Let's look at the facts:

They have close to 100 companies in their portfolio, a ratio of 25 companies per partner. There is no way they have adequate time to spend with the vast majority of these companies.

They have well over a $100 million fund and are likely to raise another soon. There will be massive signaling effects for any entrepreneur who raises money from them. This is compounded by the sheer number of companies in their portfolio, which don't allow the firm to add much or any value to their portfolio companies.

Finally, and most importantly, they position and market themselves as an option-based investor to LPs (I used to work at one of their former LPs and saw their PPM).

This is not meant as a personal attack on FRC (again I am only stating facts, not my personal opinion) . Given the number of portfolio companies, their fund size, and approach to investing, FRC is the poster child for option-based investing.

Mark is right that these types of firms have suffered some amount of reputation fall out. I've heard this from a number of sources over the past couple of months.

Let's look at the facts:

They have close to 100 companies in their portfolio, a ratio of 25 companies per partner. There is no way they have adequate time to spend with the vast majority of these companies.

They have well over a $100 million fund and are likely to raise another soon. There will be massive signaling effects for any entrepreneur who raises money from them. This is compounded by the sheer number of companies in their portfolio, which don't allow the firm to add much or any value to their portfolio companies.

Finally, and most importantly, they position and market themselves as an option-based investor to LPs (I used to work at one of their former LPs and saw their PPM).

This is not meant as a personal attack on FRC (again I am only stating facts, not my personal opinion) . Given the number of portfolio companies, their fund size, and approach to investing, FRC is the poster child for option-based investing.

Mark is right that these types of firms have suffered some amount of reputation fall out. I've heard this from a number of sources over the past couple of months.

there are plenty of people who still think twitter is silly

there are plenty of people who still think twitter is silly

Obviously George had a hard time seeing past Odeo. It is interesting that as a firm CRV has done several deals recently where they were backing entrepreneurs that haven't gotten amazing outcomes for them but who they trust will in the future (David Cancel, Evan Schumacher). They obviously just couldn't get there with Evan for whatever reason, but thankfully someone was there to see it with fresh eyes.

Obviously George had a hard time seeing past Odeo. It is interesting that as a firm CRV has done several deals recently where they were backing entrepreneurs that haven't gotten amazing outcomes for them but who they trust will in the future (David Cancel, Evan Schumacher). They obviously just couldn't get there with Evan for whatever reason, but thankfully someone was there to see it with fresh eyes.