Anti-Portfolio

A fund’s record of the companies it passed on and later wished it had backed. Anti-Resume describes it as the impersonal counterpart to the personal record of what you did not do: a portfolio of passes teaches more than a portfolio of wins because the passes are where the reasoning was wrong.

Two saved tweets are filed under it. One asks whether any VC funds do a post-mortem on deals they passed on but should not have. The other, from Hunter Walk, argues that “your thesis is your portfolio page, everything else is just hopes and dreams”, the point being that what a fund actually backed is its real Investment Thesis.

Where this appears

• Do Any VCs (funds) Do… (tweet)
• For VCs, Your Thesis is… (tweet)
• Anti-Resume