Venrock raised a new, $450 million pool of capital today to continue our mission to invest in early stage technology and healthcare businesses that are taking novel approaches to solving important problems. While the fund size and overall strategy remain consistent with prior funds, our implementation and approach evolves constantly and unpredictably. People, trends and technology change so quickly that pattern recognition from prior experience is more likely to lead us astray than provide advantages in identifying or building great businesses. We drive ourselves every day, to challenge our assumptions and beliefs, to learn, stretch, re-evaluate and take-in new data. There is no repeatable roadmap and continued excellence will require as much effort, creativity and luck as we can muster.
The path to finding “great” entrepreneurs and “great” ideas is winding and foggy, at best. The uncertainties and challenges on the decade plus journey test the fortitude, creativity and resilience of all involved. But when you get it right, there is no better feeling – as much because of the problems overcome and relationships forged along the way, as the scale of the outcome (though our investors really do like the outcome…). We look forward to giving it our absolute best for this new fund, Venrock 9.