5harathFounding Growth Lead, Willow Voice

Venture Capital is a Service Industry - Adam Draper (Boost VC)

28 Jul 2023 · 1 min

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In this excerpt from the Boost VC interview, Adam Draper (Speaker A) challenges the common perception of venture capital as an elite, opaque establishment. He argues that founding a venture fund is fundamentally similar to founding a startup: it involves tough periods, low early compensation, and the potential for asymmetric returns if executed well. Draper frames his role as a venture capitalist as a service to human endeavor, treating each startup as a customer whose future value he must earn, rather than relying on immediate pay. The conversation highlights the service-oriented mindset required for venture capitalists to create long‑term value for founders.

I think that people, some venture, some people perceive venture capital as like an elite establishment of, you know, there's a weird, like, there's a weird aura around it, right? Let me tell you, founding a venture fund is, I think, equivalent to founding a startup. It is difficult.
It
goes through tough times. You're not being paid that much. But there's asymmetric return, just like with a startup, like if you do it well. But my job is championing human endeavor. That is my— the startup is my customer. I have to figure out how to earn future value off of that, right? Because I'm definitely not getting paid today on it.