Peter Parker, Managing Partner at BioInnovation Capital, discusses how specialization evolved in the venture capital industry over his 30-plus year career.
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“So back in the late eighties, there were very few specialized firms at all. None that I knew of that would call themselves, for instance, life sciences firms.”
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More from Peter Parker
PredictionHeld up
No New Major Pharma Companies Will Be Built From Biotech VC
“There are very few, there won't be any new major pharmaceutical companies created out of biotech VC money anymore. Really all about creating companies that can exit to these people.”
Peter ParkerJun 11, 2018▶ 22:4620VC: Why Process is Everything In Good Venture Firms, Why GPs Should Have More Empathy For LPs and Lessons from 32 Years In VC, Chairing Over 25 Boards with Peter Parker, Managing Partner @ Bioinnovation Capital
PredictionNot checkable as stated
BioInnovation Capital Targets Gains on Two-Thirds of Portfolio Companies
“I'd like to see a portfolio with two thirds of my companies being gains for us. And so not relying on the 50 to one winner to Drive the whole portfolio. I think that's just too hard to do.”
Peter ParkerJun 11, 2018▶ 27:2320VC: Why Process is Everything In Good Venture Firms, Why GPs Should Have More Empathy For LPs and Lessons from 32 Years In VC, Chairing Over 25 Boards with Peter Parker, Managing Partner @ Bioinnovation Capital
Disclosure
BioInnovation Capital Requires Unanimous Partner Consensus to Invest
“We passed on deals where one partner had just serious reservations and four would have voted for it. And that was true at Ampersand. It's true at Bioinnovation Capital as well.”
Peter ParkerJun 11, 2018▶ 10:1320VC: Why Process is Everything In Good Venture Firms, Why GPs Should Have More Empathy For LPs and Lessons from 32 Years In VC, Chairing Over 25 Boards with Peter Parker, Managing Partner @ Bioinnovation Capital
Opinion
VCs Are Middlemen and the Cult of Personality Is Unwarranted
“My view of the world is we're middlemen. It's their capital, and we're finding great places to put it. That sounds pretty pedestrian. I really don't like the cult of Personality that sometimes accrues to very, very big names in the venture business. I'm not su…”
Peter ParkerJun 11, 2018▶ 11:3320VC: Why Process is Everything In Good Venture Firms, Why GPs Should Have More Empathy For LPs and Lessons from 32 Years In VC, Chairing Over 25 Boards with Peter Parker, Managing Partner @ Bioinnovation Capital
Insight
If You Cannot Pitch in Four Slides, You Haven't Mastered Your Story
“If you can't tell the story in four slides, you know, you just haven't really got your pitch down well”
Peter ParkerJun 11, 2018▶ 14:3620VC: Why Process is Everything In Good Venture Firms, Why GPs Should Have More Empathy For LPs and Lessons from 32 Years In VC, Chairing Over 25 Boards with Peter Parker, Managing Partner @ Bioinnovation Capital
AssertionNot checkable as stated
BioInnovation Capital Converts 100% of LPs Who Visit Their Lab Space
“When we can get an LP there, meaning this may say the second meeting is at our shop, I think we've gotten a hundred percent of those people to invest in the funds.”
Peter ParkerJun 11, 2018▶ 16:3020VC: Why Process is Everything In Good Venture Firms, Why GPs Should Have More Empathy For LPs and Lessons from 32 Years In VC, Chairing Over 25 Boards with Peter Parker, Managing Partner @ Bioinnovation Capital
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