Precursor Ventures discusses whether venture capital funds should adopt a dedicated "CEO model" — a role within multi-partner funds responsible for people management and administrative/operational tasks. The speaker argues that someone needs to own unglamorous but essential functions such as performance management, tax and audit coordination, quarter close, and producing the LP letter.
And if it's a multi partner partnership, not everybody in the partnership has to be interested in people management. And I think that's why a lot of venture funds have gone to this, like, CEO model where there is somebody who's kind of responsible for running the place, who says, I will take on the responsibility of people management, performance management, coordinating all of the, like, unsexy stuff like tax and audit and closing out the quarter and getting the LP letter out. These are all things you have to do and somebody has to own them.
