While media have focused on rollercoaster stock prices, venture capital firms have also been up for radical operational change under the covid-19 lockdowns. According to Johnnie Barnett of The New Amsterdam Group, speaking with PostTrade 360° Amsterdam, this could bring a number of advantages.
[This is an update, now with the video, of the original news post from the conference day, 28 October.]
How do you replace personal meetings in a business that is all about … personal meetings? At the start of this year’s covid-19 crisis, both deal flows and asset values looked gloomy for the venture capital sector. But not only have both of these come back strongly. The industry is also finding new ways of working, which could improve it notably in the long run.
Venture capital managers are known for gruesome traveling schedules, but this year’s growth of videoconferencing has meant increased – not decreased – efficiency for many in the industry. Johnnie Barnett mentions that placements have even been made without any physical meetings at all.
“When there is a relation established between a GP and an LP [a fund’s general and limited partners] it’s even easier to operate it in a virtual environment.”
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