of demo days. Many accelerators have their demo days in March. If you haven't been to one, these are celebrations of entrepreneurship; 21st century business theater. Meeting many, many companies and founders in a concentrated period produces the following reflection.
In 2000, I joined hands with Deval Sanghavi and formed Impact Partners, at the time the first venture philanthropy firm focused on India.